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.
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The American Banking Association, SIFMA and the Institute of International Bankers proposed revisions to a Federal Reserve Board proposal to modify its regulations for determining "whether a company has the ability to exercise a controlling influence" on another company.
Several trade associations submitted comment letters responding to the FDIC's proposed rulemaking to restrict the contractual provisions of qualified financial contracts entered into by certain FDIC-supervised institutions.
In a comment letter on the FRB's "Principles for Climate-Related Financial Risk Management for Large Financial Institutions," the American Bankers Association supported efforts to create "a high-level guide for the largest institutions," but raised concerns on both substance and process.
Several banking associations urged the Federal Reserve Board, the FDIC and the OCC to make public all data and analyses used to develop the recently proposed amendments on capital requirements for large banking organizations.