Washington Report 360 | November 11, 2022

Supervision. Competition. Cyber risks. Climate risks.

Key Highlights

Supervision. FRB reports on Survey of Bank Lending Practices, Financial Stability, and Supervision and Regulation.

Competition, FTC Policy Statement on unfair methods of competition (FTC Sec 5 – UDAP)

Cyber risks. NY DFS proposed amendments to 2017 Cybersecurity regulation

Climate risks. White House Fact Sheet on new initiatives announced at COP 27

Financial services regulatory news
SEC	Risk alert on observations related to Regulation NMS Rule 606 disclosures (re: order routing) Enforcement action alleging antifraud and securities registration violations against the creators of a global crypto Ponzi scheme
CFTC	Extension of no-action position for swaps executed as part of a package transaction in certain categories Approved proposed rule on reporting and information requirements for DCOs
FINRA	New Industry Diversity Advisory Committee
FRB	Reports: Senior Loan Officer Opinion Survey on Bank Lending Practices Financial Stability Supervision and Regulation Proposal to publish a periodic list of depository institutions that have access to “master accounts” and payment services NY FRB: Speech on anchoring inflation expectations Blog: Do Exchange Rates Fully Reflect Currency Pressures?
FDIC	FDIC Systemic Resolution Advisory Committee meeting discussing resolution of systemically important financial companies; related CFPB statement
CFPB	Complaint Bulletin on the analysis of crypto-asset related consumer complaints Blog on finalized changes to the nonbank supervision procedural rule
Treasury	Inter-Agency Working Group on Treasury Market Surveillance (IAWG) staff report on treasury market resilience efforts
FTC	Policy Statement on unfair methods of competition (FTC Sec 5 – UDAP)
NY DFS	Proposed amendments to 2017 Cybersecurity regulation
FHFA	2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac
FSB	Policy proposals to address systemic risk in non-bank financial intermediation
BIS	BIS Board extension of term for Jerome H Powell as Chair of the Global Economy Meeting (GEM) and the Economic Consultative Committee (ECC) Working papers: How CBDC design choices impact monetary policy pass-through What drives inflation? Disentangling demand and supply factors Is the Covid-19 pandemic fast-tracking automation in developing countries? Evidence from Colombia
U.N.	Report on Net Zero commitments by businesses, financial institutions, cities, and regions

Financial services policy news
White House	Fact Sheets: Proposed plan to protect federal supply chain from climate-related risks Roadmap for nature-based solutions to fight climate change, Strengthen Communities, and Support Local Economies Tackling the climate crisis at home and abroad New initiatives at COP27 to strengthen U.S. leadership in tackling climate change