The Basel Committee has updated its workplan for evaluating reforms made in the aftermath of the 2008 financial crisis.
Browsing: Financial stability
While not going so far as to designate the GSEs as systemically important financial institutions, the Financial Stability Oversight Council today unanimously endorsed the Federal Housing Finance Agency’s plan to rebuild Fannie Mae’s and Freddie Mac’s capital levels.
While the U.S. economy is showing positive signs that a recovery is underway, Federal Reserve Vice Chairman for Supervision Randal Quarles today cautioned that “risks remain weighted to the downside.”
The Financial Stability Board will undertake a holistic review of the market volatility that followed the initial outbreak of COVID-19 earlier this year, according to a report released today.
Regulatory reforms adopted by the world’s largest banks have bolstered the financial system’s ability to absorb the sudden economic shocks of the coronavirus pandemic, Federal Reserve Vice Chairman for Supervision Randal Quarles, who also chairs the Financial Stability Board, said in a speech today.
Testifying before the House Financial Services Committee today, Federal Reserve Chairman Jerome Powell again emphasized the strong position of the financial sector going into the COVID-19 pandemic and noted that banks have performed well in their response to the crisis.
Financial sector vulnerabilities are “likely to be significant in the near term,” as the coronavirus pandemic continues to take a severe toll on economic activity in the U.S., the Federal Reserve said in its latest financial stability report released today.
As banks continue to address the immediate challenges of the COVID-19 pandemic, the Federal Reserve and the FDIC today announced that they would extend two upcoming deadlines for certain banks required to file resolution plans for orderly resolution in the event of material financial distress or failure.
The Basel, Switzerland-based Financial Stability Board today sought public feedback on a set of 46 cyber incident response and recovery practices for financial institutions.
The Federal Reserve Board today issued an interim final rule amending the treatment of the total loss absorbing capacity, or TLAC, that the eight U.S. global systemically important banks and designated foreign banks with U.S. operations are required to hold.