Topic: Federal Reserve Board

What will Biden’s presidency mean for banking regulation?

Joe Biden has defeated Donald Trump to become the United States’ next president – triggering an overhaul of the federal government and its regulatory agencies. What can banking regulation practitioners around the world expect from the new administration?

19 November 2020

Sullivan & Cromwell and Wachtell Lipton advise as PNC buys BBVA USA

Pittsburgh-based PNC has agreed the purchase of Spanish bank BBVA’s US subsidiary – setting off a regulatory approvals process that will extend into the Biden administration.

18 November 2020

Biden taps Gensler to lead financial regulation transition team

US president-elect Joe Biden has named former CFTC chair Gary Gensler to head up a task force charged with organising the handover of power at the United States’ financial regulatory agencies – with figures specialising in fintech and corporate governance among the new team members.

11 November 2020

US regulators approve new-look liquidity rule despite opposition

US financial regulators have approved measures requiring major banks to prove their funding can endure one year of stress, amid objections from minority members of the Federal Reserve and FDIC boards that the revamped rule “defeats the purpose” of the original proposal.

22 October 2020

Fed admits stress-testing error

Goldman Sachs and Morgan Stanley’s capital requirements have been revised after the Federal Reserve admitted errors in its most recent stress tests.

08 September 2020

US regulators pave way for higher capital distributions despite dissent

US banking regulators have finalised a measure allowing banks to make higher capital distributions under stressed financial conditions, over the objections of the minority members of the Federal Reserve and FDIC boards.

28 August 2020

US and Brazil unveil instant payment systems

The US Federal Reserve has announced details of its interbank payment service FedNow despite scepticism over potential competition with the private sector, as the Brazilian central bank reveals a launch date for its own new payments system network, Pix.

14 August 2020

Fed caps dividends after 2020 stress tests

The Federal Reserve has announced caps on dividends and a ban on share repurchases after conducting its annual stress tests, along with a newly-introduced sensitivity analysis to consider a range of coronavirus-related recession scenarios.

03 July 2020

Federal Reserve adds coronavirus scenarios to stress tests

The US Federal Reserve will include a coronavirus-specific sensitivity analysis in its annual stress test, in what will determine whether banks can sanction shareholder pay-outs and share buybacks.

22 June 2020

Asset class consistency key in pre-cessation trigger, ISDA finds

Market participants have told the International Swaps and Derivatives Association (ISDA) to add a pre-cessation trigger to inter-bank offered rate fallback documentation, highlighting consistency across asset classes and within derivative markets as a prerequisite.

18 May 2020

Get unlimited access to all Global Banking Regulation Review content