Federal Reserve Board Governor Michelle W. Bowman urged banking regulators to prioritize their attention in the new year on (i) fundamental risks such as liquidity and interest rates; (ii) tailoring regulations to the size, complexity and business model of institutions; and (iii) increasing "supervisory transparency."
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Acting Comptroller of the Currency Michael J. Hsu prioritized "restoring public trust in the federal banking system" after the liquidity crisis, consequent market disruptions and bank failures early in the calendar year.
The SEC set an effective date of January 2, 2024 and accompanying compliance dates for new Exchange Act Rule Rule 10c-1. The final rule was published in the Federal Register.
The SEC adopted a new rule under the Securities Exchange Act which imposes reporting requirements on persons who lend "reportable securities."
Federal Reserve Board Governor Michelle W. Bowman advocated for a balanced approach of prudent supervision and international collaboration to address financial stability risks.