9/12/2023 0 Comments Project on government oversight![]() Several Council members noted that the U.S. The regulators noted that they continue to monitor conditions in the sector closely. In addition, the Council received an update from the federal banking regulators on developments in the banking sector and their assessment of current conditions. Regulators are taking steps to emphasize risk management and examine exposures to CRE loans at their regulated institutions. While delinquency rates remain low, vacancy rates have been increasing, particularly in the office sector. Exposure to CRE loans at depository institutions has been increasing, with higher levels of concentration at smaller institutions. ![]() The Council also received an update from staff of the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation on potential risks in the commercial real estate (CRE) market. This deadline has been anticipated for some time, and the Council expects firms to be operationally prepared and to communicate with customers and counterparties about the change to avoid market disruptions. The Council also discussed the upcoming June 30, 2023, cessation date for U.S. The Council will continue to facilitate the sharing of information and analysis among regulators regarding financial vulnerabilities as part of its monitoring of system-wide risks. Council members discussed the ability of market participants to manage their interest rate risk and liquidity risk in the current economic environment. Department of the Treasury (Treasury).ĭuring the meeting, the Council received updates from staff of the Board of Governors of the Federal Reserve System (Federal Reserve Board) on financial stability vulnerabilities and on the transition away from LIBOR. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session at the U.S.
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