The number of worldwide correspondent banking relationships continues to decline, according to new figures released today by the Basel, Switzerland-based Financial Stability Board.

The Basel, Switzerland-based Financial Stability Board today updated its list of global systemically important banks subject to supplemental loss absorbency requirements.

Noting that economic indicators are exceptionally positive, the Treasury’s Office of Financial Research flagged market risk, credit risk and cybersecurity as high or moderate concerns in its annual financial stability report today.

The Federal Reserve is watching growth in the leveraged loan sector with an eye to its systemic implications, Federal Reserve Vice Chairman for Supervision Randal Quarles told the Senate Banking Committee today.

As the Federal Reserve works on finalizing its “stress capital buffer” proposal and makes continued refinements to the overall stress testing and capital planning regime, Vice Chairman for Supervision Randal Quarles today outlined several areas where the Fed governors are working to refine the process -- many of which align with recommendations made by ABA.

In a letter to Treasury Secretary Steven Mnuchin yesterday, ABA and 52 state bankers associations called for a quantitative impact study to assess the full effects of the Financial Accounting Standards Board’s Current Expected Credit Loss standard on bank capital.

The FDIC is pivoting to focus on innovation and simplicity in supervision, FDIC Chairman Jelena McWilliams told attendees at ABA’s Annual Convention in New York today.

A task force of the Basel, Switzerland-based Financial Stability Board has issued a status update on its efforts to develop voluntary financial disclosures related to climate change, which could affect banks both as preparers and as users of public disclosures.

The Federal Reserve will move to implement the provisions of S. 2155 -- the new regulatory reform law -- as quickly as possible, Federal Reserve Chairman Jerome Powell said in testimony before the Senate Banking Committee today.