
Comparative stress testing in the U.S. and Switzerland
In the U.S., stress tests could benefit from a different starting point besides increases in the unemployment rate, while the Swiss system demonstrates the value of greater transparency.
In the U.S., stress tests could benefit from a different starting point besides increases in the unemployment rate, while the Swiss system demonstrates the value of greater transparency.
Federal Reserve Governor Michelle Bowman once again called for a “targeted” regulatory response to the recent bank failures, pushing back against broader reforms that “appear to advocate a shift away from tailoring and risk-based supervision.”
The Financial Crimes Enforcement Network and the Commerce Department’s Bureau of Industry and Security issued a supplemental joint alert urging continued vigilance on the part of U.S. financial institutions for potential attempts by Russia to evade export controls.
In a joint letter, ABA, the U.S. Chamber of Commerce and three other banking and credit union trade associations criticized the Consumer Financial Protection Bureau’s proposed study of disclosures as circumventing Paperwork Reduction Act requirements intended to ensure agency research maximizes the utility of information collected.
Sens. Thom Tillis (R-N.C.) and Jon Tester (D-Mont.) urged President Biden to appoint an independent investigator to further probe the recent bank failures.
ABA President and CEO Rob Nichols announced today that ABA has joined a lawsuit filed by the Texas Bankers Association and McAllen, Texas-based Rio Bank challenging the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act.
While inflation has come down substantially since last summer, it is still too high, and by some measures progress has been slowing, Federal Reserve Governor Philip Jefferson said today during an insurance conference in Washington, D.C.
Stablecoin issuance is a monetary exercise comparable to what regulated banks do and should be supervised accordingly to ensure financial stability and consumer protection, ABA said in a statement to the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion.
ABA filed comments in response to the Federal Housing Finance Agency’s recent request for input on a single-family social bond policy for Fannie Mae and Freddie Mac, with the association offering considerations should the agency further pursue the policy.
The leaders of the House and Senate small business committees asked the Small Business Administration to “pause” changes to its lending programs until a permanent associate administrator is confirmed to oversee the programs