Commentary: Changes will be made to Volcker rule even without Congress | Fed may need to plan more rate hikes, says Boston chief | Fed's Quarles to propose updates for stress tests, liquidity
April 18, 2018
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Risk Management and Insurance
Commentary: Changes will be made to Volcker rule even without Congress
The House bill that aims to change the Volcker rule is not guaranteed to pass, but changes are coming anyway as the Trump administration continues to ease banking regulation, writes Victoria Finkle. The bill gives the Federal Reserve primary authority to oversee the Volcker rule and exempts banks with under $10 billion in assets from the proprietary trading ban.
American Banker online (free content) (4/16) 
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Fed may need to plan more rate hikes, says Boston chief
Fed may need to plan more rate hikes, says Boston chief
(Andrew Caballero-Reynolds/AFP/Getty Images)
Eric Rosengren, president of the Federal Reserve Bank of Boston, says the Fed may need to introduce more rate rises in addition to its current plan for three this year and three more in 2019. Rosengren argues that inflation will heat up faster than anticipated.
MarketWatch (4/13) 
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Fed's Quarles to propose updates for stress tests, liquidity
Fed's Quarles to propose updates for stress tests, liquidity
Quarles (Chip Somodevilla/Getty Images)
Randal Quarles, vice chairman for supervision at the Federal Reserve, was scheduled to go before the House Financial Services Committee Tuesday and the Senate banking committee Thursday to request greater industry input regarding stress tests. Quarles will also suggest alleviating liquidity requirements for large nonglobal banks and allowing more tailored rules.
Reuters (4/17) 
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Cybersecurity
NJ officials say hackers are targeting mortgage funds
The New Jersey Department of Banking and Insurance is warning banks, mortgage lenders and others about hackers who target real estate transactions. The hackers often change wiring instructions to divert mortgage funds from the recipient to themselves.
HousingWire (4/13) 
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Government Regulation
Clarida, Bowman to be nominated to Fed board
President Donald Trump plans to nominate Richard Clarida, a Columbia University professor and a PIMCO adviser, as vice chairman of the Federal Reserve. Trump plans to nominate Kansas Bank Commissioner Michelle Bowman as a Fed governor, complying with a 2014 law that sets aside one seat for a community banker.
CNNMoney (4/16),  U.S. News & World Report/The Associated Press (4/16),  The Wall Street Journal (tiered subscription model) (4/16) 
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Innovation
SunTrust introduces digital mortgage platform
SunTrust Banks is debuting a platform that lets borrowers apply for a mortgage online in half the time necessary for a traditional application, officials say. The SmartGUIDE Mortgage Application also lets consumers chat with a loan officer during the process.
HousingWire (4/16) 
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News from Aon
Cyber and the C-Suite: Breaking down silos to take on the hacker
An increasingly connected world has brought new business opportunities, increased efficiency and consumer convenience. But it has also increased risk. 2017 saw many organizations suffer significant financial damage as a result of cyberattacks. As these attacks affect all areas of operation, cybersecurity is no longer simply an IT issue. How should the C-suite be preparing for cyberthreats? Read more.
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Aon publishes 2018 Risk Maps for political risk, terrorism, political violence
Political violence risks are rising globally because of geopolitical tensions, a weakening of liberal democratic governance and the repercussive effects of chronic conflicts around the globe. For the third successive year, more country risk ratings have increased (17) than decreased (six). Aon's Risk Maps provide comprehensive insights into some of the most challenging risks facing firms operating worldwide, acting as an invaluable barometer for those seeking to understand and respond to the risks they face internationally. How do these findings affect your firm? Learn more.
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