Update 209 — FSOC’s De-Designation Decision: AIG De-Listing Leaves Only One Nonbank SIFI The Update takes its own “tax holiday” to look at last Friday’s Financial Stability Oversight Counsel under-the-radar vote to de-designate AIG as a Systemically Important Financial Institution (SIFI) and the rationales provided by seven of the ten FSOC members. The council’s 68-page …
Update 197 — HFSC’s Bipartisan Work: Summer Surprises that Threaten DFA? Before the quiet of recess settled into the Beltway, earlier this summer, the House Financial Services Committee’s GOP leadership opened up the first round of financial legislative debate with Jeb Hensarling’s Financial CHOICE Act. The CHOICE Act proposed large scale deconstruction of the policy …
Update 189/GOP Appropriators’ Gambit DFA Death by a Thousand Policy Riders Just before adjourning for the July 4 recess, the House Appropriations Subcommittee on Financial Services and General Government approved the FY 2018 financial services appropriation bill. The bill would reduce some agency budgets from last year, but keeps SEC at roughly the same level, a pleasant …
Update 188 — Banks Pass Stress Tests; Will the Tests Themselves Be Tested? Last Thursday, the Federal Reserve released its qualitative analysis upon reviewing the Comprehensive Capital Analysis and Review (CCAR) stress test results from the week be fore. The analysis is the basis for the Fed’s verdict regarding the capital status of the nation’s 34 banks with …
Update 187: SBC Trilogy on DFA’s Future Three Hearings, Two Views of Reform The three Senate Banking hearings this past month on the relationship between Dodd-Frank (DFA) financial regulation and economic growth offered glimpses into quiet negotiations occurring among Committee members, staff, regulators, industry, and academia. Today, we look at the position-taking and the opening negotiations …
Update 183: Treas. Report Score: Mnuchin 1, Bannon 0 Systemic Risk Report Due in October The administration’s first Treasury Report on financial regulatory policy was released last night and contained a few surprises. Instead of advocating a Bannonidtic dismantlement of the Dodd-Frank Act (DFA), it left many of the most important and controversial systemic risk components in …
Treas. Report Score: Mnuchin 1, Bannon 0 (Jun. 13) Read More »
Update 182: House Passes CHOICE Act; Ball is in Senate Banking’s Court Now A couple of hours ago, the U.S. House adopted HR 10, Financial CHOICE Act of 2017, by a vote of 233-186 — without a single Democrat — in the opening bid on the most sweeping financial (de)regulatory bill in the 115th Congress. No one expects a bill …
Update 181: House OLA Repeal Vote; Hensarling’s Bid to Reform Dodd-Frank Tomorrow, House Financial Service Chair Jeb Hensarling will get his vote on HR 10 — the Financial CHOICE Act of 2017, a measure to undo much of Dodd-Frank, with little support beyond fellow House Republicans. After heated debate within the party, the GOP last week …
Update 178: This Week in Senate Banking Mnuchin Rule & DFA Regs Debated The ongoing if not metastasizing Russian cluster continues to draw the oxygen out of Washington, leaving little room for the forgotten economy. But despite mounting signs the Trump economic policy agenda may be legislatively stillborn, especially on the big-ticket economic items, there …
This Week in Senate Banking Mnuchin Rule & DFA Regs Debated (May 20) Read More »
Update 177 — Hensarling’ CHOICE: A Reckless Response Though many of us are distracted by the Comey cluster, we also know there’s likely to be a vote in the House this month that would repeal and replace almost all of the the systemic risk provisions of Dodd-Frank. Last week, the House Financial Services Committee spent three …
Hensarling's CHOICE: A Reckless Response (May 9) Read More »
