Financial Services
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Small changes to stress testing could have big impact on risk, Tarullo says
By John Heltman
May 21, 2019, American Banker
Former Federal Reserve Gov. Daniel Tarullo broke his silence over several of the central bank’s recent proposals to revamp regulations put in …
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BOA CTO: Have Yet to Find Blockchain Use for Financial Services
Catherine P. Bessant, chief operation and technology officer at Bank of America, discusses blockchain use within financial services and deploying artificial intelligence. She speaks with Bloomberg’s Alix Steel on “Bloomberg …
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SocGen Chairman Sees Low Rates for `Much Longer Than Expected’
Lorenzo Bini Smaghi, chairman of Societe Generale SA, discusses the impact of low interest rates on profitability. He also comments on European banking consolidation and the French lender’s cost-cutting plans …
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GOP goes to bat for banks in risky move to boost growth
By Zachary Warmbrodt
May 19, 2019, Politico
Congressional Republicans, looking to boost the economy as an election year approaches, are pushing for a politically risky solution to help ward off …
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Banks to invest around $50 million in digital cash settlement project – sources
By Anna Irrera
May 16, 2019, Reuters
Several of the world’s largest banks are in the process of investing around $50 million to create a digital cash system using blockchain …
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Why MiFID II is a menace to investment banking in Europe
By Andrea Vismara
May 12, 2019, Financial Times
MiFID II is contributing to the slow death of European investment banking, and regulators must act.
The directive, brought into force in …
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U.K. lawmakers square up to regulator over duty of care for banks
By Huw Jones
May 13, 2019, Reuters
A legal duty for banks to act in the best interests of their customers may be needed, British lawmakers said on Monday, piling …
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Brown to regulators: Be ready to discuss leveraged loans at hearing
By Neil Haggerty
May 13, 2019, American Banker
Banking regulators testifying in Congress this week must provide details on leveraged lending risks after Treasury Secretary Steven Mnuchin failed to “substantively” …
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Treasury’s Mnuchin backs plan to ease non-bank oversight despite predecessors’ criticism
May 13, 2019, MLex
U.S. Treasury Secretary Steven Mnuchin endorsed a regulatory plan to erect barriers to deeming a non-bank systemically important even as it was decried as a “substantial …
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Evaluating the Federal Reserve’s Control Proposal
By The Gallatin Group
Originally published on Gallatin’s Insights blog
On April 23, 2019, the Board of Governors of the Federal Reserve System (“Federal Reserve” or the “…
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