FSB Seeks Input on ‘Too Big To Fail’ Reforms
The Basel, Switzerland-based Financial Stability Board is seeking feedback from industry stakeholders on the post-crisis regulatory reforms for “too big to fail” banks.
Browsing: Too big to fail
House Passes Financial Choice Act
The House today passed the Financial Choice Act by a mostly party line vote of 233 to 186 (one Republican, Rep. Walter Jones of North Carolina, voted against).
Mnuchin: Administration Seeking Growth through Tax Reform, Reg Relief
Testifying before the Senate Banking Committee today, Treasury Secretary Steven Mnuchin said he is hoping to collaborate with senators on financial regulatory relief and housing finance reform.
Hensarling Unveils Proposal for Dodd-Frank Overhaul
House Financial Services Committee Chairman Jeb Hensarling (R-Texas) today announced plans for new legislation that he called a “market-based, equity financed Dodd-Frank off-ramp.”
Banker Op-Ed: Candidates Should Work for Bipartisan Reg Relief
In an op-ed in the Orlando Sentinel this weekend, Florida Bankers Association president and CEO Alex Sanchez called on political candidates to work for bipartisan regulatory relief that would build up regional and small banks, rather than focusing on the destruction of large institutions they consider “too big to fail.”
ABA, Groups: TLAC Proposal Would Be Too Costly
The federal banking agencies’ proposal for the eight U.S. global systemically important banks to increase their total loss absorbing capacity, or TLAC, would create a $363 billion shortfall in eligible TLAC and long-term debt — plus $622 trillion in unrelated liabilities — by Jan. 1, 2019, a massive gap that would “be very expensive and perhaps impossible to cure…promptly,” according to ABA and several other trade groups in a comment letter Friday.
Yellen Highlights Progress Made in Financial Stability
In her testimony before the House Financial Services Committee today, Federal Reserve Chairman Janet Yellen pointed to evidence that the U.S. financial system has “strengthened considerably.”
Basel Updates List of Global SIFIs
The Basel, Switzerland-based Financial Stability Board today updated its list of global systemically important banks subject to supplemental loss absorbency requirements.
Fed Proposes Loss-Absorbency Standard
The Federal Reserve on Friday proposed a new set of requirements for the eight U.S. global systemically important banks to increase their total loss absorbing capacity, or TLAC, by at least 60 percent.
Fed’s Fischer Defends Post-Crisis Regulations
Warning against “the mistake of believing that we have put an end to financial crises” at the International Monetary Conference in Toronto today, Federal Reserve Vice Chairman Stanley Fischer defended the international post-financial crisis regulatory regime as necessary to prevent similar crises in the future.