FDIC

A bipartisan group of ex-inspectors general is pushing Senate leaders to quickly confirm Christy Goldsmith Romero to chair the Federal Deposit Insurance Corp. despite scheduling delays and the upcoming election.

Federal Deposit Insurance Corp. Vice Chair Travis Hill has called for a full reproposal of the Basel III endgame capital standards, emphasizing the need for joint advancement by all three major federal banking agencies and an additional comment period for industry feedback.

During his second day of congressional testimony this week, the Federal Reserve chair said the central bank does not have supremacy over other agencies on their joint rulemaking.

The Federal Reserve chair said there is a consensus within the central bank's board of governors for reproposing its capital rules, but notes that other agencies have not yet signed off on this approach.

A Minnesota trade group and its co-plaintiff, Lake Central Bank, signaled that they plan to appeal a district court's dismissal of their lawsuit against the FDIC. The case involves the agency's guidance on nonsufficient funds fees.

House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg to make himself available for a June 12 hearing on the agency's workplace culture.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the GAO says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.

Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.

Three GOP leaders of the House Financial Services Committee, including Chairman Patrick McHenry, say they'll explore possible connections between the agency's alleged "toxic" work culture and its staffing shortages that may have contributed to this year's banking crisis.

The Federal Deposit Insurance Corp. acknowledges in a new report that it didn't adequately monitor First Republic Bank's uninsured deposits, interest rate risk sensitivity and rapid growth — and as a result left the bank vulnerable to contagion.

The special assessment to refill the Deposit Insurance Fund should be based on uninsured deposits after the failures of Silicon Valley Bank and First Republic Bank, House Republicans said.

The Federal Reserve is leading the push for broader, more standardized risk-capital rules, yet some of its board members, other regulators and industry groups are uncomfortable with the proposal.

The Federal Deposit Insurance Corp. says it has extended the deadline for bids on Silicon Valley Bank, will break the bank into two parts for sale and will allow nonbanks to bid on asset portfolios.

Banks reported record growth in net interest margins in 2022, but net income still fell, and the industry "continues to face significant downside risks" from inflation and other factors, Martin Gruenberg says.

Acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said that the agency will continue to consider its rising assessment rates even as deposits fell in the second quarter

The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules make it impossible to confirm any details.

The potential amendments could expand coverage but also add new record-keeping and systems requirements for large banks handling custodial accounts.

Financial institutions said they needed more time to weigh in on issues such as how they use artificial intelligence for fraud prevention and underwriting.