Dismal's Smacks

🌙 ☀️

Sign in Subscribe

dismal-jellyfish

dismal-jellyfish

According to 6 people briefed on the matter, U.S. banks are pushing to soften proposed upcoming capital requirement hikes (rumored 20%).

"The baseline has shifted to an assumption that the scale and scope of the proposal is going to be far more punitive than anyone expected at the end of last year," Source: https://www.reuters.com/business/finance/us-banks-push-back-regulators-prepare-international-capital-hikes-2023-06-22/ A follow up to: https://www.reddit.com/r/

FDIC Chair: "In the near term, the FDIC, together with the Federal Reserve & the Office of the Comptroller of the Currency, will issue a notice of proposed rulemaking to seek public comment on changes to the U.S capital framework to consider how best to..

https://www.fdic.gov/news/speeches/2023/spjun2223.html Highlights: They say strong and resilient all the time, interesting they are looping 'that in' to push for these reforms--gotta enhance! TLDRS: After the 2008 financial crisis, banks were found to be undercapitalized and over-leveraged, leading to a complete

Swiss National Bank in its 2023 Financial Stability Report on Credit Suisse: "these observations also raise questions regarding the ability of the Too Big To Fail "TBTF" framework.

https://www.snb.ch/n/mmr/reference/stabrep_2023/source/stabrep_2023.n.pdf * These measures need to strengthen banks’ resilience in order to prevent a loss of confidence wherever possible, and ensure a broad range of effective options to stabilise, recover or wind down a systemically important bank in

Inflation Alert! Bank of England (50 basis points), Norway Central Bank (50 basis points), Swiss National Bank (25 basis points) all raise interest rates to combat inflation.

Remember, JPow told Congress yesterday rate hikes needed here but the Fed is not acting while other central banks are. Norway: https://www.norges-bank.no/en/topics/Monetary-policy/Monetary-policy-meetings/2023/june-2023/ Policy rate raised to 3.75 percent Norges Bank's Monetary Policy and Financial Stability Committee decided to

Options Clearing Corporation ("OCC") Alert! OPEN for comment: Proposed Rule Change by OCC Concerning Recovery and Orderly Wind-Down Plan ("RWD Pan").

How can the public comment when RWD Plan Supporting Information (Exhibit 3) & Recovery and Orderly Wind-Down Plan (Exhibit 5) is entirely [REDACTED]? https://www.sec.gov/rules/sro/occ/2023/34-97785.pdf https://www.theocc.com/getmedia/5b481175-5bf4-49e4-b8a5-90d640707c63/sr_occ_2023_005.pdf Purpose: * The RWD Plan was adopted

The Investment Adviser Association is requesting the SEC "step back and holistically consider the practical ramifications of the more than a dozen consequential new rules & proposals impacting advisers that the agency has issued since SEC Chair Gary"

The Investment Adviser Association is requesting the SEC "step back and holistically consider the practical ramifications of the more than a dozen consequential new rules & proposals impacting advisers that the agency has issued since SEC Chair Gary Gensler took office." They've commented, will you? Look

Options Clearing Corporation (OCC) alert! Approval of proposed rule to amend & enhance the OCC's Model Risk Management Policy.

Looks to address OCC model risk that if not managed properly could potentially cause OCC to under-collect the collateral used to cover credit risk posed by a Clearing Member https://www.sec.gov/rules/sro/occ/2023/34-97763.pdf Background: * Options Clearing Corporation ("OCC") is a central counterparty