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SEC Alert! Special filing via Sunshine Act Meeting for an OPEN Meeting on Wednesday, July 12, 2023 at 10a.m. SEC will consider whether to seek comment on whether similar daily reserve computation requirements should apply to broker-dealers

Source: https://public-inspection.federalregister.gov/2023-14559.pdf MATTERS TO BE CONSIDERED: 1. The Commission will consider whether to adopt amendments to certain rules that govern money market funds and related form amendments. The Commission will also consider whether to adopt amendments to Form PF to revise reporting requirements for large

Federal Reserve Alert! Delivery Delay for FedPayments Reporter Reports July 06, 2023 11:27 AM Eastern Time. Affected Areas: FedACH

The share of nonfinancial firms in financial distress has reached a level that is higher than during most previous tightening episodes since the 1970s

Source: https://www.federalreserve.gov/econres/notes/feds-notes/distressed-firms-and-the-large-effects-of-monetary-policy-tightenings-20230623.html TLDRS: Since March 2022, U.S. monetary policy has become tighter. More businesses are financially distressed now than in previous instances of tightening since the '70s. * Studies suggest that these conditions could lead to significant declines in investment and

SEC Alert! JPMorgan DELETED approximately 47 million electronic communications in about 8,700 electronic mailboxes relating to the period January 1 through April 23, 2018.

Because of this, JPMorgan could not produce records on 12 cases they received subpoenas on. Penalty? $4 million fine and censure https://www.sec.gov/litigation/admin/2023/34-97787.pdf 1. These proceedings arise out of the deletion by JPMorgan of approximately 47 million electronic communications in about 8,700

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