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.
The Options Clearing Corporation proposed amendments to formalize the procedures under which it would adjust the parameters for calculating margin requirements during periods of high market volatility.
The Futures Industry Association published an analysis on the evolution of the methodology used by central clearinghouses for the purpose of calculating margin for exchange-traded derivatives.
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.