After a lengthy “holistic” review and a spring banking crisis, US bank capital requirements finally face overhaul. By Arthur S. Long, Pia Naib, Ja Hyeon Park, and Deric Behar On July 10, 2023, US Federal Reserve Board (FRB) Vice Chair for Supervision Michael Barr delivered a speech that outlined his approach to regulatory reform after … Continue Reading
The Court held that banks do not owe this duty to customers deceived into instructing their banks to transfer money to fraudsters. By Nell Perks and Callum Rodgers On 12 July 2023, the UK Supreme Court handed down its highly anticipated judgment in Philipp v. Barclays Bank UK PLC [2023] UKSC 25, allowing the appeal … Continue Reading
Governor Bowman calls for transparent supervisory expectations and attention to the consequences of regulatory reform on the broader financial system. By Arthur S. Long, Pia Naib, Ja Hyeon Park, and Deric Behar On June 25, 2023, US Federal Reserve Board (FRB) Governor Michelle W. Bowman gave a speech that outlined her views of the best … Continue Reading
Following this spring’s shocks to the banking system, US, UK, and European regulators are considering whether existing regulatory and crisis management measures require reform and enhancement. By David Berman, Nicola Higgs, Markus E. Krüger, Arthur S. Long, Rob Moulton, Axel Schiemann, Pia Naib, Ja Hyeon Park, Deric Behar, and Charlotte Collins The spring of 2023 … Continue Reading
In contrast with the White House’s position, the Vice Chairman denied that loosened Dodd-Frank rules contributed to the recent bank failures. By Arthur S. Long, Pia Naib, and Deric Behar On April 12, 2023, Federal Deposit Insurance Corporation (FDIC) Vice Chairman Travis Hill delivered a speech at the Bipartisan Policy Center, “Recent Bank Failures and … Continue Reading
President Biden is calling for tougher standards and supervision for large regional banks in the wake of recent instability in the US banking sector. By Arthur S. Long, Pia Naib, and Deric Behar On March 30, 2023, the White House issued a Fact Sheet calling on the federal banking agencies, the Federal Reserve Board (FRB), the … Continue Reading
The decisive action will mitigate emerging liquidity and solvency risks, contain pressure on the banking system, and protect depositors. By Arthur S. Long, Pia Naib, and Deric Behar On March 12, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve) took a unanimous emergency step to protect the safety and soundness of the … Continue Reading
The Acting Comptroller of the OCC discussed the limits of large bank manageability and the steps that regulators can take to address the risks posed by size and complexity. Arthur S. Long, Pia Naib, and Deric Behar On January 17, 2023, Acting Comptroller of the US Office of the Comptroller of the Currency (OCC) Michael Hsu … Continue Reading
