Washington Report 360 | September 9, 2022

A weekly newsletter covering legislative and regulatory developments affecting financial services firms—in 360 words or less.

Key Highlights

  • Regulatory & Supervisory priorities. FRB outlined near-term goals focused on capital, living wills, bank merger policies, stablecoins, and financial risks of climate change; OCC updated key priorities in safeguarding trust in banking, including digitalization, climate-related risks, and inequality.
  • Capital. Banking agencies (FRB, OCC, FDIC) affirmed commitment to Basel III and expect to issue a proposed rule amending capital rules for large banking organizations.
  • Price cap compliance. Treasury said that it wants financial services companies to help design a compliance regime for the G-7 Russian oil price cap.
  • Crypto assets. Treasury is expected to issue four new reports on crypto markets, covering the payment system, consumer protections, illicit finance and financial stability.
Financial services regulatory news
SEC
CFTC
FINRA
FRB
FDIC
OCC
Interagency
  • FRB, FDIC, and OCC reaffirm commitment to Basel III, expect to issue a proposed rule amending capital rules for large banking organizations
CFPB
Treasury
FTC
HUD
  • Funds availability through grant programs “SHOP” (Self-Help Home Ownership Program) and “HHP” (Healthy Homes Production)
  • Increased frequency of allowable distributions of surplus cash to FHA-insured Multifamily mortgage borrowers
BIS

 

Financial services policy news  
White House
Senate
  • Banking Committee hearing on current issues in insurance

 

Industry news headlines

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Contact us 

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100