The Treasury Department issued a request for information on steps it could take to improve post-trade data transparency in the Treasury securities market.
The FDIC today said that the banking environment improved in 2021 as the economy recovered from a period of economic hardship the year prior.
Testifying before the Senate Banking Committee, Michael Barr—President Biden’s nominee to serve as Federal Reserve vice chairman for supervision—said that the “Fed’s authorities are quite limited [and] narrow” with regard to accelerating the transition to a lower carbon economy.
The FDIC this week released three new frequently asked questions on its brokered deposits rule, which took effect in April 2021.
The financial condition of the banking system remained strong and improved during the first half of 2021, despite some lingering concerns, the Federal Reserve found in its latest supervision and regulation report released today.
The Federal Reserve today asked for comments on proposed changes to its payments system risk policy that would expand access to collateralized intraday credit from the Federal Reserve Banks.
Bank of America Chairman and CEO Brian Moynihan told lawmakers today that “it’s important to look at [the Supplemental Leverage Ratio] again and make sure it’s calibrated correctly,” in light of lessons learned from the COVID-19 pandemic.
The FDIC today said that the banking industry remained resilient entering 2021, despite the extraordinary challenges of the pandemic. In its annual risk review publication, the agency said that the banking sector in 2020 was helped by strong capital and liquidity levels and “was a source of stability to the economy.”
Throughout the COVID-19 crisis, “the benefits of a resilient banking system have been evident” as banks’ “strong capital and liquidity positions” have enabled the pandemic recovery, the Federal Reserve said today in its supervision and regulation report.
In a comment letter today, ABA told the Securities and Exchange Commission that any reform of money market funds should not focus on regulated banks, which have been a source of strength during the pandemic.