As the Financial Stability Oversight Council meets today to discuss, among other topics, the Financial Accounting Standards Board’s Current Expected Credit Loss model for loan loss accounting, 28 Republican House members urged a delay in CECL’s implementation date and a comprehensive study of its effects on the banking industry and access to credit.
Browsing: Financial stability
The Financial Stability Oversight Council meets today in open and executive sessions. Among other things, the preliminary agenda for the executive session includes the current expected credit loss accounting model.
The Alternative Reference Rates Committee today issued consultations on draft fallback language for bilateral business loans and securitizations that reference the U.S. dollar London Interbank Offer Rate.
In a live interview on Bloomberg today, ABA President and CEO Rob Nichols outlined three key policy priorities that ABA is looking to in 2019.
Commenting on the current state of large bank resolution planning at an industry event today, FDIC Chairman Jelena McWilliams today said that the FDIC is considering several policy changes to “strengthen and streamline” the large bank resolution planning process.
The nation’s largest banks are strongly capitalized and are holding more liquid assets than they were in the leadup to the financial crisis, the Federal Reserve noted today in its inaugural report on financial stability.
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.