SIFIs

Establishing a set of standards of practice for chief risk officers and others would help benchmark the quality control for managing risk in the financial services industry.

While surprised and alarmed by Donald Trump's decision to add the reinstatement of the 1930s-era banking law to the GOP platform, Republican lawmakers at the convention in Cleveland maintained that Trump is a better choice for the economy and the financial system. Here's why.

Paul Manafort, the campaign manager for the presumptive Republican presidential nominee, said Monday during a press briefing that reinstating the law, which separated commercial and investment banking, was one of the few changes Trump is proposing in the GOP platform.

The financial reform alternative proposed by Rep. Jeb Hensarling would allow bankers to be bankers rather than be so focused on regulatory compliance.

The selection of Indiana Gov. Mike Pence as Donald Trump's running mate could clarify the presumptive Republican nominee's banking policy views, adding a policymaker to the ticket who has been outspoken about the Dodd-Frank Act, "too big to fail" and the CFPB.

The debate over Rep. Jeb Hensarling's bill to overhaul the Dodd-Frank Act is increasingly focusing on widely different philosophies about capital regulation.

As policymakers try to calibrate the appropriate level of regulatory oversight still six years after Dodd-Frank, financial institutions large and small must stay engaged in key policy debates.

The leading Democrat on the Senate Banking Committee said Tuesday he was "optimistic" about lawmakers' making changes to improve the Dodd-Frank Act next year, while lauding JPMorgan Chase's decision to raise its minimum wage from $10.15 an hour to $12.

WASHINGTON — The House approved a spending bill Thursday that would change the structure of the Consumer Financial Protection Bureau and take away the Financial Stability Oversight Council's power to designate nonbanks as systemically important.

Federal Reserve Board Gov. Daniel Tarullo acknowledged that capital requirements for smaller banks are too complicated, suggesting they could be retooled to be like earlier Basel Committee standards.

U.S banks have come a long way from the early days of the stress tests, when it was unclear if any would pass. The majority of banks easily cleared the 5% minimum level for capital under the severely adverse scenario as well as the vaguer qualitative test the Federal Reserve Board imposes, suggesting institutions have finally gotten a handle on the process. Still, it's useful to see which banks improved from last year, as well as the few which fell toward the back of the back.

The vast majority of big banks seem to be getting a handle on the costly, labor-intensive and time-consuming stress-testing process. But for a pair of large banking companies, Santander Holdings USA and Deutsche Bank Trust Corp., the stress tests have so far proven to be an unconquerable challenge.

The Financial Stability Oversight Council announced Wednesday it was rescinding the systemic designation of GE Capital, the first time the interagency body has de-designated a firm.

The legislation to reform the Dodd-Frank Act promotes the idea that the best defense against another crisis is simpler, higher capital requirements, not prescriptive regulations.

The U.K.'s surprise vote last week to leave the European Union has upped the ante for the banks taking part in the Federal Reserve Board's second round of stress tests on Wednesday.

After the United Kingdom's surprising vote to exit the European Union, the financial markets are in turmoil and U.S. banks are left trying to assess their risks.

WASHINGTON — Sen. Elizabeth Warren, D-Mass., slammed a House GOP bill to reform financial regulation on Thursday, arguing it is being misrepresented by its author, Financial Services Committee Chairman Jeb Hensarling.

Federal Reserve Board Chair Janet Yellen signaled Wednesday that the central bank could support a House Republican effort to reduce banks' regulatory burden in return for institutions holding higher capital, but said such a deal should only be open to small banks.

The Federal Reserve Board's top two leaders on Wednesday defended the authority for resolving large company failures against criticism that the policy is a continuation of "too big to fail."

Federal regulators will take decisive action if the biggest banks fail to improve their living wills by October, Federal Reserve Board Chair Janet Yellen pledged to lawmakers on Tuesday.