Daily News Digest

 

November 20, 2018


American Banker 

  • Fitch Ratings says that rollbacks of stress-test comparisons and liquidity coverage ratio requirements could negatively affect banks’ debt ratings for banks between $100 billion and $250 billion in assets.
  • Bankers believe the federal agencies have made significant progress on regulatory reform, but they still view field examiners as having “too much latitude to punish banks for trivial matters.”


The Wall Street Journal
 

  • Randal Quarles, the Fed’s Vice Chairman for Bank Supervision, is expected to be named Chairman of the Financial Stability Board, a global body which oversees financial regulation. He would succeed Mark Carney of Bank of England.
  • More than one million consumers “cut the cord,” cancelling their cable television service in the last quarter –one of the largest seasonal drops on record.
  • A gauge of U.S. homebuilder confidence fell below expectations, a sign of their concerns about rising interest rates and home prices.


The New York Times
 

  • U.S. Rep. Kathleen Rice (D-Long Island) was one of 16 House Democrats to sign a letter opposing House Minority Leader Nancy Pelosi’s bid to become Speaker of the House. The group, which says “it’s time for new leadership,” also includes New Yorkers Brian Higgins, Max Rose, and Anthony Brindisi.


New York Post

  • Governor Cuomo says he would sign a bill, if passed by the Legislature, abolishing the 24-year-old policy of vacancy decontrol. The policy allows landlords to remove apartments from rent regulation once they become vacant, if the rent is $2,733 or higher.
  • New York Fed President John Williams says the central bank is moving ahead with plans for gradual rate hikes next month. 


A Message from NYBA

NYBA submitted a comment letter to the Office of the Comptroller of the Currency yesterday regarding CRA reform. NYBA focused on New York-centric issues, such as the coordination of exams and policies for both national and state-chartered banks. NYBA also emphasized the unfair playing field with credit unions and non-bank players who are not subject to CRA.  Overall, NYBA joined its colleagues in the states in endorsing the comments of the American Bankers Association.




Questions?

Karen Armstrong, Senior Vice President, Communications and Political Action
karmstrong@nyba.com


Duncan McCausland
, Marketing and Communications
dmccausland@nyba.com