The House Financial Services Committee, Subcommittee on Financial Institutions and Monetary Policy, considered testimony on whether the Federal Reserve should limit or expand its function as lender of last resort.
The CFTC solicited public comments on a proposed comparability determination and related Order for certain CFTC-registered swap dealers domiciled in the United Kingdom and subject to prudential supervision by the UK Prudential Regulation Authority.
Acting Comptroller of the Currency Michael J. Hsu argued that careful consideration should be given to any regulatory enhancements to help ensure that "updated liquidity risk management practices are implemented and sustained systematically and consistently, especially across midsize and large banks."
Twelve Senate Democrats urged FRB Vice Chair Michael S. Barr, FDIC Chair Martin J. Gruenberg and OCC Acting Comptroller Michael J. Hsu to adopt proposed regulatory capital rules "to complete adoption of the Basel standards, strengthen the resiliency of our financial system, and ensure that American consumers, workers, and businesses are better protected from future economic distress."
Federal Reserve Board Governor Michelle W. Bowman offered a proposed path forward to address the balance needed for successful bank capital reform in the financial markets.