Stephanie Stoughton

Washington, D.C.

Editor, Financial and Government Policy Analysis, Bloomberg Intelligence at Bloomberg News

Follow-the-money scribe, FOIA friendly. Opinions are my own.

Articles

Fed Reveals Stress-Test Revamp for Banks, Barr Objects (2)

6 days ago | news.bloombergtax.com | Stephanie Stoughton

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Fed Reveals Stress-Test Revamp for Banks, Barr Objects (2)

6 days ago | news.bloomberglaw.com | Stephanie Stoughton

The US Federal Reserve launched a potential overhaul of stress tests for big banks that would average the results over two years and give extra time to adjust to new capital requirements. The Fed said Thursday that it intends to delay the effective date of the annual stress-capital buffer requirement from Oct. 1 to Jan. 1 of the next year. Its proposal will also make “targeted changes” to streamline stress test-related data collection, the central bank said in a statement.
Fed Reveals Stress-Test Revamp for Banks, Barr Objects (1)

6 days ago | news.bloomberglaw.com | Stephanie Stoughton

The US Federal Reserve launched a potential overhaul of stress tests for big banks that would average the results over two years and give extra time to adjust to new capital requirements. The Fed said Thursday that it intends to delay the effective date of the annual stress-capital buffer requirement from Oct. 1 to Jan. 1 of the next year. Its proposal will also make “targeted changes” to streamline stress test-related data collection, the central bank said in a statement.
Fed Reveals Stress-Test Revamp for Banks, Barr Objects

6 days ago | bloomberg.com | Stephanie Stoughton

The Marriner S. Eccles Federal Reserve building in Washington, D.C., US, on Wednesday, July 6, 2022. The Federal Reserve will unveil details of what policy makers debated last month that may shed light on how they view the near-term path for interest rates amid surging inflation and signs of a slowing economy.
Fed, FDIC Plan to Withdraw Community Reinvestment Act Final Rule

3 weeks ago | news.bloomberglaw.com | Stephanie Stoughton

The Federal Reserve and two other banking regulators announced plans to withdraw the Community Reinvestment Act rule from 2023 due to pending litigation. The Fed, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency intend to reinstate the CRA framework from before that final rule, they said in a statement Friday. “The agencies will continue to work together to promote a consistent regulatory approach on their implementation of the CRA,” they wrote.
Fed, FDIC Plan to Withdraw Community Reinvestment Act Final Rule

3 weeks ago | bloomberg.com | Stephanie Stoughton

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Fed Lowers Goldman’s Stress Capital Buffer Requirement to 6.2%

Aug 28, 2024 | news.bloombergtax.com | Stephanie Stoughton

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Fed Lowers Goldman’s Stress Capital Buffer Requirement to 6.2%

Aug 28, 2024 | bloomberg.com | Stephanie Stoughton

The Federal Reserve has slightly lowered Goldman Sachs Group Inc.’s stress capital buffer requirement after the Wall Street bank asked for modifications. As a result, Goldman’s requirement has been adjusted to 6.2% from a preliminary 6.4% after the bank provided additional information, the Fed in a statement Wednesday. The results of the annual stress test inform the amount of capital that banks have to hold as part of the stress capital buffer.
BNY to Pay $5M Over Swaps Reporting

Aug 26, 2024 | thinkadvisor.com | Stephanie Stoughton |Katie Rass

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BNY to Pay $5 Million to Settle CFTC Case Over Swaps Reporting

Aug 26, 2024 | bloomberg.com | Stephanie Stoughton

Bank of New York Mellon Corp. will pay a $5 million penalty after a US regulator said that it failed to properly report millions of swaps transactions and supervise a unit that deals the derivatives. The US Commodity Futures Trading Commission on Monday said BNY repeatedly failed to “correctly report millions of swap transactions to a registered swap data repository.” The CFTC also said BNY violated a prior order the regulator had against the firm.