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Federal Reserve

Feedback on Foreign Banks’ July 2018 Resolution Plan Submissions – Key Takeaways

The Federal Reserve and FDIC (the Agencies) provided feedback on the U.S. resolution plans filed in July 2018 by four Foreign Banking Organizations – finding shortcomings in each, but acknowledging the need for more coordination among U.S. and home country regulators.

Visual Memorandum: A New Cut – Federal Reserve and U.S. Banking Agencies Propose Tailored Regulatory Framework

The move away from a one-size-fits-all regulatory framework based on asset size continues.

On October 31, the Federal Reserve proposed a rule to implement Section 401 of the Economic Growth, Regulatory Relief and Consumer Protection Act, tailoring enhanced prudential standards for firms with $100 billion or more in total consolidated assets, and the three U.S. banking agencies proposed corresponding tailoring of their Basel III capital and liquidity rules.

Overall, the proposals would:

Resolution 2.0 – The Future of U.S. Resolution Planning for U.S. G-SIBs Starts to Come into Focus

The future of resolution planning for U.S. global systemically important banking organizations (G-SIBs) has started to come into focus.  The FDIC and the Federal Reserve have recently laid out an ambitious agenda designed to put in place Resolution Planning 2.0.  This slide sets forth our collection of the publicly known elements of that agenda, as drawn from speeches, testimony and the cadence of agency review of resolution plans.

Status of Financial Regulatory Leadership Changes

As we emerge from the midterm election season, we have updated our brief deck summarizing the leadership and staffing changes among federal financial regulators, including announced nominations, confirmations, resignations and expiring terms.  The first slide summarizes the state of play for the agencies’ principals; the later slides provide a deeper look on an agency-by-agency basis, including select senior staff.  We intend to continue to update this res

Davis Polk Financial Services Regulatory Reform Tool—Post Midterm Election Edition

Financial services regulatory reform will continue to evolve in 2018 and 2019.  As we observe the changing legislative landscape, here is the Post Midterm Election Edition of our reference tool, which provides context and summarizes current developments across a range of key regulatory areas, agencies and actors.  We will continue to track these issues and will provide our next update early in the new year.

Visual Memorandum: The Federal Reserve’s Large Financial Institution Rating System — Final Rule

The Federal Reserve has finalized a new supervisory ratings system for large financial institutions (LFIs), discussed in our visual memorandum here.  The new LFI rating system, which reflects the three core areas of focus in the Federal Reserve’s current LFI supervisory framework—capital, liquidity and governance and controls—is meant to fully align with the Federal Reserve’s current supervisory programs and

Collins wedge pushes internal credit models towards irrelevance

Senator Susan Collins is a well-known figure in US politics. Attacked from the left for not blocking the Supreme Court nomination of controversial judge Brett Kavanagh and attacked from the right for being a RINO (Republican in name only), Collins is less well-known for her impact on the capital strategies of large US banks.

A Breath of Fresh Air at the FDIC: The “Trust through Transparency” Initiative

FDIC Chairman Jelena McWilliams has announced a “Trust through Transparency” initiative that is remarkable and well worth a read.  In our view, there are three main takeaways.  One is the importance of transparency to public trust in a Democracy, the second is how important it is that the government be accountable to the governed, which in the banking sector translates as consistency in the supervisory environment, and the third is a rethinking of what should be treated as confidential supervisory information.

Status of Financial Regulatory Leadership Changes

As we head into the mid-term election season, we have updated our brief deck summarizing the leadership and staffing changes among federal financial regulators, including announced nominations, confirmations, resignations and expiring terms.  The first slide summarizes the state of play for the agencies’ principals; the later slides provide a deeper look on an agency-by-agency basis, including select senior staff.  We intend to continue to update th

The Departing Remarks of Federal Reserve Governor Daniel K. Tarullo

Posted by Daniel K. Tarullo, formerly U.S. Federal Reserve Board of Governors, on Monday, May 1, 2017
Editor's Note: Daniel K. Tarullo is former Governor of the Federal Reserve System. This post is based on Mr. Tarullo’s recent remarks at the Woodrow Wilson School, available here.

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