Ebrima Santos Sanneh covers the Treasury, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency for American Banker. He is a native of Providence, R.I. and a 2020 graduate of UCLA. Before joining American Banker he worked as a staffer for Sen. Jack Reed, D-R.I.
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Federal Reserve Vice Chair Michael Barr Monday spoke at length about efforts to enhance banks' liquidity and long-term debt positions after last year's bank failures while saying little about the capital hikes in the embattled interagency Basel III endgame proposal.
May 20 -
The Senate Thursday joined the House in passing a resolution to overturn the SEC's SAB 121 accounting guidance for financial firms holding crypto in custody. President Biden has vowed to veto the measure.
May 16 -
Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.
May 10 -
The Federal Reserve Thursday released a report on its climate scenario analysis pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.
May 9 -
Federal Reserve Governor Lisa D. Cook highlighted concerns over private credit growth, commercial real estate distress and escalating cyber threats in remarks on financial stability at the Brookings Institution Wednesday.
May 8 -
An independent examination of the Federal Deposit Insurance Corp. workplace culture revealed an atmosphere of sexual harassment, discrimination and misconduct at the agency and raised the need for significant reforms.
May 7 -
In a surprise move, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and Federal Housing Finance Agency proposed a long-awaited rule to curb certain incentive-based pay arrangements for bank executives.
May 6 -
The Drug Enforcement Administration's early moves to reschedule cannabis could spur some banks to get interested in the market, but experts say without a legislative fix, the fundamental risks to taking on cannabis clients will remain.
May 6 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25 -
The Federal Deposit Insurance Corp. says it's ready to wind down the global systemically important banks. But until that happens, many in the banking industry are skeptical that regulators have actually developed a workable strategy to end "too big to fail."
April 22