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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.  

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Highlights

Are Bank Regulators Special?

Are Bank Regulators Special?

Banks are special, but are banking regulators also special? The answer is that the federal banking regulators operate in a cultural mindset different from other financial sector agencies and the larger administrative state.
TCH Files Comment Letter in Response to the Hong Kong Monetary Authority’s Public Consultation

TCH Files Comment Letter in Response to the Hong Kong Monetary Authority’s Public Consultation

The Clearing House on March 16 filed a comment letter in response to the Hong Kong Monetary Authority’s public consultation on how it would set requirements for internal TLAC.
Basel IV Requires Serious U.S. Review

Basel IV Requires Serious U.S. Review

When the Basel Committee on Banking Supervision announced agreement on Basel IV capital standards at the end of 2017, U.S. reaction was muted.
2017 Q4 TCH Bank Conditions Index shows the banking system remains extremely resilient

2017 Q4 TCH Bank Conditions Index shows the banking system remains extremely resilient

The financial stability assessment provided by the Federal Reserve in its recent report to Congress indicates that the strength of the banking system is currently an important source of resilience in the financial system.
Yes, the Dodd-Frank Act ended ‘Too Big to Fail’

Yes, the Dodd-Frank Act ended ‘Too Big to Fail’

A recent FRBNY blog post, Did the Dodd-Frank Act End ‘Too Big to Fail’?, finds that debt spreads between bank holding companies and their commercial bank subsidiaries have not widened, and suggests that markets therefore have not reduced the likelihood they attach to government bailouts.
TCH Responds to the Federal Reserve’s Proposed Amendments to Its Internal Appeals Process and to Its Ombudsman Policy

TCH Responds to the Federal Reserve’s Proposed Amendments to Its Internal Appeals Process and to Its Ombudsman Policy

The Clearing House (TCH), joined by the FSR, filed a comment letter responding to the Federal Reserve’s proposed amendments to its internal appeals process for material supervisory determinations and to its Ombudsman Policy