The House Financial Services Committee considered testimony from witnesses on the impact of, and interaction between, recent regulatory banking proposals to implement Basel standards and increase capital requirements.
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The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.
The Federal Reserve Board, FDIC, OCC and National Credit Union Administration advised depository institutions to take steps to ensure access to contingency funding under a range of possible stress scenarios.
The OCC updated its guidance for examiners on assessing a bank's liquidity risk management practices.
President Joseph R. Biden urged banking regulators to adopt tougher capital rules to prevent the risk of future banking crises following the failure of Signature Bank and Silicon Valley Bank.