Commentary by Steven Lofchie
In a report titled "Options for Deposit Insurance Reform," the FDIC highlighted the limitations of the current deposit insurance system finding that the current system of "Limited Coverage" may be insufficient to prevent bank runs.
The New York State Department of Financial Services identified the factors contributing to Signature Bank’s failure and recommended improvements to its bank supervisory procedures.
In an Information Notice, FINRA advised members that the Options Clearing Corporation issued the latest version of "Characteristics and Risks of Standardized Options" (also known as the "Options Disclosure Document"), which supersedes and replaces the prior document and related supplements.
The CFPB adopted an interim final rule to facilitate the transition from LIBOR and reflect the enactment of the Adjustable Interest Rate (LIBOR) Act and related Federal Reserve Board actions.
SEC Commissioner Hester M. Peirce expressed "grave concerns" about imposing ESG disclosure standards and taxonomies. She asserted they could "commandeer" private capital and could lead to systemic instability.