The Inter-Agency Working Group for Treasury Market Surveillance reported progress on efforts to ensure that the Treasury market "remains the deepest and most liquid market in the world and a central component of the financial system."
FDIC Vice Chair Travis Hill expressed concern that "an overreaction is underway" from regulators in response to the bank failures in March 2023.
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.
The SEC set effective and compliance dates for amendments aimed at preventing runs on money market funds during times of financial stress. The SEC is adopting a tiered approach to the transition periods for the final amendments.
The Federal Reserve Board, FDIC, OCC and National Credit Union Administration advised depository institutions to take steps to ensure access to contingency funding under a range of possible stress scenarios.