News Topic: SIFIs

The Financial Stability Oversight Council said Friday that AIG, whose collapse threatened to bring down the U.S. financial system during the financial crisis, should no longer be subject to enhanced standards. ... Read full article

Under the bill, regional banks may eventually be able to shed the systemically important financial institution designation that subjects those with more than $50 billion in assets to tougher regulatory requirements. ... Read full article

The Trump administration has implemented an apparent role reversal for the Financial Stability Oversight Council, leaving the true intended role of the post-crisis systemic risk body unclear. ... Read full article

Ironically, the credit bureau’s rise was built on promise to safeguard customers’ most sensitive information; bank to build global ops center in Warsaw. ... Read full article

The lack of progress by the Trump administration with an examination of hedge fund risks is particularly troubling in light of key Trump backers’ ties to the hedge fund industry. ... Read full article

The Financial Stability Oversight Council meets Friday to discuss removing the label from the now shrunken insurer; Senate Banking Committee to hear Richard Smith on October 4. ... Read full article

CFPB director gives political speech but avoids saying if he will run for governor in Ohio; Treasury is looking into getting rid of the "too big to fail" label. ... Read full article

Financial institutions increasingly depend on large tech companies such as Google and Apple for infrastructure, said the group that runs the Davos conference, stopping well short of recommending regulatory changes. ... Read full article

The Westbury, N.Y., company reported a 15% drop in earnings despite recording a large gain on the sale of some securities. ... Read full article

Regional banks are hoping that recent comments by Fed Chair Janet Yellen can add fuel to their efforts to replace the $50 billion asset threshold for systemically important banks with a regulatory indicator test. ... Read full article

Senate Banking Committee Chairman Mike Crapo sounded optimistic Thursday about reaching a bipartisan deal for regulatory relief, but a hearing once again emphasized the gulf between what lawmakers are likely to pass and what the industry is seeking. ... Read full article

One of the greatest factors hindering a full recovery following the 2008 crisis is improperly calibrated regulation, particularly of regional banking institutions. ... Read full article

Readers sound off on the use of AI in underwriting, the reasons for the failure of a Milwaukee bank, U.S. banks’ progress in adopting APIs, and more. ... Read full article

Without powers granted by the Dodd-Frank Act to unwind failing financial firms, a central and known problem that contributed to our last financial crisis would become a core problem of our next one. ... Read full article

The Financial Stability Oversight Council discussed its designation of certain nonbanks as systemically important and the "efficacy" of the Volcker Rule at a closed-door meeting on Monday. ... Read full article

Andreas Dombret, the top banking regulator in Germany, said that international standards need to be vigorously enforced and implemented. ... Read full article

As Treasury Department officials review the Financial Stability Oversight Council’s designation process, they should also reexamine how the Dodd-Frank Act defines systemic risk. ... Read full article

The interagency regulator says it needs time to coordinate with member agencies on its SIFI designation process. ... Read full article