Testifying before the House Financial Services Committee this morning, Federal Reserve Vice Chairman for Supervision Randal Quarles outlined several ways in which the Fed has already or is in the process of tailoring the post-crisis regulatory framework to promote efficiency, transparency and simplicity.
The Federal Reserve and FDIC today determined that the nation’s eight largest banks did not have “deficiencies” in their July 2017 resolution plans, which detail how they would be resolved in the event of failure.
The goals of the Basel III Net Stable Funding Ratio, a long-term liquidity measurement, have already been met by the U.S. financial system, and the federal banking agencies would see no benefit by finalizing the NSFR rule, ABA President and CEO Rob Nichols wrote in a letter today to Federal Reserve Vice Chairman for Supervision Randal Quarles.
Fifty-one state bankers associations today wrote to members of the Senate Banking Committee encouraging lawmakers to continue pursuing the goal of bipartisan regulatory reform.
As part of its ongoing response to President Trump’s executive order outlining core principles for financial regulation, the Treasury Department issued an extensive report today outlining recommended regulatory changes to maintain the vibrancy of U.S. capital markets.
The House today passed H.R. 1624, a bipartisan, ABA-backed bill that would expand banks’ ability to count municipal securities as high-quality liquid assets under the Liquidity Coverage Ratio.
ABA staff recently met with officials at the Treasury Department, which is in the process of issuing recommendations related to capital markets regulatory reform in response to President Trump’s executive order on core principles for financial regulation.
Thanks to hard lessons from Hurricane Katrina, banks today are more resilient than ever.
Speaking to the annual monetary policy conference in Jackson Hole, Wyo., today, Federal Reserve Chairman Janet Yellen offered a broad defense of the post-financial crisis regulatory framework but embraced “appropriate adjustments” as the economy and global landscape evolve.