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FDIC praises banks' ability to support economy through pandemic

The Federal Deposit Insurance Corp has praised the banking sector for being able to support small businesses and communities through the first half of 2020

Fed acknowledges climate change threat to financial stability

The US Federal Reserve has acknowledged the threat of climate change, binging it in line with other central banks and global standard-setting bodies.

US faces formidable and complex challenges from Covid-19 pandemic

The US's recovery from the Covid-19 pandemic depends on banks actively lending while being honest about their losses, the Senate Committee on Banking, Housing and Urban Affairs has heard.

Fed announces additional round of bank stress tests in response to Covid-19

The continued uncertainty around the Covid-19 pandemic has prompted the US Federal Reserve Board to announce another round of bank stress tests to see how large banks stand up against two scenarios featuring severe recessions. 

FSOC warns over Fannie Mae and Freddie Mac financial stability threat

The government sponsored enterprises (GSE) Fannie Mae and Freddie Mac could threaten financial stability and may need more capital according to the Financial Stability Oversight Council (FSOC). 

SEC chairman believes SPACS offer healthy competition to IPOs

Special purpose acquisition companies (SPACS) accompanied by adequate disclosures offer healthy competition to traditional initial public offerings (IPOs), said the chairman of the US Securities and Exchange Commission (SEC), Jay Clayton.

Fed extends capital conservation measures for banks

For the fourth quarter of this year, banks with more than $100bn in total assets will be prohibited from making share repurchases, the US Federal Reserve said in a statement.

Money market funds potentially face more rules

New rules for money market funds could be in the works following comments from deputy US Treasury Secretary Justin Muzinich that the reforms dating from the 2007-9 global financial crisis may not go far enough. 

Moody’s says payment holidays cloud bank credit quality assessments

Large volumes of deferrals on debt repayments granted by banks to borrowers is masking the true credit quality of these institutions, Moody’s Investors Service said in a report, warning that it expects delinquencies to increase rapidly as these measures and government support schemes wind down. 

SEC sets up emerging risks detection unit

The US Securities and Exchange Commission (SEC) has put together a new unit called the Event and Emerging Risks Examination Team (EERT) tasked with detecting emerging threats.