Sign in Subscribe

Latest

Inflation Alert! Governor Lisa Cook: "there is evidence that the path back to our low and stable inflation goal could be long and is likely to be uneven and bumpy."

"All of these measures have come off their peaks but remain elevated, suggesting that inflation has become broad based in the economy." Source: https://www.federalreserve.gov/newsevents/speech/cook20230421a.htm Highlights: * "there is evidence that the path back to our low and stable inflation goal could
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics

-$71.8996 billion withdrawn from commercial banks in the last week (April 5th-April 12th). Since 2/22/2023, $511.37 billion in deposits have been pulled. $978.7387 billion in deposits has been pulled in the last year.

https://fred.stlouisfed.org/series/DPSACBW027SBOG Domestically chartered commercial banks divested $87 billion in assets to nonbank institutions in the week ending March 29, 2023. The major asset item affected was the following: securities, $87 billion. Domestically chartered commercial banks divested $87 billion in assets to nonbank institutions in the
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics

Assistant Secretary for Terrorist Financing and Financial Crime Elizabeth Rosenberg on DeFi: "Treasury considers any DeFi service performing the functions of a covered financial institution to be subject to BSA obligations, including AML/CFT obligations"

"Treasury considers any DeFi service performing the functions of a covered financial institution to be subject to BSA obligations, including AML/CFT obligations, regardless of how decentralized" Remarks by Assistant Secretary for Terrorist Financing and Financial Crime Elizabeth Rosenberg on DeFi Risk Assessment at the Atlantic Council Additional
dismal-jellyfish ๐Ÿงฑ Market Reform

OPEN FOR COMMENT: For the first time, the FSOC is proposing to issue a framework broadly explaining how it identifies, evaluates, and responds to potential risks to U.S. financial stability, whether they come from activities individual firms, or otherwise

Source: https://home.treasury.gov/news/press-releases/jy1432 The Financial Stability Oversight Council (Council) today voted unanimously to issue for public comment a proposed analytic framework for financial stability risks. ย This new framework is intended to provide greater transparency to the public about how the Council identifies, assesses, and addresses
dismal-jellyfish ๐Ÿงฑ Market Reform

Gary Gensler: "We must build upon the work of the Hedge Fund Working Group. That means looking at large, interconnected, highly-levered hedge funds, associated repo markets for financing, the prevalence of low to 0 haircuts in such funding..."

Gary Gensler: "We must build upon the work of the Hedge Fund Working Group. That means looking at large, interconnected, highly-levered hedge funds, associated repo markets for financing, the prevalence of low to 0 haircuts in such funding, & the extension of leverage from banks & prime brokers."
dismal-jellyfish ๐Ÿงฑ Market Reform

FICC Alert! FICC approves rule change to Revise the Description of the Stressed Period Used to Calculate the Value-at-Risk Charge.

FICC represents that, in order to mitigate the increased risk exposures, FICC has to quickly and timely respond to rapidly changing market conditions. SR-FICC-2023-003 34-97342 Order Granting Proposed Rule Change to Revise the Description of the Stressed Period Used to Calculate the Value-at-Risk Charge and Make Other Changes Source: https:
dismal-jellyfish ๐Ÿงฑ Market Reform