In three separate letters, SIFMA and six other financial industry associations filed comments with the Office of the Comptroller of the Currency ("OCC"), the Board of Governors of the Federal Reserve System ("FRB") and the Federal Deposit Insurance Corporation ("FDIC") (collectively, the "Federal Agencies") on the proposed rules regarding the liquidity coverage ratio ("LCR"). The letters contained comments on the LCR proposal in connection with international standards, securitization and municipal securities. In the first letter (linked below), SIFMA, the Structured Finance Industry Group (
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CFPB Director Rohit Chopra and SIFMA President Kenneth E. Bentsen, Jr. published opposing public statements on proposed revisions to capital requirements for large banking organizations.
The U.S. House Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets considered legislation and testimony concerning the transition from the London Inter-Bank Offered Rate.
Acting Comptroller of the Currency Michael J. Hsu addressed the threats posed to consumer trust in banking from inequality, digitalization, complacency and climate-related risk.
In a podcast interview, OCC Comptroller Michael J. Hsu highlighted the importance of "inclusion" in the development of a regulatory framework for crypto activities.