Entries for 'Federal Reserve'
July 11, 2022
The July U.S. Regulatory Update covers Fed announcements on climate-related financial risk, cybersecurity, digital assets, strategies against illicit finance, and more.
May 23, 2022
The IIF has made a submission to the U.S. Federal Reserve Board of Governors responding to its discussion paper, Money and Payments: The U.S. Dollar i...
May 19, 2021
Could a Chinese CBDC displace the dollar as the global reserve currency, undermine the U.S. sanctions regime or provide the Chinese government with the ability to increase surveillance on citizens?
October 23, 2020
The IIF Regulatory Affairs Department is pleased to share a comprehensive summary of the key regulatory and policy discussions that took place during the IIF’s 2020 Annual Membership Meeting.
July 10, 2020
On June 30th, the IIF hosted our first ever event dedicated to central banking - Central Banking in the Age of COVID-19. This week's episode of The Big Questions recaps some of the most interesting moments.
April 2, 2020
The April U.S. Regulatory Update covers U.S. regulators’ responses to COVID-19, the CARES Act, the recent FSOC meeting, the Fed’s stress capital buffer and CCAR announcements, and more.
March 26, 2020
The U.S. Federal Reserve and the Federal Government have begun to implement a series of policy measures to address the economic and financial fallout of the COVID-19 pandemic, the two grids in this document break out the recent policy responses.
March 22, 2020
The IIF outlines 5 key policy tools that international economic policymakers should be striving to use, now. No one action can turn the tide against COVID-19, but international coordination will prove crucial to limiting the damage.
February 6, 2020
The February U.S. Regulatory Update covers the Federal Reserve’s new proposed supervisory approach, the revised Volcker Rule covered funds proposal, the 2019 Financial Stability Oversight Council report, and more, along with Congressional updates and hearings summaries.
September 6, 2019
The September U.S. Regulatory Update covers the Fed’s updated stress capital buffer proposal, announcement of a real-time payment system, and September Beige Book, in addition to a preview of Congressional priorities this fall regarding banking, fintech, and anti-money laundering legislation.
June 27, 2019
In our letter we emphasize the importance and contribution of FBOs to the US financial system and we highlight how the scale of the FBO operations has declined significantly since the initial FBO Rules.
June 20, 2019
Disconnect between Fed dots and market rate expectations set to persist; Negative-yielding debt hits a record high of over $12 trillion—putting the risk of asset price bubbles in focus; Further USD strength could pose significant challenges for non-bank borrowers in emerging markets and mature markets outside the U.S.; More monetary stimulus would widen the gap between the cost of equity and debt, triggering another sharp accumulation in corporate debt; Robust growth in Panda bond issuance
May 22, 2019
Our U.S. Regulatory Update covers the Federal Reserve’s proposals on FBO requirements, FSOC’s proposed changes to nonbank designations, the NAIC International Forum, and Capitol Hill updates, among other topics.
May 2, 2019
Steady Fed gives sense of balanced risks: “healthy” U.S. economic trajectory, potential inflation rise towards 2%; Frontier market debt growing quickly — total outstanding $3.2 trillion — sovereign defaults low (for now); Green and sustainability-linked lending nearly doubles in 2018 – now almost $100 billion outstanding; LIBOR transition fraught with risks — linked to contract maturity profiles, spreads to new benchmarks
April 25, 2019
EM assets have enjoyed tailwinds—more dovish Fed/ECB, better growth prospects, attractive valuations… but recent dollar strength and higher oil prices highlight risks ahead; Non-financial corporate EM FX debt up by over $2 trillion since 2009, pushing total EM FX debt to $5.3 trillion; High levels of dollarization reflect declining consumer confidence in Turkey and Argentina
April 4, 2019
Markets reassess chances for a Fed rate cut this year amid more optimism on trade talks, Chinese growth; Policy backdrop feeds into asset valuation in emerging markets; China may be taking a break from deleveraging, but non-financial corporate debt is still over 150% of GDP and at over 50% of GDP, household debt in China is well above the EM average—and growing strongly
March 7, 2019
Declining equity risk premia mirror the Fed’s dovish turn in 2019—but how much further can risk-on run?; Angels falling: more U.S. issuers are at the lower end of investment grade (BBB)—and taking on more debt; More vulnerable: small unrated U.S. non-financial corporates have racked up a hefty $1.13 trillion in debt; To call or not to call: $110 billion in CoCos are redeemable through 2020
February 21, 2019
Return to low volatility has underpinned the risk rally, but a less-dovish Fed could hurt; Term premium compression again—bond markets to the rescue?; MiFID II ushers in a decline in turnover, shift towards cheaper ETFs in the EU; Older Americans shoulder a growing burden of student loan debt
February 14, 2019
Sharp improvement in risk appetite reflects improved valuations as well as more supportive Fed policy; As new U.S. sanctions take hold, holders of Venezuelan bonds contemplate next steps; Wobbles in the leveraged loan market; millennials give a boost to U.S. commercial real estate; ESG index performance—doing good doesn’t mean giving up returns, especially in emerging markets!
February 7, 2019
The January 2019 Insurance Update provides targeted updates on IIF insurance activities and events, and highlights relevant IIF publications or related regulatory developments in other fields.