FRB

The banking oversight committees of both chambers of Congress held hearings to investigate and review the cause of the collapse and failure of four regional banks over the past two months, as well as the actions taken by regulators leading up to the collapses and in the aftermath. Both Democrats and Republicans had critical remarks for regulators, though with wildly different expectations. Read on for more details. Read on »

The Federal Reserve Board issued its Economic Well-Being of U.S. Households in 2022 report which examines the financial lives of U.S. adults and their families. Read on for more details. Read on »

President Joe Biden announced his nominees to the Federal Reserve Board of Governors, including one promotion to vice chair, a renomination, and the filling of a vacancy left by former Fed Gov. Lael Brainard who now serves as director of the National Economic Council. Read on for more details. Read on »

The California Department of Financial Protection and Innovation released its findings following an investigation into the collapse of Silicon Valley Bank. The regulator’s findings echo the finding previously published by the Federal Reserve, stating regulators did not act early or forcefully enough to prevent the collapse. Read on for more details. Read on »

The Federal Reserve released its latest financial stability report, which warned that banks’ concerns about slower economic growth could lead to decreases in lending, accelerating the current economic slowdown. It also highlighted areas of heightened risk within financial markets that may face increased scrutiny from bank examiners. Read on for more details. Read on »

Jason Keller, associate director of U.S. Advisory Services with Wolters Kluwer Compliance Solutions and former community and economic senior advisor at the Federal Reserve Bank of Chicago, spoke with Dodd Frank Update about the upcoming Community Reinvestment Act modernization rules and what lenders can do to get ready for any changes. Read on for more details. Read on »

In a speech at the Georgetown University McDonough School of Business Psaros Center for Financial Markets and Policy, Federal Reserve Governor Michelle Bowman discussed the topic of a U.S.-produced central bank digital currency (CBDC). Though she acknowledged some benefits to a U.S. CBDC, Bowman expressed skepticism towards the concept. Read on for more details. Read on »

The International Monetary Fund (IMF) is calling for regulators around the world to impose greater regulations on non-bank financial institutions to protect global financial systems and economic stability. According to IMF data, non-bank financial institutions account for approximately half of the assets of the entire global financial system. Read on for more details. Read on »

The Federal Housing Finance Agency will host the Appraisal Subcommittee (ASC) for its next public hearing in coordination with ASC member agencies. Read on for more details. Read on »

The Federal Financial Institutions Examination Council named Acting Comptroller of the Currency Michael Hsu as its chair. Read on for more details. Read on »