Republican members of the House Financial Services Committee urged banking regulators to withdraw their Basel III Endgame proposal. The legislators argued that, as issued, the proposal "lacks justification, lacks rigorous quantitative analysis, and is procedurally flawed."
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The House Financial Services Committee, Subcommittee on Financial Institutions and Monetary Policy, considered testimony on whether the Federal Reserve should limit or expand its function as lender of last resort.
CFTC Commissioner Summer K. Mersinger described current regulatory challenges in the energy and power markets, emphasizing the difficulty that regulators face in dealing with new technology under rules and regulations adopted before these advances are made.
House Financial Services Committee Chair Patrick McHenry (R-NC) and Subcommittee Chair Andy Barr (R-KY) asked GAO to evaluate the role played by each federal banking agency in developing new capital standards consistent with the Basel Committee on Banking Supervision.
In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.