DOCSLIB.ORG

Washington Perspectives Mike Stevens

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Washington Perspectives Mike Stevens Washington Perspectives Mike Stevens Senior Executive Vice President Conference of State Bank Supervisors Washington Perspectives Michael L Stevens Senior Executive Vice President Conference of State Bank Supervisors [email protected] 202-728-5701 @CSBSNews About CSBS • Washington representative of state regulators in DC – Capitol Hill – Federal regulators – Where Interagency work occurs • FFIEC • FBIIC • FSOC • Professional Development • Examiner Certification • Department Accreditation 3 Industry Heatmap: Nation Total banks: 5,415 State chartered: 79% Banks less than 1B: 4,632 Community banks: 92% 4 Industry Heatmap: Iowa Total banks: 288 State chartered: 94% Banks less than 1B: 272 Community banks: 99% 5 THE PRESIDENT ESTABLISHES DIRECTION 6 Executive Order: Core Principles for Regulating U.S. Financial System 1. Empower the public to make independent financial decisions and informed choices in the marketplace 2. Prevent taxpayer-funded bailouts 3. Foster economic growth 4. Enable U.S. companies to be competitive within domestic & foreign markets 5. Advance American interests in international financial regulatory negotiations 6. Make regulation efficient, effective, and appropriately tailored 7. Restore public accountability within federal financial regulatory agencies and rationalize federal financial regulatory framework 7 Executive Order Leads to Treasury Reports • Depository (June 2017) • Capital markets (October 2017) • Asset management and insurance (October 2017) • Non-banks and financial innovation (July 2018) 8 AGENCY LEADERSHIP MATTERS 9 People Are Policy Federal Deposit Insurance Corporation Chairman Jelena McWilliams 6/5/2023 Term as Chair 6/5/2024 Term as Director Vice Chairman Vacant Director Martin Gruenberg Expired term OCC Joseph Otting 11/27/2022 CFPB Kathy Kraninger 12/10/2023 Federal Reserve Board Chair Jerome Powell (Term as Chair ends 2/5/2022) (1/31/2028) Richard Clarida (1/31/22) Randal Quarles (1/31/32) Vice Chairman (9/17/22) Vice Chairman for Supervision (10/13/2021) Michelle Bowman (1/31/2020) Lael Brainard (1/31/2026) Vacant Vacant Term expiring 1/31/2024 Term expiring 1/31/2030 10 The Regulatory Agenda S. 2155 Issues Principal Issues 1. Community Bank Leverage 1. Transparency Ratio 2. Exam modernization 2. Brokered Deposits 3. Community Reinvestment Act 3. Short form call report Reform 4. Portfolio QM 4. BSA/AML Reform 5. Appraisal relief (rural areas) 5. Appraisal thresholds / requirements 6. De novo banks 7. Compliance Exams 11 Current PCA Framework vs. CBLR PCA Framework Risk-Based Capital Ratios Leverage Ratio PCA Threshold Common Equity CBLR Total Capital Tier 1 Capital Tier 1 Capital Tier 1 Capital Well-Capitalized ≥ 10% ≥ 8% ≥ 6.5% ≥ 5% ≥ 9% Adequately ≥ 8% ≥ 6% ≥ 4.5% ≥ 4% Capitalized ≥ 7.5% Undercapitalized < 8% < 6% < 4.5% < 4% < 7.5% Significantly < 6% < 4% < 3% < 3% Undercapitalized < 6% Critically Tangible equity (defined as Tier 1 capital plus non-Tier 1 perpetual preferred stock) to total Undercapitalized assets ≤ 2% 12 13 Driving a Better Policy Outcome • 66 Research Papers • 5 National Surveys • 158 Banker Outreach Sessions • 4 Case Study Competition Winners • 17 Videos Highlighting a Community Bank • 13 Emerging Scholars Scholarships communitybanking.org 14 2019 Community Bank Case Study Competition Public Policy Focus: Impact on a bank’s ability to serve its community from S.2155 25 States 51 Schools 70 Teams Previous Winners 2015: University of Utah 2016: Southeastern Louisiana University 2017: University of Akron 2018: Eastern Kentucky University 15 Community Bank Sentiment Index – Development Plan “Attitudinal” questions to the national survey: How do you expect business conditions in your market to change over the next 12 months? How do you expect your bank’s capital expenditures on facilities or operations to change over the next 12 months? How do you expect the franchise value of your bank to change over the next 12 months? Goal: Quarterly indicator of how key drivers of local economies are feeling about the future. 16 .
Load more

Recommended publications
  • Nominations of Joseph Otting and Randal Quarles Hearing Committee on Banking, Housing, and Urban Affairs United States Senate
    S. HRG. 115–133 NOMINATIONS OF JOSEPH OTTING AND RANDAL QUARLES HEARING BEFORE THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS UNITED STATES SENATE ONE HUNDRED FIFTEENTH CONGRESS FIRST SESSION ON THE NOMINATIONS OF: JOSEPH OTTING, OF NEVADA, TO BE COMPTROLLER OF THE CURRENCY, OFFICE OF THE COMPTROLLER OF THE CURRENCY RANDAL QUARLES, OF COLORADO, TO BE A MEMBER OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, AND VICE CHAIRMAN FOR SUPERVISION, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM JULY 27, 2017 Printed for the use of the Committee on Banking, Housing, and Urban Affairs ( Available at: http://www.govinfo.gov/ U.S. GOVERNMENT PUBLISHING OFFICE 28–282 PDF WASHINGTON : 2018 For sale by the Superintendent of Documents, U.S. Government Publishing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate Nov 24 2008 13:17 Mar 27, 2018 Jkt 046629 PO 00000 Frm 00001 Fmt 5011 Sfmt 5011 S:\DOCS\28282.TXT SHERYL COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS MIKE CRAPO, Idaho, Chairman RICHARD C. SHELBY, Alabama SHERROD BROWN, Ohio BOB CORKER, Tennessee JACK REED, Rhode Island PATRICK J. TOOMEY, Pennsylvania ROBERT MENENDEZ, New Jersey DEAN HELLER, Nevada JON TESTER, Montana TIM SCOTT, South Carolina MARK R. WARNER, Virginia BEN SASSE, Nebraska ELIZABETH WARREN, Massachusetts TOM COTTON, Arkansas HEIDI HEITKAMP, North Dakota MIKE ROUNDS, South Dakota JOE DONNELLY, Indiana DAVID PERDUE, Georgia BRIAN SCHATZ, Hawaii THOM
    [Show full text]
  • IFFCBANO Symposium: Keeping Trade Moving
    IFFCBANO Symposium: Keeping Trade Moving Adrienne C. Slack Regional Executive Federal Reserve Bank of Atlanta - New Orleans Branch The views expressed here are my own, and not necessarily those of the Atlanta Fed or the Federal Reserve System. The Fed’s Dual Mandate • The Fed is pursuing two objectives as given to us by Congress— maximum employment and price stability. • The maximum level of employment is largely determined by nonmonetary factors that affect the structure and dynamics of the job market, although a stronger economy does help with job creation. • The Federal Open Market Committee (FOMC) has chosen an inflation target of two percent per year over the medium term as measured by the annual change in the price index for personal consumption expenditures. 2 Board of Governors of the Federal Reserve System Randal Quarles Jerome H. Powell Richard H. Clarida Lael Brainard Vice Chair for Chair Vice Chair Supervision Vacant Michelle W. Bowman Vacant 3 The Federal Reserve Bank Presidents Loretta Mester Charles Evans Neel Kashkari Patrick Harker Eric Rosengren Cleveland Chicago Minneapolis Philadelphia Boston 4th District 7th District 9th District 3rd District 1st District John Williams New York 2nd District Tom Barkin Richmond 5th District Mary Daly San Francisco Esther George Raphael Bostic Robert Kaplan James Bullard 12th District Kansas City Atlanta 10th District Dallas St. Louis 6th District 11th District 8th District 4 The Sixth District Information Flow Public Sixth Policy District Business Sixth FOMC District Research Sixth Atlanta District Board of President Directors 6 Summary of the Economic Environment: The May 2019 FOMC Policy Statement • Information received since the Federal Open Market Committee met in March indicates that the labor market remains strong and that economic activity rose at a solid rate.
    [Show full text]
  • Inflation Targeting
    A SYMPOSIUM OF VIEWS Inflation Targeting Should the Federal Reserve in its conduct of monetary policy follow ome argue that while Fed Chairman Alan Greenspan, in office since 1987, has been an extraordinarily sub- Stle and skillful manager, his successor may not en- the European Central joy these unique skills. Thus, the system needs eventually to agree on a series of guiding benchmarks if not a target for use Bank and adopt some in the conduct of monetary policy. Globally, such an addi- tional tool might help in the convergence process and po- form of inflation target tentially create more stability for exchange rates. Others counter that it is not wise to lock the system range? TIE asked thirteen into a simplistic rule, or set of rules, particularly at a time of continued geopolitical uncertainty. Still others distinguished experts. counter that the European Central Bank established provisions that have successfully anticipated such ex- ternal shocks to the system. Is the time approaching for the U.S. central bank to adopt an inflation target or inflation target range? Or does the U.S. monetary system require a more prag- THE MAGAZINE OF INTERNATIONAL ECONOMIC POLICY matic and intuitive approach? To what extent should an 2099 Pennsylvania Avenue, N.W., Suite 950 Washington, D.C. 20006 inflation target be discretionary? Phone: 202-861-0791, Fax: 202-861-0790 www.international-economy.com 24 THE INTERNATIONAL ECONOMY WINTER 2004 I will therefore simply sketch out what has worked well for us at the ECB. We announced our monetary poli- Inflation targets are cy strategy in October 1998.
    [Show full text]
  • January 2021 Fri, Jan 1
    January 2021 Fri, Jan 1 All Day Bank Holiday 1 January 2021 Mon, Jan 4 All Day 2021 AEA/ASSA Annual Meeting Virtual Event 8:30 AM – 8:55 AM Morning Checkpoint Call John to dial in 8:55 AM – 9:00 AM Blocked 9:00 AM – 9:30 AM Markets Group 9:05/9:20 Conference Call John to dial in 9:30 AM – 2:00 PM Blocked 2:00 PM ‐2:30 PM Meeting with Daleep Singh Skype 2:30 PM – 6:00 PM Blocked Tue, Jan 5 All Day 2021 AEA/ASSA Annual Meeting Virtual Event 9:00 AM – 9:30 AM Markets Group 9:05/9:20 Conference Call John to dial in 9:30 AM – 12:00 PM Blocked 12:00 PM – 12:30 PM Meeting with the Board John to dial in 12:30 PM – 1:00 PM Blocked 1:00 PM – 1:45 PM Weekly Email Discussion Skype 1:45 PM – 2:00 PM Blocked 2:00 PM – 2:30 PM Weekly Meeting with Chair Jay Powell Skype 2:30 PM – 3:30 PM Blocked 3:30 PM – 3:45 PM Tech Set‐Up for ASSA Panel: The Monetary‐Fiscal Nexus with Ultra Low Interest Rates Zoom 3:45 PM – 5:45 PM John to chair ASSA Panel: The Monetary‐Fiscal Nexus with Ultra Low Interest Rates Zoom 5:45 PM – 6:00 PM Blocked 1 January 2021 Wed, Jan 6 8:30 AM – 8:55 AM Morning Checkpoint Call John to dial in 8:55 AM – 9:00 AM Blocked 9:00 AM – 9:30 AM Markets Group 9:05/9:20 Conference Call John to dial in 9:30 AM – 10:00 AM Phone Call with Barbara Van Allen, ECNY John to initiate the call 10:00 AM – 10:15 AM Phone Call with Luiz Pereira da Silva, BIS Deputy General Manager John to initiate the call 10:15 AM – 10:30 AM Blocked 10:30 AM – 11:30 AM Government Relations Committee Meeting Skype 11:30 AM – 1:00 PM Blocked 1:00 PM – 2:00 PM FVP Interview
    [Show full text]
  • Chairman Jay Clayton, February 1, 2018 to February 28, 2018
    Chairman Jay Clayton Public Calendar February 1, 2018 to February 28, 2018 Thursday, February 1, 2018 9:00 am Meeting with staff 9:30 am Meeting with staff 10:00 am Meeting with staff 10:30 am Meeting with staff 12:00 pm Meeting with Commissioner 1:00 pm Meeting with Silicon Valley Bank, including: Greg Becker, CEO, and Michael Zuckert, General Counsel; and Kara Calvert, Partner, Franklin Square Group 2:00 pm Closed Commission Meeting 2:30 pm Meeting with staff 3:00 pm Meeting with staff 3:30 pm Meeting with staff Friday, February 2, 2018 8:30 am Phone call with Senator Sherrod Brown 9:00 am Meeting with the Capital Market Authority (CMA) of Saudi Arabia, including: Ms. Mona Al-Nemer, Manager, Investment Products Development Department; and Ms. Hanan Al-Shehri, Officer, Investment Products Development Department 11:30 am Speaking engagement at the Mid-Atlantic Security Traders Association’s 2018 Winter Conference Monday, February 5, 2018 11:00 am Meeting with Commissioner 12:00 pm Meeting with staff 2:00 pm Meeting with Greg Gilman, President, National Treasury Employees Union Chapter 293 4:00 pm Meeting with Senator Heidi Heitkamp 6:30 pm Meeting with Tom Ayres, Department of the Air Force General Counsel Nominee Tuesday, February 6, 2018 8:30 am Phone call with Jerome Powell, Governor, Federal Reserve Board 10:00 am Hearing before the Senate Committee on Banking, Housing, and Urban Affairs 2:00 pm Meeting with staff 2:30 pm Meeting with staff 3:00 pm Meeting with staff 4:00 pm Meeting with Commissioner 4:45 pm Meeting with Commissioner
    [Show full text]
  • Annual Report 2014–15 © 2015 National Council of Applied Economic Research
    National Council of Applied Economic Research Annual Report Annual Report 2014–15 2014–15 National Council of Applied Economic Research Annual Report 2014–15 © 2015 National Council of Applied Economic Research August 2015 Published by Dr Anil K. Sharma Secretary & Head Operations and Senior Fellow National Council of Applied Economic Research Parisila Bhawan, 11 Indraprastha Estate New Delhi 110 002 Telephone: +91-11-2337-9861 to 3 Fax: +91-11-2337-0164 Email: [email protected] www.ncaer.org Compiled by Jagbir Singh Punia Coordinator, Publications Unit ii | NCAER Annual Report 2014-15 NCAER | Quality . Relevance . Impact The National Council of Applied Economic Research, or NCAER as it is more commonly known, is India’s oldest and largest independent, non-profit, economic policy research institute. It is also one of a handful of think tanks globally that combine rigorous analysis and policy outreach with deep data collection capabilities, especially for household surveys. NCAER’s work falls into four thematic NCAER’s roots lie in Prime Minister areas: Nehru’s early vision of a newly- independent India needing independent • Growth, macroeconomics, trade, institutions as sounding boards for international finance, and economic the government and the private sector. policy; Remarkably for its time, NCAER was • The investment climate, industry, started in 1956 as a public-private domestic finance, infrastructure, labour, partnership, both catering to and funded and urban; by government and industry. NCAER’s • Agriculture, natural resource first Governing Body included the entire management, and the environment; and Cabinet of economics ministers and • Poverty, human development, equity, the leading lights of the private sector, gender, and consumer behaviour.
    [Show full text]
  • Senate Banking Committee Hearing: Federal Reserve Nominees 5.15.2018
    Senate Banking Committee Hearing: Federal Reserve Nominees 5.15.2018 On May 15th, the Senate Banking Committee held a hearing to consider the following nominations: The Honorable Richard Clarida, of Connecticut, to be a Member and Vice Chairman of the Board of Governors of the Federal Reserve System Ms. Michelle Bowman, of Kansas, to be a Member of the Board of Governors of the Federal Reserve System Key Takeaways Both nominees expressed support for the tailoring of financial regulation to the size and complexity of the institution, but highlighted the need to continue to ensure safety and soundness in the financial system. Both nominees expressed support for the continued normalization of the Fed’s balance sheet. Democratic Members asked nominees about recent Federal Reserve proposals that would adjust capital standards. The following themes consistently emerged throughout the hearing: Tailoring of regulations o Chairman Crapo (R-ID) asked the nominees their thoughts on tailoring regulations to the size and complexity of individual institutions. Clarida said that tailoring and efficiency of regulations are important goals while at the same time continuing to ensure the safety and soundness of the financial system. Bowman highlighted the need to apply the appropriate amount of regulation depending on size and complexity of the institution. o Senator Tillis (R-NC) asked witnesses about whether S.2155 was an appropriate way to tailor regulations. Bowman discussed the importance of tailoring regulations but did not specifically discuss 2155. Fed balance sheet / Quantitative Easing o Chairman Crapo (R-ID) asked the nominees about normalization of the Fed balance sheet. Clarida said that Fed Chairman Powell’s recent proposal seems to make sense, but he has not studied the numbers in detail yet.
    [Show full text]
  • Chairman Jay Clayton, October 1, 2020 to October 31, 2020
    Chairman Jay Clayton Public Calendar October 1, 2020 to October 31, 2020 Thursday, October 1, 2020 9:00 am Phone call with Robert Ophele, Chairman, French Financial Markets Authority 10:15 am Speaking engagement, Rosenblatt Securities Global Exchange Leader Conference 11:30 am Speaking engagement, Webinar “Two Sides of the American Coin” with Acting Comptroller of the Currency Brian Brooks 1:00 pm Meeting with staff 2:30 pm Meeting with staff 3:00 pm Meeting with staff 3:30 pm Meeting with staff 4:00 pm Meeting with staff Monday, October 5, 2020 7:00 am Financial Stability Board (FSB) Meeting 10:00 am Meeting with staff 10:30 am Meeting with staff 11:30 am Fixed Income Market Structure Advisory Committee (FIMSAC) Meeting 1:00 am Town Hall meeting with SEC employees 2:30 pm FIMSAC Meeting 4:15 pm Phone call with Publish What You Pay, including: Kathleen Brophy, Director; Zorka Milin, Senior Legal Advisor, Global Witness; Joseph Kraus, Transparency & Accountability Policy Director; Isabel Munilla, Extractive Industries Transparency Policy Lead, Oxfam America; and Michelle Harrison, Staff Attorney, Earthrights International 4:30 pm Phone call with Securities Industry and Financial Markets Association (SIFMA), including: Ken Bentsen, Chief Executive Officer; Joe Seidel, Chief Operating Officer; Ira Hammerman, General Counsel; Tom Price, Managing Director, Operations Technology; Aseel Rabie, Associate General Counsel; and Melissa MacGregor, Associate General Counsel 5:00 pm Phone call with Heath Tarbert, Chairman, Commodity Futures Trading
    [Show full text]
  • Investment Insights
    CHIEF INVESTMENT OFFICE Investment Insights AUGUST 2017 Matthew Diczok A Focus on the Fed Head of Fixed Income Strategy An Overview of the Federal Reserve System and a Look at Potential Personnel Changes SUMMARY After years of accommodative policy, the Federal Reserve (Fed) is on its path to policy normalization. The Fed forecasts another rate hike in late 2017, and three hikes in each of the next two years. The Fed also plans to taper reinvestments of Treasurys and mortgage-backed securities, gradually reducing its balance sheet. The market thinks differently. Emboldened by inflation persistently below target, it expects the Fed to move significantly more slowly, with only one to three rate hikes between now and early 2019. One way or another, this discrepancy will be reconciled, with important implications for asset prices and yields. Against this backdrop, changes in personnel at the Fed are very important, and have been underappreciated by markets. The Fed has three open board seats, and the Chair and Vice Chair are both up for reappointment in 2018. If the administration appoints a Fed Chair and Vice Chair who are not currently governors, then there will be five new, permanent voting members who determine rate moves—almost half of the 12-member committee. This would be unprecedented in the modern era. Similar to its potential influence on the Supreme Court, this administration has the ability to set the tone of monetary policy for many years into the future. Most rumored candidates share philosophical leanings at odds with the current board; they are generally hawkish relative to current policy, favor rules-based decision-making over discretionary, and are unconvinced that successive rounds of quantitative easing were beneficial.
    [Show full text]
  • Strategies Monetary Policy
    STRATEGIES for MONETARY POLICY EDITED BY JOHN H. COCHRANE JOHN B. TAYLOR CHAPTER ONE Models, Markets, and Monetary Policy Richard H. Clarida The topic of this volume and the Monetary Policy Conference it originates from, Strategies for Monetary Policy, is especially timely. The Federal Reserve System is conducting a review of the strategy, tools, and communication practices we deploy to pursue our dual- mandate goals of maximum employment and price stability. In this review, we expect to benefit from the insights and perspectives that are presented here, as well as those offered at other conferences devoted to this topic, as we assess possible practical ways in which we might refine our existing monetary policy framework to better achieve our dual-mandate goals on a sustained basis. This essay is not, however, devoted to a broad review of the Fed’s monetary policy framework—that process is ongoing, and I would not want to prejudge the outcome—but it will instead focus on some of the important ways in which economic models and financial market signals help me think about conducting monetary policy in practice after a career of thinking about it in theory. THE ROLE OF MONETARY POLICY Let me set the scene with a very brief—and certainly selective— review of the evolution over the past several decades of professional The views expressed are my own and not necessarily those of other Federal Reserve Board members or Federal Open Market Committee participants. I would like to thank Ed Nelson and Bob Tetlow for their assistance in preparing this speech.
    [Show full text]
  • NY Fed President ❖ Lael Brainard – Governor ❖ Randall Quarles – Vice Chair for Supervision ❖ Michelle Bowman-Governor
    1 2 Interest Rates – from 3000 BC Source: Business Insider 3 Yield Curve 101 ❖ Fed Funds – 2.40% (2.25%-2.50%) ❖ +75 bps ❖ =3.15% 2-year note yield (2.52%) ❖ +100 bps ❖ =4.15% 10-year note yield (2.66%) ❖ +50 bps ❖ =4.40% 30-year bond yield (3.00%) ❖ Yield Curve is Flat 4 Treasury Yield Curve-2018-2019 Source: Bloomberg 5 Treasury Yield Curve 2018-2019 Source: Bloomberg 6 U.S. vs. German Yield Curves Source: Bloomberg 7 Source: Walt Handelsman - Newsday 8 Economic Growth – 2004-2018 Source: BEA & Bloomberg 9 Economic Growth – 1947-2018 Source: BEA & Bloomberg 10 11 Key to Economy – Innovative New Jobs 12 Beneficiaries of Economic Innovation 13 Measures of Unemployment Source: Bureau of Labor Statistics •U-3: Total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate). •U-6: Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers. 14 U.S. Unemployment Rate U-3 Source: BLS and Bloomberg 15 U.S. Unemployment Rate U-6 Source: BLS and Bloomberg 16 U.S. Non-farm Payrolls (2009-Present) Source: BLS and Bloomberg 17 U.S. Non-farm Payrolls (1939-Present) Source: BLS and Bloomberg 18 Weekly Initial Jobless Claims(2009-Present) Source: DOL and Bloomberg 19 Weekly Initial Jobless Claims(1967-Present) Source: DOL and Bloomberg 20 21 German Inflation – 1918-1923 Source: BEA & Bloomberg 22 Wages vs Inflation (PCE Core YoY) – 2007-2019 Source: BEA, BLS & Bloomberg
    [Show full text]
  • Regpulse Newsletter October 30 – November 13, 2020
    Financial Services RegPulse Newsletter October 30 – November 13, 2020 Recent developments › FRB publishes its Financial Stability Report, highlighting climate risks for the first time › The Financial Stability Board releases its 2020 GSIB list › OCC and FRB release their semiannual supervisory and regulatory reports › FRB, OCC, and FDIC release a white paper outlining sound principles for operational resiliency › The Financial Stability Board releases white paper on managing third-party data risks › The Congressional Oversight Commission releases its sixth report on the FRB’s emergency leading facilities Regulatory Roundup | Deloitte Center for Regulatory Strategy, Americas 1 Introduction The Deloitte Center for Regulatory Strategy (DCRS) is a source of critical insight and advice, designed to help clients anticipate change and respond with confidence to the strategic and aggregate impact of national and international regulatory policy. The RegPulse Newsletter is a bi-weekly distribution that features the latest regulatory news and issues that are impacting the financial services and fintech industries. For a deeper analysis and discussion of regulatory developments, make sure to check out our RegPulse blog series, which are a collection of blogs that are contributed by our powerful team of former regulators, industry specialists, and trusted business advisors. US regulatory developments Congress Derivatives Banking & Capital Markets Investment Management Consumer Protection Insurance BSA/AML Fintech EMEA regulatory developments Featured DCRS content Key: Cross-sector The development covers multiple financial services sub-sectors or other industries. FBO The development pertains to or affects foreign banking organizations (FBOs). Blog/POV The development has been covered or is currently being analyzed by our team to be produced into either a RegPulse blog or broader point of view (POV).
    [Show full text]