Ebrima Santos Sanneh

FDIC Chairman Martin Gruenberg announced that regulators will soon issue a proposed rule to finalize U.S. implementation of the most recent revisions to the Basel III capital framework. Among the expected updates are changes to capital requirements for banks with assets of more than $100 billion, three of which failed this spring.

FDIC directed three companies Thursday to stop making false and misleading statements about FDIC deposit insurance, its most recent effort to clamp down on misleading representations.

Acting Comptroller of the Currency Michael Hsu said the banking industry has been largely insulated from crypto winter, but added that bank interest in servicing the crypto industry has waned over the same period. 

Lawmakers questioned Treasury Secretary Janet Yellen on concerns including bank consolidation, the systemic risk exception and the need for regulation of cryptocurrency during Tuesday's House Financial Services Committee hearing. During the hearing lawmakers highlighted gaps they see in post 2008 financial regulations at a time when they say big banks wield growing influence on the system.

Federal Deposit Insurance Corp. Vice Chair Travis Hill said Silicon Valley Bank's failure raises concerns over the resolution process, and said regulators should work harder to find a buyer for distressed banks in the future. 

Acting Comptroller of the Currency Michael Hsu said customers' trust in banking relationships is critical to the financial system as the agency seeks comment on what a survey of trust and banking should look like.

The Securities and Exchange Commission sued the two largest cryptocurrency exchanges this week over allegations of operating as unregistered securities exchanges, rattling the industry but potentially lighting the way to more regulatory certainty.

The Federal Deposit Insurance Corp. said in its quarterly banking profile that the banking industry remains resilient despite a challenging economic backdrop, but exposure to commercial real estate losses and interest rate risks could make continued stability difficult.

The Federal Deposit Insurance Corp.'s guarantee to consumers remains strong despite this spring's bank failures, the agency's chairman, Martin J. Gruenberg, said Tuesday. Gruenberg also noted that the FDIC's research shows persistent disparities in access to banks by class and race, and defended the agency's crackdown on nonbanks that fraudulently claim to be protected by deposit insurance.

Banking regulators and executives from the three regional banks that failed this spring testified in a marathon of hearings this week. These are the four threads to emerge from those hearings that banks need to watch.

During a Senate Banking hearing with regulators, Sens. Jon Tester, D-Mont., and Mark Warner, D-Va., raised concerns about sweeping policy changes, while bipartisan consensus emerged around curbing executive compensation.

Michael Barr, the Federal Reserve's vice chair for supervision, fought back against criticisms by Republicans on the House Financial Services Committee that toughening capital requirements would be an overreaction to the recent banking crisis.

Treasury Secretary Janet Yellen defended the administration's systemic risk exception and said regulators will backstop small banks that pose contagion risk.

End-to-end automation remains a long-term goal as banks and insurers focus on point solutions, at least for now.

The Federal Deposit Insurance Corp. board voted 3-2 to propose a special assessment of 0.125% on banks with uninsured deposits over $5 billion.

The California Department of Financial Protection and Innovation says in a new report that it failed to keep pace with Silicon Valley Bank's rapid growth. But it placed blame on the Federal Reserve, too.

The New York attorney general's office released draft legislative language to regulate cryptocurrencies, addressing various concerns about the industry but potentially conflicting with the state's existing crypto licensing regime.

The FDIC's recent proposal to provide business accounts targeted deposit insurance coverage up to ten times the current rate is gaining traction among industry experts. But a great deal rests on the details, and any reform will probably have to wait until after 2024.

U.S. Treasury Secretary Janet Yellen sent a letter to Congressional leadership on Monday calling for them to raise the debt limit before June 1, the earliest date the U.S. could begin defaulting on its debt obligations.

The resolutions of Silicon Valley Bank, Signature Bank and now First Republic are likely to drain $35 billion from the Deposit Insurance Fund. Odds are increasing that banks — even small ones — will pay higher premiums and perhaps a special assessment to replenish the fund.