At a hearing before the House Committee on Financial Services, representatives considered legislative recommendations from the November 2021 President's Working Group Report on stablecoins.
In a new report, the Congressional Research Service analyzed the 2007 market crash and the 2020 pandemic crash, the steps that Congress took after each of these crises, and the authorities that the regulators relied upon to reduce systemic risk and avert market crashes.
Senator Elizabeth Warren (D-MA) urged the Financial Stability Oversight Council to address risks to the U.S. financial system arising from cryptocurrencies.
The Congressional Research Service reviewed the regulatory status of Fannie Mae and Freddie Mac and issues that the government-sponsored enterprises might face in emerging from conservatorship.
The Financial Stability Oversight Council reviewed a proposed regulatory capital framework by the Federal Housing Finance Agency for Fannie Mae and Freddie Mac.