The comment deadline was officially set for the SEC's proposed (i) amendments to current requirements on clearing agencies' risk-based margin systems and (ii) new rule on the content of clearing agencies' recovery and wind-down plans. The July 17, 2023 comment deadline was published in the Federal Register.
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Former executives from Silicon Valley Bank and Signature Bank testified before the Senate Banking Committee on their management of events leading up to the banks' closings.
GAO Financial Markets and Community Investment Director Michael E. Clements testified on the findings from a GAO report on the regulatory and supervisory shortcomings related to the SVB and Signature Bank failures.
Senators Jon Tester (D-MT) and Elizabeth Warren (D-MA) ramped up pressure on top bank executives at recently failed banks.
The Congressional Research Service compared the existing Federal Reserve Bank discount window with the new FRB's Bank Term Funding Program being used in response to the failures of Silicon Valley Bank and Signature Bank.