Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
After years of implementing Dodd-Frank Act measures rules to streamline bank resolutions, regulators relied on their pre-crisis playbook to resolve Silicon Valley and First Republic banks. That choice has led some experts to question the rules' utility.
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.
The central bank's instant payment system could bring enormous benefits to banks and their customers. But it also presents new risks to manage.
Bank groups say the focus on capital rules in Federal Reserve Vice Chair for Supervision Michael Barr's report on Silicon Valley Bank are misguided. Others say he should have named names.
The Federal Deposit Insurance Corp. said in a report released Friday that Signature's rapid, unrestrained growth and inadequate risk management practices outpaced supervisors' ratings and responses, even though the issues were known to the agency.
In a highly anticipated report on the failure of Silicon Valley Bank, Federal Reserve Vice Chair for Supervision Michael Barr says the bank's own mismanagement and an acquiescent supervisory structure created the conditions for the bank to fail.
The Texas Bankers Association, a trade group representing Lone Star State bankers, accused the agency of exceeding its authorities in crafting its rule on collecting data about small business lending activity.
On Friday, Federal Reserve Vice Chair for Supervision Michael Barr will share findings from his review of the supervision of Silicon Valley Bank before its failure last month.
Federal Reserve Vice Chair for Supervision Michael Barr had promised to share findings from his review of the Fed's oversight efforts for the failed bank by May 1.
The central bank believes it needs authorization to issue a digital dollar, but others say the hurdles to implementation are much lower.
Financial institutions and their trade groups fear a loss of funding for loans if customers migrate in large numbers to a central bank digital currency, according to comments to the Federal Reserve about a possible digital dollar. Industry officials are also worried about heightened cybersecurity and money laundering risks.
The Federal Reserve governor addressed misconceptions about the forthcoming instant payment system after delivering remarks on financial innovation.
The former senator said the Federal Reserve's use of a legal provision he authored last year is "plainly at odds" with the statute as written.
The approval follows a deal brokered by the Swiss government last month for UBS to acquire its distressed rival.
Federal Reserve Board Gov. Michelle Bowman said current capital requirements and application processes are driving consolidation and boosting shadow banking.
Federal Reserve Board Gov. Christopher Waller endorsed the idea that more bank runs would have occurred had regulators not intervened.
Consumer Financial Protection Bureau director Rohit Chopra said the systemically important financial institution designation should be considered for platforms such as PayPal, Venmo and Cash App.
In wide-ranging remarks on the recent banking crisis, the head of the Consumer Financial Protection Bureau said other regulators aren't using enough of their powers to supervise banks.
The state's attorney general filed a motion to intervene in the bank's lawsuit over master account access, citing concerns about the effect of the Federal Reserve's decisions on Wyoming's special-purpose depository institution charter.
The agency said it will include home valuation practices in its fair lending review. It's the latest effort by a Washington regulator to root out discriminatory practices in the profession.