U.S. Fed is reviewing capital rules, plans 2023 climate testswww.reuters.com/markets/us/us-feds-new-supervision-chief-barr-lay-out-vision-wall-street-oversight-2022-09-07/
235 sats \ 5 comments \ @jp 12 Sep 2022 bitcoin
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0 sats \ 2 replies \ @jp OP 12 Sep 2022
Pete Schroeder — 7 September 2022
 
In his first speech since joining the Fed in July as Vice Chair of Supervision, Michael Barr outlined an ambitious agenda that could spell a shake-up for big lenders which enjoyed a lighter touch, including easing of some capital rules, under the central bank's previous Republican leadership.
Barr said the capital framework was due for a review to ensure the rules were keeping up with emerging new risks.
"We are looking holistically at our capital tools to understand how they are supporting the resilience of the financial system, individually and in combination," adding the review could inform adjustments to annual bank "stress tests," the supplementary leverage ratio and the countercyclical capital buffer, three key capital levers.
Barr also said the central bank planned to launch a pilot "scenario analysis" next year to assess climate-related financial risks facing lenders, a hotly awaited exercise that over the long-term could change who banks do business with. Barr said next year's test would not, however, dictate capital or who banks can lend to.
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0 sats \ 1 reply \ @jp OP 12 Sep 2022
the central bank planned to launch a pilot "scenario analysis" next year to assess climate-related financial risks facing lenders, a hotly awaited exercise that over the long-term could change who banks do business with
Get ready
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1 sat \ 0 replies \ @shyfire 12 Sep 2022
They want you to live in a stone house without heating, eat their assignment portions of bug meat and take cold showers. Energy scarcity.
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0 sats \ 0 replies \ @HODL 12 Sep 2022
Saving energy is going 100 years back. Thanks to energy, our lives are better. We have TVs, internet devices, washing machines, cookers, water pipes, street lights, etc. We can give it all up to save the energy but our lives will become much harder.
OR we can concentrate on finding and using greener sources of energy and save the environment while improving lives of current and future generations.
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0 sats \ 0 replies \ @siggy47 12 Sep 2022
"Barr said his to-do list also includes stepping up scrutiny of banks' cryptocurrency businesses, based on the principle that the same types of risk are subject to the same regulation."
"Banks engaged in crypto-related activities need to have appropriate measures in place to manage novel risks associated with those activities and to ensure compliance with all relevant laws," he said."
This should be fun.
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