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Stress tests show US banking system can cope with severe recession

The latest round of US stress tests shows banks to be in good shape having amassed considerable capital over the years allowing some of them to make bumper pay-outs to shareholders. 

SEC and CFTC collaborate credit swap portfolio margins

The US’s two main markets regulators are to work more closely together on how to better understand and manage portfolio margins in the credit derivatives market.  

SEC adopts rules amending requirements for swap market participants

New rules have been adopted by the US Securities and Exchange Commission (SEC) that amend capital, margin and segregation requirements under Title VII of the Dodd-Frank Act for security-based swap dealers and major participants.

CFTC extends comment period on derivatives clearing consultation

The comment deadline for the proposed rulemaking to amend certain regulations that apply to derivatives clearing organisations is to be extended to September 13 from July 15, the US Commodity Futures Trading Commission (CFTC) said in a statement.

FDIC creating new unit dedicated to large complex banks

The Federal Deposit Insurance Corporation (FDIC) said it wants to centralise the supervision and resolution activities of large complex financial institutions into a new division called the Division of Complex Institution Supervision and Resolution (CISR).

OCC

US regulatory spat over bank charters creating uncertainty for fintech

A dispute between the OCC and state regulators over special purpose bank charters is sowing uncertainty for the US fintech sector

SEC issues guidelines around exchange fees

Stock exchanges have been given guidelines on how they describe and justify their fees for services such as data provision and connectivity, the US Securities and Exchange Commission said.

Former Fed official calls for more capital for G-SIBs criticised by BPI

In a speech on May 21, former Federal Reserve governor Daniel Tarullo criticised many of the current Republican administration’s regulatory reforms and said US Globally Systemically Important Banks (G-SIBs) should hold more capital.

Financial transaction tax bill presented to US lawmakers

A bill designed to levy a tax on financial transactions has been presented to lawmakers by Democrat Senator Bernie Sanders and is supported by Democrat congresswoman Barbara Lee.

US financial infrastructure given clean bill of health by CPMI-IOSCO

The US has fully implemented the principles for financial market infrastructures (PFMI) relating to payment systems (PSs), central security depositories (CSDs) and securities settlement systems (SSSs) said the global bodies, which oversees these standards.