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.
Elizabeth McCaul, the first American to serve on the European Central Bank's supervisory board, talks crypto controls, systemic risk and the need for regulators on both sides of the Atlantic to do a better job of harnessing data.
The central bank's governing body said a limited disclosure would satisfy its obligations under administrative law. The Kansas City Fed, meanwhile, would be subject to full discovery.
The high-profile members of the Senate Banking Committee have joined forces on legislation that would subject the Federal Reserve's 12 regional banks to the Freedom of Information Act and other disclosure mandates.
Sen. Pat Toomey, who is retiring from his post as the top Republican on the Senate Banking Committee, attached a provision to the bill that would force the Fed to disclose account holders and applicants.
The acting comptroller of the currency said new CECL standards will help banks weather current economic uncertainty. He also touted the benefits of diversity in risk management.
In speeches last week, Federal Reserve Vice Chair for Supervision Michael Barr and Fed Gov. Michelle Bowman both discussed the need to address nonbank risk to financial stability.
The Federal Reserve terminated a 2016 agreement with the Industrial Bank of Korea and its New York branch for processing more than $1 billion in sanction-violating transactions.
The Federal Reserve Board of Governors said it only needs to disclose records about its decision making process, but Custodia says the central bank is playing by its own rules.
The Federal Reserve Board of Governors voted 6-1 to seek public comment on a new regulatory framework for climate-related financial risks. The requirements would add to existing risk management standards.
Federal Reserve Vice Chair for Supervision Michael Barr said his "holistic" review of capital standards is still underway, but noted the benefits of stronger requirements in a speech Thursday.