A no-deal Brexit could throw the international swaps market into disarray in a way that could be difficult to predict, and could have dire consequences for U.S. banks and the world economy.
The post-Dodd-Frank era is one of rightsizing and tailoring rules, but a key bloc of the regulatory brain trust believes the U.S. still lacks mechanisms that could prove helpful in a crisis.
The Dodd-Frank Act gave the central bank authority to set capital requirements for insurance companies that own a federally insured bank, as well as those determined to be systemically important.
Detractors are suddenly hopeful that the controversial accounting standard could be delayed or altered after FSOC's longer-than-expected closed session on the issue.
The central bank's top regulator said public comments about the new tool, used to gauge capital strength during stress tests, will likely result in changes before it is adopted.
The Financial Stability Oversight Council announced Wednesday that it was rescinding the SIFI label for Prudential, a culmination of almost a decade of fierce debate about how regulators should address the risk of nonbank financial firms.
