Bessent: stablecoins will help ensure dollar dominance
Treasury Secretary Scott Bessent said Tuesday that dollar-pegged stablecoins could help expand market demand for U.S. government debt, lowering the pressure on long-dated bond yields.
Regulation and compliance
Fed’s ‘tailoring’ initiative may be easier said than done
There is broad agreement that asset size alone is not the best way to measure a bank's systemic footprint. But getting equally broad consensus on another, better approach could be difficult.
How bank compliance leaders are engaging with regulators
Risk and compliance executives shared how they're responding to rapid changes in bank regulation at American Banker's Most Powerful Women in Banking Conference.
EU officials propose guardrails for insurance SRT boom
Insurers' unfunded significant risk transfers should meet a set of extra solvency criteria to ensure stability if policymakers back the most lenient bank-capital treatment.
Bowman: Global regulators should match Fed’s ‘modernization’
The Federal Reserve's vice chair for supervision criticized global standard setters for 'unquestioningly' adopting policy changes in response to research she says is faulty.
Fed’s Bowman unveils major overhaul of its bank supervision
The Federal Reserve is restructuring bank supervision into five regions, following state lines, and putting one regional leader in charge. It's also planning to revise regulatory thresholds so that banks will need to be bigger before tougher standards kick in.
Fed’s Cook downplays systemic risks posed by private credit
Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
Fed finalizes stress test reforms, takes comment on scenarios
The Federal Reserve voted 6-1 to finalize its proposed stress test reforms, including seeking input on stress test scenarios and models annually and averaging results over two years.
Barr: ‘now is the time’ to prepare for AI-driven job losses
Federal Reserve Gov. Michael Barr said artificial intelligence has not yet had a material impact on the labor market, but governments and businesses should be prepared nonetheless.
Fed’s Jefferson: discount window reforms help Treasury market
The Federal Reserve's vice chair outlined the ongoing modernization efforts for the central bank's lending facility of last resort, including coordination with the Federal Home Loan Banks.
Fed’s Bowman previews new twists in stress test reforms
Federal Reserve Vice Chair for Supervision Michelle Bowman Friday highlighted a pair of new provisions to the final stress test framework that arose from public commentary submitted to the agency last year.
Lawsuit accuses Bowman, Fed of ‘rigging’ comment process
Consumer advocacy group Better Markets filed a lawsuit in federal district court Thursday claiming the Federal Reserve's top regulator coached bankers on how to comment on proposed capital rules in "secret meetings."
FDIC won’t have to return $1.71 billion to SVB creditors
A federal judge found SVB Financial's management negligently prioritized yield over safety, allowing the Federal Deposit Insurance Corp. to retain the deposits after the bank's 2023 collapse.
Pulte, FHFA fraud crackdown heightens counterparty vetting risks
The Federal Housing Finance Agency has barred 51 people from working with Fannie Mae and Freddie Mac this year, the most suspensions in any calendar year.
Federal agencies reverse Biden-era credit guidance
Seven federal agencies rescinded a 2022 guidance that encouraged creditors to offer special purpose credit programs to underserved communities.
SEC sues three ex-Tricolor executives over bond fraud
The agency says the subprime auto lender pledged the same car loans to several lenders and bond deals at once, leaving investors owed about $945 million.
UWM, Rocket drive early VantageScore 4.0 adoption, others lag
On Aug. 14, over 30% of the loans sent to Fannie Mae and Freddie Mac from each company were scored using VantageScore 4.0.
Banks fear SEC rule may limit access to capital markets
The American Bankers Association, Bank Policy Institute and Securities Industry and Financial Markets Association submitted comment letters to the Securities and Exchange Commission arguing that a proposed change to Form S-3 eligibility would make it more difficult for some banks to access the capital markets.
Disclosures show CFPB pick’s ties to several regulated firms
President Trump's nominee to lead the Consumer Financial Protection Bureau disclosed that he's been paid by numerous financial firms regulated by the agency he is expected to lead.
SEC reporting overhaul draws mixed reviews
A Securities and Exchange Commission proposal to change reporting requirements for public companies has drawn mixed reactions, with some groups warning that reduced transparency could harm markets.
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