Commentary by Daniel Meade
The U.S. House Financial Services Committee heard testimony from the CEOs of U.S. global systemically important banks on "trends and developments in the industry since the 2008 global financial crisis."
Acting Comptroller of the Currency Keith A. Noreika described risks faced by national banks and federal savings associations and suggested possible regulatory reforms.
Acting OCC Comptroller Michael J. Hsu said that he expects banks to improve credit risk management practices under the new "current expected credit losses" standard.
The Office of the Comptroller of the Currency, Federal Reserve System and FDIC adopted final rule amendments to simplify certain aspects of the capital rule for banking organizations that do not use advanced approaches in their capital frameworks.
Agencies updated a FAQ document to clarify the capital treatment of certain Collateralized Debt Obligations.