The Inter-Agency Working Group for Treasury Market Surveillance reported progress on efforts to ensure that the Treasury market "remains the deepest and most liquid market in the world and a central component of the financial system."
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Treasury Assistant Secretary Graham Steele elaborated on lessons learned and regulatory principles that were "reinforced" following the recent bank failures.
Treasury Secretary Janet Yellen described U.S. banking regulators' response to recent bank failures and highlighted Treasury's regulatory approach to risks posed by nonbank financial institutions.
The U.S. Treasury Department issued its first set of recommendations pursuant to President Trump's Executive Order establishing core principles for improving the financial system.
The Office of the Comptroller of the Currency ("OCC") reminded banks that, along with the Board of Governors of the Federal Reserve System and the FDIC, it is requesting comment on a proposed rule that would (i) implement a net stable funding ratio ("NSFR") requirement for large and internationally active banking organizations and (ii) amend certain definitions in the liquidity coverage ratio rule that also are applicable to the NSFR.