Browsing: Financial stability

Commercial Lending

In a lengthy farewell speech today as his tenure on the Federal Reserve Board of Governors comes to a close, former Vice Chairman for Supervision Randal Quarles outlined several “further refinements to the bank supervisor and regulatory framework” that still need to be made in the near term, including further calibration of leverage capital standards.

Compliance and Risk

While the Federal Reserve is not planning to join onto forthcoming OCC guidance for large firms on managing climate risk, Fed Chairman Jerome Powell signaled that he would be open to coordinating the other banking agencies to ensure a consistent regulatory framework around climate risk, and that the Fed could also move to issue its own guidance in the future.

Economy

Federal Reserve Chairman Jerome Powell told members of the Senate Banking Committee today that “the banking system is strong,” and that while “there are some issues to address in the capital markets, I wouldn’t say they rise to the level of grave systemic importance.” He did flag cyber risk as a key threat to financial stability.

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