US Congress
Fed to expand paycheck liquidity facility after criticism
Some observers say Paycheck Protection Program not reaching most affected firms
US jobless claims eclipse previous week’s record high
Economy will require more fiscal support, say current and former senior government officials
Accounting for losses during a pandemic
US banks get green light from senators to use loan loss accounting methods widely criticised following 2008 crisis
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
Fed expands lending facility to support municipal bond market
Political pressure mounting to support local governments; senator proposes bill to broaden QE powers
Fed open to more than one Libor replacement – Powell
Lawmaker voices concerns that current replacement rate lacks credit sensitivity
Stress test capital buffer ‘on track’ for 2020 testing – Powell
Plans were floated nearly 22 months ago, but Fed yet to offer final rule
US Democrats strongly criticise regulator
Some lawmakers accuse OCC head Otting of ignoring Congress over controversial lending proposals
Powell says Fed is increasing work on climate change risk
“Climate change is an important issue, but not principally for the Fed,” Powell says
Ripple attempts to pacify US regulators after libra hearings
Payments service provider says crypto assets would be complementary to dollar
US lawmakers slam Facebook’s ‘delusional’ Libra plan
Libra executive grilled at US hearing over Facebook’s history of scandals
Senators urge Fed to investigate Trump and Deutsche Bank allegations
Whistleblowers allege financial wrongdoing by senior bank staff and transactions involving Trump
US lawmakers establish task forces to examine fintech and AI
Task forces aim to assess risk to economy and investigate regulation surrounding fintech and AI
Moore quits Fed nomination process
Growing pressure from Republican senators slashed his odds of being confirmed
Trump plans to nominate second loyalist to Fed board
Herman Cain has strongly supported a return to gold standard in the past
US crypto-asset regulation needs strengthening – Massad
Former CFTC chair Timothy Massad recommends a path for regulatory reforms
Trump does not grasp macroeconomic policy – Yellen
Former Fed chair doubts president could recite Fed’s dual mandate goals
US House passes deregulation bill with bipartisan support
Once President Trump signs it, measure will relieve some regional banks from stricter requirements
Dollar may soon give breathing space to emerging economies
Global growth, higher US debts and a tighter ECB policy could weigh on the currency
Quarles advocates end to ‘micromanagement’ of supervised banks
Fed’s vice-chair for supervision aims to preserve a secure financial system and foster efficiency
Archive – Interview: Allan Meltzer
Robert Pringle talks to Allan Meltzer, Carnegie Mellon professor and chair of the US Congress’s International Financial Institution Advisory Commission (the “Meltzer Commission”); first published in February 2003
IMF research explores effects of lighter rule on US banks
Republicans in Congress claim Dodd-Frank increases complexity and hampers small banks’ lending
Congress urged to curb Fed’s regulatory powers
House hearing revives the debate on consolidating US regulatory agencies