Following the Federal Reserve Board, the FDIC signed off on proposed measures to ease resolution planning requirements and tailor supervisory standards for foreign banking companies operating in the U.S.
The administration’s move seems aimed at cutting down on regulation. But broader reviews by the White House under the Congressional Review Act could hinder rules the industry supports.
Despite consensus that regulators should ease so-called “living will” requirements by some degree, critics charge that a proposal by the Fed and FDIC could undo gains in making large banks easier to resolve.
The San Francisco bank is under pressure from investors to get out from under a Fed-imposed asset cap and to hire a new permanent CEO. But executives said Friday that thoroughness is more important than speed.
Arguments that the central bank should develop its own system for faster payments ignore current market realities, argues The Clearing House, which has developed its own network.
The Trump administration directed independent agencies to submit their pending regulations for review by the Office of Information and Regulatory Affairs, a novel procedural hurdle that could slow down policy changes.
A fourth Senate Republican said he'd vote against businessman Herman Cain joining the Federal Reserve Board, all but sinking any chances that he'd get through the confirmation process if Democrats stay united in their opposition.
Regulators and lawmakers go to great lengths to avoid using the term for reforms in the Trump era, but its meaning is consistent with recent steps to revise and clarify the post-crisis regime.
In 2016, a big-bank consortium said that it would charge the same prices to all institutions, regardless of their size. But now the group has added a large caveat to that pledge.
