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.
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.
Dianne Dobbeck, head of the Federal Reserve Bank of New York's supervision group, said the banking system is sound, but potentially destabilizing risks must be monitored and addressed.
Federal Reserve Gov. Michelle Bowman said regulations on banks have spurred the growth of unsupervised non-bank financial institutions like fintechs and private equity firms.
Federal Reserve Gov. Lisa Cook said recent events show that existing regulation and supervision tools are already well suited for safeguarding banks from the risks of digital assets.
Federal Reserve Chair Jerome Powell said that interest rates could climb less quickly as early as December, but warned that cutting rates "is not something we want to do soon."
In a letter to Treasury Secretary Janet Yellen, Sen. Sherrod Brown, D-Ohio, said regulators should have supervisory authority over crypto activity.
John Williams, the president of the Federal Reserve Bank of New York, praised the Fed's new guidelines for granting fintechs and other nonbanks access to the payment system. He also echoed calls for new rules to govern stablecoins and cryptocurrencies.
As the central bank considers publishing a list of account holders and applicants, parties on both sides of the industry would like it to go even further.
Citi was the only bank cited in the agencies' biennial review of living wills for the eight largest U.S. banks.
Lawmakers on both sides of the crypto debate see a call to action in the demise of the world's second largest crypto exchange. But a consensus path forward has yet to emerge.
Securities and Exchange Commission Chair Gary Gensler and Treasury Under Secretary for Domestic Finance Nellie Liang see urgency in shoring up liquidity in government debt markets during times of stress.
The Consumer Financial Protection Bureau is challenging a recent appeals court decision that its funding through the Federal Reserve Board violates the separation of powers doctrine. That ruling "threatens to inflict immense legal and practical harms" on financial regulation, the CFPB says.
The agency released two reports Tuesday outlining shortcomings of the background check industry and pledged to root out false information and faulty practices in the space.
Questions about whether reserve banks are federal agencies and what role the Board of Governors plays in master account decisions should be answered in court, a federal judge ruled.
The Federal Reserve notched two badly needed wins last week, as inflation showed signs of easing and the financial system withstood the collapse of one of the world's biggest crypto firms. Here's what that means for the central bank moving forward.
Choices of which homes are used for comparisons play a major role in disparate home valuations for Black and white homeowners, according to studies recently released by the National Community Reinvestment Coalition and academic researchers.
While banks appear to be well capitalized, the Fed outlined several areas of potential weakness in its biannual supervision and regulation report.
Bank loans to private equity, mortgage companies as well as other lightly regulated — and increasingly volatile — industries have soared in recent years. The central bank says it needs to know how leveraged those borrowers are and how much risk they pose to the banking system.
The Federal Reserve's semiannual financial stability report said the threat of continued high prices and the Fed's response to them are top threats for banks and other market participants.