Treasury Secretary Steven Mnuchin said the Financial Stability Oversight Council will propose SIFI criteria before executing changes, and provided comments about the Volcker Rule, Orderly Liquidation Authority and housing finance.
The industry derides the proprietary trading ban as costly, and the Trump administration has heard those concerns. Yet regulators must choose between subtle though expedient pin-prick changes versus a more drastic overhaul.
A bipartisan Senate alliance working on a bank regulatory relief bill appeared even stronger Tuesday as it worked to minimize changes in the interest of moving the legislative package to the Senate floor.
Federal Deposit Insurance Corp. Chairman Martin Gruenberg raised concerns about provisions that would significantly increase the systemic risk threshold for large banks, as well as one that would change the calculation for the supplementary leverage ratio.
During his time as Fed governor, chair-designate Jerome Powell has outlined his views on a host of bank regulatory matters, including the need for regulatory relief, the push for housing finance reform, blockchain and much more.