Latest articles from Charles Piggott

Largest US banks make second attempt on resolution plans

After 11 of the 12 largest US banks saw their resolution plans rejected by the regulators in 2014, there will be intense scrutiny on a new round of submissions.

OFR paper calls for transparency on bank capital relief trades

The US Office of Financial Research is calling for more detail on efforts by banks to reduce capital requirements through risk transfer trades with third parties.

Community banks sidelined in battle for Dodd-Frank

Richard Shelby

Democrats and Republicans agree that community banks need regulatory relief. But this may have to wait until deals can be struck on more controversial rollbacks.

Richmond Fed: 60% of financial liabilities guaranteed by the government

The Federal Reserve Bank of Richmond has warned that 60% of the liabilities of the US financial system are subject to either explicit or implicit protection from loss by the US government.

Harvard study warns of non-bank mortgage activity spike

Post-crisis bank regulation is driving banks out of the mortgage market, sparking a boom in non-bank mortgage activity, according to recent research.

Warren’s ire turns to Mary Jo White

Mary Jo White

Senator Elizabeth Warren has publicly castigated the Securities and Exchange Commission chair for multiple failings, calling her leadership “extremely disappointing”.

FSOC report lists current risks

The Financial Stability Oversight Council’s annual report has highlighted that potential credit and liquidity risks associated with central counterparties during periods of market stress are minimised.

CFTC chair Massad objects to CFTC reauthorisation terms

Commodity Futures Trading Commission chairman Timothy Massad has criticised proposed legislation that would reauthorise the CFTC for five years, calling provisions unnecessary and unduly restrictive.

Fed U-turn on high quality liquid assets

The Federal Reserve has proposed adding certain state and municipal bonds to the assets that banks can use to meet the liquidity coverage ratio adopted by US bank regulators last September.

Bipartisan support for Bailout Prevention Act


Democrat Senator Elizabeth Warren has joined forces with Republican Senator David Vitter to introduce legislation to limit the Federal Reserve’s emergency lending authority.