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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Senate Banking Committee Chair Sherrod Brown (D-OH) pressed Treasury, the SEC and the CFTC to take further action to remedy disclosure deficiencies associated with digital asset tokens and digital asset platforms.
Senator Elizabeth Warren (D-MA) asked Treasury Secretary Janet L. Yellen, in her role as Chair of the Financial Stability Oversight Council, to address risks to U.S. financial stability caused by the Federal Reserve Board's "rapid increase" in interest rates.
The House Financial Services Committee heard testimony on a joint proposal from the Federal Reserve Board, FDIC and OCC that would increase bank capital requirements consistent with standards issued by the Basel Committee on Banking Supervision.
The House Financial Services Committee heard testimony from witnesses regarding the implications of the issuance of a Central Bank Digital Currency on the U.S. financial system.