The Clearing House Association and Financial Services Roundtable to Combine Forces

Washington, DC--The Financial Services Roundtable (FSR) and The Clearing House (TCH) have announced plans to combine the activities of The Clearing House Association (TCH Association), TCH's non-partisan advocacy and research arm, with those of FSR. Upon completion, TCH Association President Greg Baer will become Chief Executive Officer for the new organization.

WSJ Editorial Board continues to make odd claims about bank capital and government support

Rarely does one read anything as wrong as this passage from a recent Wall Street Journal editorial (“Warren Democrats for Wall Street”) on pending Senate banking legislation: “Smaller banks are better capitalized than large institutions in large part because they don’t benefit from a government safety net.”

The Fed probably discussed raising the countercyclical capital buffer today. It shouldn’t

On the first day of every FOMC meeting not followed by a press conference (such as today), the Fed receives a briefing on financial stability.  Based on recent communications, it seems likely that the Fed may discuss raising the counter cyclical capital buffer (CCyB) to enable it to maintain an accommodative stance of monetary policy.