Week InReview | Banking agencies to consider Basel Committee revisions on credit risk | SEC Chair: FSOC must be 'mindful' of calls for more transparency | Insurance isn't why nonbank financials designated risky | ICYMI + Binge Reading

Friday, December 11, 2015

Let's recap

In case you missed it . . .

Emerging Markets Face Record Bond Tab as Fed Prepares Liftoff (12/9)

This Chart Shows the Incredible Rise in Extendable Repos (12/8)

Objective Recap of Accusations Levied at 'Big Banks' and MBA (12/7)

Here's an Even Weirder Thing Happening in Financial Markets (12/7)

Leverage Ratio for Banks Can Rise as High as 5%, BIS Says (12/6)

Basel Committee revisions on credit risk

U.S. banking agencies to consider proposals

(Dec 10) The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) will consider the proposals identified in the Basel Committee on Banking Supervision's consultative paper, which would adjust rules for gauging banks' credit, market and operational risks. The banking agencies would review the proposals with a "goal of developing a stronger and more transparent risk-based capital framework for the largest institutions."

U.S. AGENCIES JOINT RELEASE

BIS RELEASE & FULL TEXT

FSOC in the House: SEC Chair Mary Jo White

Council must be 'mindful' of calls for more transparency

(Dec 8) Financial Stability Oversight Council's effort to enhance its transparency is "important," SEC Chair Mary Jo White said in testimony prepared for House Financial Services Committee hearing on FSOC. While any changes to FSOC's process must be "cognizant of the sensitive, company-specific information that is being assessed and required to be kept confidential, it is important for the Council to be mindful of calls for greater transparency and to provide ways for the public and other interested parties to have greater insight and input into issues concerning U.S. financial stability," White said.

FSOC in the House: NCUA Chair Debbie Matz

Insurance isn't why nonbank financials designated risky

(Dec 8) Financial Stability Oversight Council members told a House panel that the Council isn't worried about the insurance side of the nonbank financial companies it designates as systemically risky to the U.S. economy. The financial services side of companies is where the Council has concerns, National Credit Union Administration Chair Debbie Matz told the House Financial Services Committee after FSOC's insurance expertise was criticized. One of FSOC's 10 voting members, she countered the criticisms by saying that the designations aren't related to the insurance side of businesses and that companies should monitor their business models in the financial services area.

Binge reading disorder

Hand-curated, chosen with love

Top 10 Wines of 2015: From $20 Furmint to $8,540 Champagne (Bloomberg)

The Best Movies of 2015 (The New York Times)

The Top 10 Things Wall Streeet Was Only Pretending To Understand in 2015 (Dealbreaker)

Top 25 News Photos of 2015 (The Atlantic)

Born to be Conned (The New York Times)

Transparency.

Inclusiveness.

Consensus.