The FDIC proposed changes to its guidelines for real estate lending policies in order to align standards with the community bank leverage ratio, which does not require electing institutions to calculate tier 2 capital or total capital.
The Bank for International Settlements released a working paper to discuss the range of central bank digital currencies, including addressing their architectures, how they could complement existing payment options and what they imply for the financial system and central banks in the future.
As the federal banking agencies undertake a mandated review of the “qualified residential mortgage” definition and related provisions of the credit risk retention rule, the American Bankers Association and several other financial and housing groups yesterday emphasized their strong support for the “continued alignment of the QRM and [Qualified Mortgage] frameworks,” in light of the CFPB’s recently finalized QM rule, noting that not doing so would unnecessarily restrict credit, particularly to low- to moderate income borrowers.
Sen. Brian Schatz (D- Hawaii) and Rep. Sean Casten (D-Ill.) introduced legislation today that would direct the Federal Reserve to subject large banks to stress tests to measure their resilience to climate-related financial risks. Schatz previously introduced the bill in the last Congress.
Members of the Federal Reserve’s Community Depository Institutions Advisory Council—which includes several American Bankers Association member bank CEOs—raised concerns about the growing number of nonbank competitors seeking to offer banking products and services while circumventing the traditional regulatory structure, according to minutes released on Friday by the Fed.
The Alternative Reference Rates Committee—of which the American Bankers Association is a member—today released a new guide to published Secured Overnight Finance Rate averages.
In a meeting with members of ABA’s executive committee today, Deputy Treasury Secretary Wally Adeyemo said that he is in the process of conducting a full review of the nation’s economic and financial sanctions programs, and “noted the important role financial institutions play in implementing these policies,” according to a readout of the meeting.
The main cause of stress for consumers is money and finances, according to 47% of respondents in the second annual “Money Mindset” survey by Huntington Bank, beating out the 40% who cited the ongoing pandemic as their main stressor.
The American Bankers Association joined other members of the Military Family Financial Readiness Coalition in offering recommendations to the Biden-Harris administration to improve the financial readiness of military families.
The Alternative Reference Rates Committee today issued recommendations for intercompany loans based on the Secured Overnight Financing Rate, the ARRC’s preferred replacement for the London Interbank Offered Rate.