Today, the House Financial Services Committee, led by Chairman Patrick McHenry (NC-10), is holding a hearing with Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra. Republicans are scrutinizing Director Chopra’s CFPB for its alleged politicized agenda and lack of accountability.
Deputy Governor Sharon Kozicki emphasized the importance of central bank transparency and accountability in a recent address to the Canadian Association for Business Economics. She reviewed the Bank of Canada's exceptional monetary policy measures during the COVID-19 pandemic and analyzed their effectiveness.
The Bank of Russia has decided against conducting trading sessions before 9:50 Moscow time in the MOEX FX, precious metals, and derivatives markets from June 14, 2024, until further notice.
The Bank of Russia has decided to suspend trading in Hong Kong dollars starting June 13. On Thursday, trading sessions in the MOEX FX and precious metals markets, as well as the derivatives market with settlements in foreign currencies other than the US dollar, euro, and Hong Kong dollar, will start at 9:50 Moscow time.
House Financial Services Committee Chairman Patrick McHenry (NC-10) issued a statement today following the White House's announcement of its intent to nominate Christy Goldsmith Romero to succeed Martin Gruenberg as Chair of the Federal Deposit Insurance Corporation (FDIC). This nomination comes amid widespread reports of toxic workplace culture and misconduct at the agency under Gruenberg's leadership.
Good afternoon. It’s always great to be back in Montréal, my hometown. And I could not be more pleased to be here with Joachim Nagel, President of the Deutsche Bundesbank. Thank you for visiting us in Canada.
The Bank today released the 2024 Assessment of the Reserve Bank Information and Transfer System (RITS) against the Principles for Financial Market Infrastructures (PFMI). The assessment concludes that RITS observed all relevant PFMI as of March 31, 2024, except for the principle on governance, which it broadly observed, and the principles on the framework for the comprehensive management of risk and operational risk, which were both partly observed. The assessment concludes that to fully observe all of the PFMI, the program of work established following the Bank’s 2022...
The House Financial Services Committee is holding a hearing today to conduct oversight of the Federal Deposit Insurance Corporation’s (FDIC) leadership and workplace culture. Lawmakers will hear testimony from FDIC Special Review Committee Co-Chairs Michael Hsu and Jonathan McKernan, as well as independent investigators from Cleary Gottlieb. The focus is on examining the failures of FDIC Chair Martin Gruenberg and misconduct within the agency.
Due to the introduction of restrictive measures by the United States against the Moscow Exchange Group, on-exchange trading and settlements of deliverable instruments in US dollars and euros are suspended. However, trading in all other exchange segments and instruments in rubles and other currencies will be conducted as normal. US dollars and euros will still be traded in the over-the-counter market.
WASHINGTON, D.C. – U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered an opening statement at a hearing entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.”
WASHINGTON, D.C. – U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, issued a statement regarding the Consumer Financial Protection Bureau’s (CFPB) new proposal to eliminate medical debt from consumer credit reports.
In May, the value of securities declined in the Russian stock and debt markets, while the ruble strengthened against foreign currencies in the foreign exchange market.
House Financial Services Committee Chairman Patrick McHenry (NC-10) issued a statement today in response to the Consumer Financial Protection Bureau's (CFPB) notice of proposed rulemaking, which aims to exclude medical debt from credit reports.
On June 11, 2024, U.S. Representative Mike Flood (NE-01) led Republicans on the House floor as lawmakers debated H.R. 537, the Forgotten Heroes of the Holocaust Congressional Gold Medal Act. The proposed legislation seeks to posthumously award the Congressional Gold Medal to 60 diplomats in recognition of their efforts to save Jews from the Nazis during the Holocaust.
Recent data indicate that both nominal and real interest rates continued to increase in May. Lending activity remained high, as the tightening of price and non-price conditions did not yet fully affect the credit and deposit market. The annual growth rate of monetary aggregates was still above the values observed from 2017 to 2019.
On June 7, 2024, Bank of Russia Governor Elvira Nabiullina announced the decision to maintain the key rate at 16% per annum. This decision follows a period marked by a pause in the deceleration of current inflation and sustained high economic growth rates.
The Bank of Russia has announced adjustments to the market risk regulation for credit institutions. The primary change involves the exclusion of derivatives hedging bank balance sheet risks, such as interest rate risk, from the market risk assessment. This adjustment aims to alleviate pressure on banks' capital and promote the development of risk hedging practices.
The South African Reserve Bank (SARB) has imposed administrative sanctions on Bank of China Limited, Johannesburg Branch (BOC Jhb) due to its non-compliance with the provisions of the Financial Intelligence Centre Act 38 of 2001 (FIC Act). This decision follows a FIC Act inspection conducted in 2021, which assessed data from the period between 2016 and 2020.