Topic: Federal Reserve Board

US & Canada signal end of covid-era capital indulgence

US and Canadian regulators are rolling back pandemic-era capital measures, with a Canadian regulator resuming its Basel III implementation plans and the US Federal Reserve calling time on its go-easy approach to the supplementary leverage ratio.

23 March 2021

US Fed in a bind over “inexcusable” capital requirement relief

The United States’ congressional committees covering financial services have urged the Federal Reserve to defy calls to extend temporary capital requirements relief it extended at the outset of the covid-19 pandemic.

11 March 2021

Sullivan & Cromwell and Simpson Thacher advising on first Biden-era bank merger

New York-based M&T Bank has agreed to acquire People’s United in a US$7.6 billion deal – the first bank merger agreed since the Biden administration took office.

24 February 2021

Cherry-picking, greenwashing, and inconsistency: Fed and IOSCO regulators call for formalised TCFD expectations

US Federal Reserve Board governor Lael Brainard has expressed her support for mandatory climate disclosures by banks to help measure and mitigate climate risk, while IOSCO’s Ashley Alder has called for greater standardisation and “more substantive uptake” of TCFD expectations.

22 February 2021

NY Libor switch plan included in Cuomo budget

New York’s governor has included a plan in the state’s draft budget to prevent widespread disruption as Libor-linked contracts shift to new benchmarks, following lobbying from industry bodies.

21 January 2021

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

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