Banking
Quarles term as Fed vice-chair ends without replacement
Fed supervision committee will continue without a chair, acting on consensus basis
OCC issues $250 million penalty against Wells Fargo
US regulator says bank has failed to meet commitments on loss mitigation
US regulators warn Wells Fargo of new penalties, report claims
Bloomberg says OCC and CFPB believe US bank is moving too slowly on compensating scam victims
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer
Papua New Guinea central bank penalises largest lender
Regulators issue warning on AML breaches at BSP, but observers say actions are not strict enough
US regulators to align policies on lower income lending
OCC backs down on separate CRA rules and starts joint consultation with Fed, FDIC
RBI fines banks for violations in non-bank lending
Central bank alleges “deficiencies in regulatory compliance” but gives few details
US comptroller takes direct charge of agency’s bank supervision
US agency eliminates chief operating officer role as part of internal reorganisation
Mexico reminds banks crypto transactions are illegal
After El Salvador bitcoin law, authorities state virtual assets ‘not legal tender in Mexico’
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
US Congress votes to repeal ‘true lender’ rule
Trump-era provision allowed lenders to partner with big banks, which prompted usury fears
EU blocks 10 major banks from bond issuances
Commission alleges lenders need to clarify previous antitrust breaches
Think-tank urges Fed to tackle climate risk with capital regulation
Paper calls for more urgent Fed action to address risks in bank and non-bank sectors
Bangladesh Bank intervenes over commercial lender
Central bank prohibits new loans and oversees appointments, saying it has found "irregularities"
Kuwaiti central bank orders local national quota for bank managers
Central bank says 70% of management of local banks must be Kuwaitis by 2023
Fed vice-chair: Libor will end
Libor use has expanded, but Quarles says Fed is looking for transition plans
US regulators end leverage ratio exemption
Fed, OCC and FDIC stick to March 31 end date despite reports of industry lobbying
Myanmar central bank suspends over 200 staff for coup protests
Move comes as junta cracks down on government employees joining opposition protests
Pandemic payout freeze increased lending - BIS paper
Research finds restrictions depressed equities but augmented capital buffers and boosted loans
Myanmar central bank caps cash withdrawals
Officials claim measure is part of digital transition, while the military grows more violent
Fed’s Bowman discusses changes to antitrust law
Board member wants competition policy to take better account of smaller banks
ECB changes largest eurozone banks’ leverage ratios
Latest emergency response to Covid-19 should raise banks’ leverage ratios by about 0.3%, ECB says
ECB to integrate climate risks into supervision
Climate change pushing banks to adapt risk management, disclosure, governance and business strategies
Brainard lending proposal gets boost in Congressional hearing
Participants applaud Fed proposal, while strongly criticising plan by OCC’s Otting