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.
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The Office of the Comptroller of the Currency ("OCC") reminded banks that, along with the Board of Governors of the Federal Reserve System and the FDIC, it is requesting comment on a proposed rule that would (i) implement a net stable funding ratio ("NSFR") requirement for large and internationally active banking organizations and (ii) amend certain definitions in the liquidity coverage ratio rule that also are applicable to the NSFR.
Multiple regulators proposed a rule to implement a net stable funding ratio requirement for large and internationally active banking organizations. The ratio requirement enables regulators to identify covered companies that have heightened liquidity risk profiles that could pose significant risks to U.S. financial stability.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the FDIC requested comments on a proposed rule that would implement a net stable funding ratio requirement for large and internationally active banking organizations. Their request for comments was published in the Federal Register.
Treasury and the Federal Housing Finance Agency suspended certain requirements of the preferred stock purchase agreements between Treasury and Fannie Mae and Freddie Mac.