Twitter RSS

Capital and Prudential Standards Blog

magnify
Home Archive for category "Speeches" (Page 2)
formats

Federal Reserve Governor Stein Discusses Fire-sales Problem Associated with Securities Financing Transactions and Potential Policy Remedies

Today, Federal Reserve Governor Jeremy C. Stein delivered a speech discussing the fire-sales problem associated with securities financing transactions (SFTs) and potential policy remedies, including a liquidity-linked capital surcharge, modifications to liquidity standards such as the Basel III net stable funding ratio (NSFR) and universal margin requirements for SFTs.

Existing Regulatory Tools:  In his speech, Governor Stein argued that “the mainstays of our existing regulatory toolkit–risk-based capital, liquidity, and leverage requirements–have a variety of other virtues, but none seem well-suited to lean in a comprehensive way against the specific fire-sale externalities created by SFTs.”

New Regulatory Tools:  Governor Stein went on to consider other tools that might be better suited to dealing with SFT-related fire-sales externalities. …  Read More

Comments Off on Federal Reserve Governor Stein Discusses Fire-sales Problem Associated with Securities Financing Transactions and Potential Policy Remedies.
formats

Davis Polk Hosts Webcast Series on U.S. Basel III Final Rule

On July 24, 2013, Davis Polk lawyers Luigi L. De Ghenghi and Andrew S. Fei hosted a series of interactive webcasts on the U.S. Basel III final rule. In three separate sessions, the webcasts discussed key aspects of U.S. Basel III for community banks, regional banks, and foreign banking organizations with significant U.S. operations.
Comments Off on Davis Polk Hosts Webcast Series on U.S. Basel III Final Rule.
formats

Federal Reserve Governor Tarullo Previews Additional Capital Standards for U.S. G-SIBs

In his statement at today’s open meeting to approve the U.S. Basel III final rule, Federal Reserve Governor Daniel K. Tarullo previewed “four rulemakings that will enhance capital requirements for the eight U.S. banking organizations already identified as of global systemic importance.”  Governor Tarullo described these four rulemakings for the 8 U.S. G-SIBs as being in various stages of development.

1.  Higher Basel III Leverage Ratio:  According to Governor Tarullo, the U.S. banking regulators are very close to issuing a proposal to establish a leverage ratio for the eight U.S.…  Read More

Comments Off on Federal Reserve Governor Tarullo Previews Additional Capital Standards for U.S. G-SIBs.
formats

Federal Reserve Governor Tarullo Delivers Speech Setting Forth Roadmap for U.S. Prudential Regulatory Reforms

Today, Federal Reserve Governor Daniel K. Tarullo delivered a speech setting forth a roadmap for prudential regulatory reforms in the United States.  Among other things, Governor Tarullo:

  • U.S. Basel III:  Appealed to other U.S. bank regulators to approve the U.S. Basel III final rules to avoid further implementation delays, noting that they can always seek further changes down the road.
  • Leverage Ratio:  Suggested that the Federal Reserve may require the largest U.S. firms to maintain a Basel III leverage ratio greater than the 3% agreed upon by the Basel Committee.
 Read More
Comments Off on Federal Reserve Governor Tarullo Delivers Speech Setting Forth Roadmap for U.S. Prudential Regulatory Reforms.