February 10, 2023
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Federal Reserve Board releases hypothetical scenarios for its 2023 bank stress tests
February 9, 2023
The Federal Reserve Board released the hypothetical scenarios for its annual stress test. This year, 23 banks will be tested against a severe global recession with heightened stress in both commercial and residential real estate markets, as well as in corporate debt markets. In sum, under the 2023 stress test scenario the U.S. unemployment rate rises nearly 6-1/2 percentage points, to a peak of 10 percent. In addition to the hypothetical scenario, banks with large trading operations will be tested against a global market shock component that primarily stresses their trading positions. For the first time, the stress test will feature an additional exploratory market shock to the trading books of the largest and most complex banks, with firm-specific results released.
OCC Releases Dodd-Frank Act Stress Test Scenarios for 2023
February 9, 2023
The Office of the Comptroller of the Currency (OCC) released economic and financial market scenarios for use in the upcoming stress tests for covered institutions.
Hearing: The State of Housing 2023
February 9, 2023
The U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing entitled, "The State of Housing 2023."
United States and United Kingdom Sanction Members of Russia-Based Trickbot Cybercrime Gang
February 9, 2023
The United States, in coordination with the United Kingdom, is designating seven individuals who are part of the Russia-based cybercrime gang Trickbot.
Paper: Early Joiners and Startup Performance
February 9, 2023
The Federal Reserve Board published a working paper entitled, "Early Joiners and Startup Performance."
The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter
February 9, 2023
The Federal Reserve Bank of New York issued its quarterly report to Congress indicating that the Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the October – December 2022 quarter
Article: Community Banking Innovation and Risk Management in the Second District
February 9, 2023
The Federal Reserve Bank of New York Head of Supervision Dianne Dobbeck published an article in Community Banking Connections entitled, "Community Banking Innovation and Risk Management in the Second District."
Article: Boston Fed asks: Can faster access to their own money benefit lower-income communities?
February 9, 2023
The Federal Reserve Bank of Boston published an article entitled, "Boston Fed asks: Can faster access to their own money benefit lower-income communities?"
Prepayment Monitoring Report Fourth Quarter 2022
February 9, 2023
The Federal Housing Finance Agency released the Prepayment Monitoring Report for the fourth quarter 2022.
Ginnie Mae Announces Low-to-Moderate Income Disclosure, Enhancing ESG Social Metrics |
February 9, 2023
Ginnie Mae announced the launch of a new Low-to-Moderate Income (LMI) disclosure designed to augment the LMI Geographical disclosure released in May 2021. This development is in response to investor interest in having greater transparency into Ginnie Mae mortgages in pools, in particular as part of meeting Environmental, Social, and Governance investment mandates.
Annual Reports for the Treasury Select Committee
February 9, 2023
Huw Pill, Bank of England Chief Economist and Monetary Policy Committee Member, and Professor Jonathan Haskel, External Member of the Monetary Policy Committee, published their annual reports for the Treasury Select Committee.
Feedback Statement on Synthetic Data Call for Input
February 9, 2023
The UK Financial Conduct Authority published a feedback statement on the synthetic data Call for Input.
Office of the Comptroller of the Currency
Financial Crimes Enforcement Network
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Reserve Bank of Boston – Susan M. Collins (effective July 1, 2022)
Federal Deposit Insurance Corporation – Martin Gruenberg (effective January 5, 2023)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Commodity Futures Trade Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
Click here to read more from our Coronavirus series.
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act"), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view the full text of the Consolidated Appropriations Act, 2021, Enacted December 27, 2020.
Click here to view the full text of the American Rescue Plan of 2021, Enacted March 11, 2021.
Click here to view the full text of the PPP Extension Act of 2021, Enacted March 30, 2021.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.