U.S. regulators, including the Federal Reserve, are reconsidering a proposed capital increase for the nation's largest banks. Initially, the proposal mandated a nearly 20% increase in capital reserves. However, following intense lobbying efforts led by JPMorgan Chase's CEO Jamie Dimon, the required increases are now expected to be about half of the original proposal. This reconsideration, reported by WSJ, comes amid broader regulatory adjustments being discussed by Fed Vice Chair for Supervision Michael Barr, who has indicated that regulators are exploring targeted adjustments to existing liquidity rules. The adjustments could potentially impact how much liquidity banks must hold and their reliance on certain types of deposits. This move is part of the ongoing discussions around the “Basel end game” rules.
Michael Barr pumping banks $KRE this week. Easing capital regulations would allow banks to potentially buy more treasuries $BAC $JPM $GS $WFC U.S. bank regulators are reconsidering how much liquidity banks should be required to have on hand following a series of abrupt bank…
#Fed Vice Chair Jefferson “The better reading for April is encouraging…It is too early to tell whether the recent slowdown in the disinflationary process will be long lasting” Via @economics @Jonnelle https://t.co/du8yP4HPaF https://t.co/uK4uA02Pvi
FEDS JEFFERSON SAYS APPROPRIATE TO MOVE TO MORE NORMAL BALANCE SHEET SIZE
FED'S JEFFERSON: IT IS APPROPRIATE TO RETURN TO A MORE NORMAL BALANCE SHEET.
FED'S JEFFERSON: IT IS IMPORTANT NOT TO FOCUS ON JUST ONE DATA POINT.
The Federal Reserve's Jefferson announces that the policy rate is currently above 2.5%, potentially impacting economic growth.
Fed Vice Chair Philip Jefferson on Housing Dynamics https://t.co/NAfEWil0DM "The primary reason for this lag is that market rents adjust more quickly to economic conditions than what landlords charge their existing tenants."
🇺🇸 FED'S JEFFERSON: TOO EARLY TO TELL IF SLOWDOWN IN INFLATION 'LONG LASTING' Full Story → https://t.co/3OVap6bU1K The recent ebbing in some key price increase indicators is encouraging but it is too soon to know whether inflation is back on a sustainable path back to 2%, Fed…
JEFFERSON: MARKET RENTS TAKE A LONG TIME TO PASS THROUGH TO PCE HOUSING SERVICES PRICES || LARGE INCREASE IN MARKET RENTS DURING PANDEMIC MAY KEEP HOUSING SERVICES INFLATION ELEVATED FOR A WHILE
JEFFERSON: LONG-TERM INFLATION EXPECTATIONS SHOW AMERICANS BELIEVE FED WILL MAKE GOOD ON 2% INFLATION GOAL || RESTRICTIVE MONETARY POLICY HAS WEIGHED ON HOUSING MARKET
JEFFERSON: APRIL'S BETTER INFLATION READING IS ENCOURAGING || FED STAFF ESTIMATE CORE PCE PRICES ROSE AT ANNUAL 4.1% IN FIRST FOUR MONTHS OF 2024, WITH 12-MONTH CHANGE AT 2.75%
JEFFERSON: EXPECT CONSUMER SPENDING GROWTH TO SLOW LATER THIS YEAR || TOO EARLY TO TELL IF RECENT SLOWDOWN IN DISINFLATIONARY PROCESS WILL BE LONGLASTING
JEFFERSON: WILL ASSESS INCOMING DATA, EVOLVING OUTLOOK, BALANCE OF RISKS TO SET APPROPRIATE STANCE OF POLICY RATE || U.S. ECONOMY GROWING AT 'SOLID' PACE; LABOR MARKET REMAINS SOLID
FED VICE CHAIR JEFFERSON: POLICY RATE IS IN RESTRICTIVE TERRITORY || WE CONTINUE TO SEE LABOR MARKET COME INTO BETTER BALANCE, AND INFLATION DECLINE, THOUGH NOWHERE NEAR AS QUICKLY AS WOULD HAVE LIKED
FED'S JEFFERSON: FED STAFF ESTIMATE CORE PCE PRICES ROSE AT AN ANNUAL 4.1% IN THE FIRST FOUR MONTHS OF 2024, WITH A 12-MONTH CHANGE AT 2.75%.
Fed official Jefferson emphasizes reliance on economic data to inform policy rate decisions, with focus on balancing risks. #Economy #FederalReserve
FED'S JEFFERSON: LONG-TERM INFLATION EXPECTATIONS SHOW AMERICANS BELIEVE THE FED WILL MAKE GOOD ON THE 2% INFLATION GOAL.
FED'S JEFFERSON: MARKET RENTS TAKE A LONG TIME TO PASS THROUGH TO THE PCE HOUSING SERVICES PRICES.
FED'S JEFFERSON: THE LARGE INCREASE IN MARKET RENTS DURING PANDEMIC MAY KEEP HOUSING SERVICES INFLATION ELEVATED FOR A WHILE.
Rate Hikes Are Taking Effect, Slowly. Fed’s Jefferson Is Looking at Housing. https://t.co/gx4dEi4Vml
FED'S JEFFERSON: I WILL ASSESS INCOMING DATA, EVOLVING OUTLOOK, AND THE BALANCE OF RISKS TO SET THE APPROPRIATE STANCE OF POLICY RATE.
FED'S JEFFERSON: THE US ECONOMY GROWING AT SOLID PACE, THE LABOR MARKET REMAINS SOLID.
🚨Fed Speakers Raining Today $SPY $QQQ $IWM https://t.co/XABENT5RRY
FED'S JEFFERSON: I EXPECT CONSUMER SPENDING GROWTH TO SLOW LATER THIS YEAR.
FED'S JEFFERSON: IT IS TOO EARLY TO TELL IF THE RECENT SLOWDOWN IN THE DISINFLATIONARY PROCESS WILL BE LONGLASTING.
Fed's Barr: Inflation data 'disappointing,' tight policy needs more time https://t.co/DNVOc1dgov https://t.co/fYDdmsFpCu
Waller and Barr speaking now...10 Fed speakers in first two days of the week. Absolutely ridiculous... https://t.co/bV81VlPGCy
FED'S BARR: MOST FUNDS IN PRIVATE CREDIT MARKET ARE NOT FROM HIGHLY LEVERED ENTITIES AND FACE NO RUN RISK.
FED'S BARR: THE FED DOES NOT WANT TO GET ANYWHERE CLOSE TO A BALANCE SHEET SIZE THAT WOULD INTERFERE WITH CONTROLLING THE FEDERAL FUNDS RATE.
Fed Vice Chair Barr Says Regulators Considering Restriction On How Much Banks Can Rely On 'held-to-maturity' Securities Under Liquidity Requirements Regulators Reviewing Regulatory Treatment Of Certain Types Of Deposits, Including Ones Tied To Venture Capital Or Cryptocurrency… https://t.co/2byXkj2u9J
Fed's Barr says regulators considering 'adjustments' to liquidity rules https://t.co/vefhhDTUFK https://t.co/s2ggzYwZ6L
$JPM Chase’s Jamie Dimon and other big-bank CEOs played hardball with the Fed over proposals that the lenders hold more capital. Now, it looks like those tactics are paying off https://t.co/Vg91KOdkmS? | B3E proposal was/is a mess. Bravo Jamie! @WSJ @amacker @federalreserve
FED'S BARR: THE FED IN A GOOD POSITION TO HOLD STEADY AND WATCH THE ECONOMY.
FED'S BARR: I AM VIGILANT TO THE RISKS TO BOTH INFLATION AND EMPLOYMENT MANDATES. THE CURRENT APPROACH IS PRUDENT TO MANAGE BOTH SETS OF RISKS.
🔴 FED'S BARR: THE FED WILL NEED TO ALLOW TIGHT POLICY TO HAVE FURTHER TIME TO CONTINUE TO DO ITS WORK.
🔴 FED'S BARR: Q1 INFLATION WAS DISAPPOINTING, IT DID NOT PROVIDE THE CONFIDENCE NEEDED TO EASE MONETARY POLICY.
FED'S BARR: LARGER BANKS WOULD BE REQUIRED TO HAVE AVAILABLE LIQUIDITY TO COVER UNINSURED DEPOSITS.
FED'S BARR: REGULATORS ARE CONSIDERING REQUIRING LARGER BANKS TO HOLD MINIMUM LEVELS OF RESERVES AND PRE-POSITIONED COLLATERAL AT DISCOUNT WINDOW.
FED'S BARR: REGULATORS ARE EXPLORING TARGETED ADJUSTMENTS TO EXISTING LIQUIDITY RULES.
🐦 Ton of FED SPEAKERS today - ALL Voters Fed Barr (voter) Waller (voter) Jefferson (voter) Bostic (voter)
Today's Fed speakers 07:30: Fed’s Bostic on Bloomberg TV 08:45: Fed’s Bostic Gives Welcome Remarks 09:00: Fed’s Barr Gives Keynote Remarks, Q&A 09:00: Fed’s Waller Gives Welcoming Remarks 10:30: Fed’s Jefferson Speaks on Economic Outlook, Housing 14:00: Fed’s Mester on…
Today is another Fed speaker marathon! 🥳 https://t.co/IylNB6djqJ
Governor Barr will give a speech at the Atlanta Fed event at 8:00am CDT; Governor Waller will open a conference on the US dollar at 8:00am CDT; Vice Chair Jefferson will give his views on the economic outlook and housing prices at 9:30am CDT; and Bostic will make a speech at his…
FED'S BOSTIC: FIRMS TELL ME THAT THE LABOR MARKET IS WEAKER THAN LAST YEAR, BUT NOT SOFT.
FED'S BOSTIC: RISKS ARE REALLY BALANCED RIGHT NOW.
FED'S BOSTIC: THE FED IS OPEN TO ALL POSSIBILITIES ON THE PATH OF THE ECONOMY.
FED'S BOSTIC: OUR NEW STEADY STATE ON INTEREST RATES IS LIKELY TO BE HIGHER THAN WHAT PEOPLE HAVE BEEN USED TO FOR PAST DECADE.
Today's Fed speakers 07:30: Fed’s Bostic on Bloomberg TV 08:45: Fed’s Bostic Gives Welcome Remarks 09:00: Fed’s Barr Gives Keynote Remarks, Q&A 09:00: Fed’s Waller Gives Welcoming Remarks 10:30: Fed’s Jefferson Speaks on Economic Outlook, Housing 14:00: Fed’s Mester on Bloomberg…
FED'S BOSTIC: OUR NEW STEADY STATE ON INTEREST RATES IS LIKELY TO BE HIGHER THAN WHAT PEOPLE HAVE BEEN USED TO FOR PAST DECADE
FED'S BOSTIC: DATA FOR THE FIRST PART OF THE YEAR ON INFLATION HAS BEEN VERY BUMPY.
MONDAY, May 20: Fed Speakers: - 9:00 am ET: Fed Vice Chair for Supervision Michael Barr speaks - 9:00 am ET: Fed Gov Christopher Waller gives welcoming remarks - 10:30 am ET: Fed Vice Chair Philip Jefferson speaks
Econ Calendar Mon 5/20/24 Raphael Bostic Speaks 8:45 AM ET Michael Barr Speaks 9:00 AM ET Christopher Waller Speaks 9:00 AM ET Philip Jefferson Speaks 10:30 AM ET 3-Month Bill Auction 6-Month Bill Auction 11:30 AM ET Raphael Bostic Speaks 7:00 PM ET
Dimon Led Bank CEOs to Fend Off Tougher Capital Rules @amacker @WSJ https://t.co/sYSCjvRFGV
💡Federal Reserve Vice Chair Philip Jefferson is scheduled to discuss "U.S. Economy and Housing Market Dynamics" at the MBA (Mortgage Bankers Association) conference on May 20th at 10:30 AM. During his talk, he will examine current trends in housing prices within the context of… https://t.co/goiBGPiJZ9
This Week's Major U.S. Economic Reports & Fed Speakers: MONDAY, May 20: - 9:00 am ET: Fed Vice Chair for Supervision Michael Barr speaks - 9:00 am ET: Fed Gov Christopher Waller gives welcoming remarks - 10:30 am ET: Fed Vice Chair Philip Jefferson speaks TUESDAY, MAY 21: -…
If true, $JPM might sit at the top here for another few days: US regulators reconsider capital hike for big banks, WSJ reports https://t.co/E4gJxEqAce https://t.co/T4pjUtjDJ5
$JPM | Jamie Dimon's Lobbying Pays Off? Report Says Regulators Contemplate Significant Reduction In Proposed Capital Norms Increase For Big Banks • Regulators are "negotiating substantive and technical revisions" to an increase in capital reserves proposed by Fed Vice Chair… https://t.co/RqFzTDKRUO
🇺🇸 (Reuters) -The Federal Reserve and two other U.S. regulators are moving toward a new plan that would significantly reduce a nearly 20% mandated increase in capital for the country's biggest banks following lobbying efforts by industry CEOs like JPMorgan Chase's Jamie Dimon,… https://t.co/pA0T8lFhkv
The Federal Reserve and two other U.S. regulators are moving toward a new plan that would significantly reduce a nearly 20% mandated increase in capital for the country's biggest banks. https://t.co/I1JONDAWAZ
US regulators reconsider capital hike for big banks, WSJ reports https://t.co/mW6UIvNni4 https://t.co/FHlBC1i0iA
U.S. regulators reconsider capital hike for big banks, WSJ reports https://t.co/6LSK9CdBC7 https://t.co/vvnJAPacqI
⚠️ U.S. REGULATORS RECONSIDER CAPITAL HIKE FOR BIG BANKS, WSJ REPORTS Full Story → https://t.co/CbR0LKOVGu https://t.co/QgWpjSs4wR
Dimon Led Bank CEOs to Fend Off Tougher Capital Rules https://t.co/WXMN1p8r5a
🇺🇸FED SPEAKERS THIS WEEK: *FED CHAIR POWELL (SUN. 3:30PM) *FOMC MEMBER BOSTIC (MON. 8:45AM) *FOMC MEMBER WALLER (MON. 9:00AM) *FOMC MEMBER BARR (MON. 9:00AM) *FED VICE CHAIR JEFFERSON (MON. 10:30AM) *FOMC MEMBER MESTER (MON. 2:00PM) *FOMC MEMBER WALLER (TUES. 9:00AM) *FOMC… https://t.co/YbqGkaOmuG
*Fed to slash proposed big-bank capital-hike requirement: WSJ bullish
How aggressive are banks fighting tough new “Basel end game” rules? Jamie Dimon encouraged fellow big-bank CEOs not to talk to the Fed’s Michael Barr, one of his top regulators and the architect of the rules in question. The hardball tactics appear to be paying off. https://t.co/hxBQNOimjO
The Fed and two other regulators are moving toward a plan that could significantly lessen a proposed capital increase of nearly 20% on the biggest US banks. Required increases in capital would on average be about half as much as originally floated. https://t.co/tEOEOazeJD