Bank Policy Institute

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yesterday to announce the release of the Bureau’s latest rulemaking, known as Section 1033. The rule governs how consumers access their financial data and how that data is protected. The Director made several statements in his remarks that warrant clarification: Director Chopra: “[T]he rule also …</p> <a class="button primary" href="https://bpi.com/correcting-the-record-on-the-cfpbs-open-banking-rule/" aria-label="Read More Correcting the Record on the CFPB’s Open Banking Rule">Read More</a> </div> <div class="slide"> <div class="slide-background" aria-hidden="true"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2024/10/Bloomberg-errata.png"> </div> <a class="slide-title" href="https://bpi.com/an-errata-on-a-recent-bloomberg-editorial-on-srts/">An Errata on a Recent Bloomberg Editorial on SRTs</a> <p class="slide-excerpt">A recent Bloomberg editorial incorrectly draws parallels between current synthetic risk transfers (SRTs) and pre-2008 private label mortgage-backed securities that contributed to the Global Financial Crisis. This response will address the editorial’s key mischaracterizations. Readers interested in learning more about SRTs should read our recent primer. SRTs are well-established in Europe and Canada but were …</p> <a class="button primary" href="https://bpi.com/an-errata-on-a-recent-bloomberg-editorial-on-srts/" aria-label="Read More An Errata on a Recent Bloomberg Editorial on SRTs">Read More</a> </div> <div class="slide"> <div class="slide-background" aria-hidden="true"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2024/07/hands-and-graph_.jpg"> </div> <a class="slide-title" href="https://bpi.com/regional-bank-mergers-would-increase-competition-without-increasing-systemic-risk/">Regional Bank Mergers Would Increase Competition without Increasing Systemic Risk</a> <p class="slide-excerpt">An effective regulatory strategy for bank mergers would allow institutions to achieve the scale necessary to compete nationally. As noted in our prior blog, mergers play a vital role in promoting competition and stability within the banking industry. They often enable banks to achieve economies of scale, reduce funding costs and lower bank risk through …</p> <a class="button primary" href="https://bpi.com/regional-bank-mergers-would-increase-competition-without-increasing-systemic-risk/" aria-label="Read More Regional Bank Mergers Would Increase Competition without Increasing Systemic Risk">Read More</a> </div> </div> <div class="posts-column"> <div class="post-preview"> <div class="post-image" aria-hidden="true"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2024/10/cfpb-building-150x150.jpg"> </div> <a href="https://bpi.com/correcting-the-record-on-the-cfpbs-open-banking-rule/">Correcting the Record on the CFPB’s Open Banking Rule</a> </div> <div class="post-preview"> <div class="post-image" aria-hidden="true"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2024/10/Bloomberg-errata-150x150.png"> </div> <a href="https://bpi.com/an-errata-on-a-recent-bloomberg-editorial-on-srts/">An Errata on a Recent Bloomberg Editorial on SRTs</a> </div> <div class="post-preview"> <div class="post-image" aria-hidden="true"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2024/07/hands-and-graph_-150x150.jpg"> </div> <a href="https://bpi.com/regional-bank-mergers-would-increase-competition-without-increasing-systemic-risk/">Regional Bank Mergers Would Increase Competition without Increasing Systemic Risk</a> </div> </div> <div id="search-cta"> <algolia-search-cta index-prefix="prod_"/> </div> </section> <section class="block-featured-recent-posts" id="block_5f523d5f08b70"> <div class="latest-posts"> <h2>The Latest</h2> <div class="latest-posts-accordian"> <details class="latest-post" open="" > <summary> <div class="latest-post-summary"> <time>November 27, 2024</time> <a href="https://bpi.com/bpi-comments-on-cisas-proposed-security-requirements-for-restricted-transactions/" class="latest-post-title">BPI Comments on CISA’s Proposed Security Requirements for Restricted Transactions</a> </div> </summary> <p class="latest-post-excerpt"> Dear Director Easterly, The Bank Policy Institute[1] and its technology division BITS[2] appreciate the opportunity to comment on the Cybersecurity and Infrastructure Security Agency’s (“CISA”) proposed security requirements as directed by Executive Order 14117, Preventing Access to Americans’ Bulk Sensitive Data and U.S. Government-Related Data by Countries of Concern[3] and the Department of Justice’s accompanying … </p> </details> <details class="latest-post" > <summary> <div class="latest-post-summary"> <time>November 27, 2024</time> <a href="https://bpi.com/bpi-comments-on-doj-bulk-sensitive-data-rulemaking/" class="latest-post-title">BPI Comments on DOJ Bulk-Sensitive Data Rulemaking</a> </div> </summary> <p class="latest-post-excerpt"> Dear Deputy Chief Licata: The Bank Policy Institute[1] and its technology division BITS[2] appreciate the opportunity to comment on the Department of Justice, National Security Division’s Notice of Proposed Rulemaking concerning the Provisions Pertaining to Preventing Access to U.S. Sensitive Personal Data and Government-Related Data by Countries of Concern or Covered Persons[3] As we noted … </p> </details> <details class="latest-post" > <summary> <div class="latest-post-summary"> <time>November 27, 2024</time> <a href="https://bpi.com/when-was-interest-rate-risk-dropped-from-u-s-bank-capital-requirements/" class="latest-post-title">When Was Interest Rate Risk Dropped from U.S. Bank Capital Requirements?</a> </div> </summary> <p class="latest-post-excerpt"> With The Final Rule Implementing Basel I in 1989 Commercial banks and bank holding companies in the United States are subject to risk-based capital requirements. The capital metrics are calculated as the ratio of a measure of the bank’s equity to risk-weighted assets. To calculate risk-weighted assets, each type of asset is multiplied by a … </p> </details> <details class="latest-post" > <summary> <div class="latest-post-summary"> <time>November 26, 2024</time> <a href="https://bpi.com/a-challenge-for-the-next-treasury-secretary-liquidity-in-u-s-fixed-income-markets-and-particularly-the-treasury-market/" class="latest-post-title">A Challenge for the Next Treasury Secretary: Liquidity in U.S. Fixed Income Markets and Particularly the Treasury Market</a> </div> </summary> <p class="latest-post-excerpt"> One of the first challenges facing the new Secretary of the Treasury will be to reinvigorate U.S. fixed income markets, most notably the market for Treasury securities that he will be relying upon to finance the government. Market liquidity is fragile; measures to strengthen it have been pending for years; and only politics has stood … </p> </details> <p style="margin-top:3.3125rem;"><a href="/search/" id="home-recent-activity" class="button text view-more">More Recent Activity<span class="far fa-long-arrow-right"></p> </a> </div> </div> <div class="featured-posts"> <a href="https://bpi.com/fdic-brokered-deposits-proposal-would-raise-costs-for-consumers/" class="featured-post big-post"> <div class="background" aria-hidden="true"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2020/10/iStock-866214648-604x421-c-default.jpg"> </div> <time>November 21, 2024</time> <span class="featured-post-title">FDIC Brokered Deposits Proposal Would Raise Costs for Consumers</span> </a> <a href="https://bpi.com/making-sense-of-the-federal-reserves-report-on-supervisory-developments/" class="featured-post small-post"> <div class="background" aria-hidden="true"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2024/11/fed-290x230-c-default.jpg"> </div> <time>November 19, 2024</time> <span class="featured-post-title">Making Sense of the Federal Reserve’s Report on Supervisory Developments</span> </a> <a href="https://bpi.com/bpi-statement-on-prudential-regulator-hearing/" class="featured-post small-post"> <div class="background" aria-hidden="true"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2020/10/press_conference-290x230-c-default.jpg"> </div> <time>November 20, 2024</time> <span class="featured-post-title">BPI Statement on Prudential Regulator Hearing</span> </a> <a href="/blog/" class="button text view-more">View More Posts<span class="far fa-long-arrow-right"></span> </a> </div> </section> <section class="block-bits-research" id="block_5f523d8b0045b"> <div class="column orange"> <h2 class="section-title">BITS</h2> <p class="section-description"> BITS is the technology policy division of the Bank Policy Institute. BITS provides an executive level forum to discuss and promote current and emerging technology, foster innovation, reduce fraud and improve cybersecurity and risk management practices for the nation’s financial sector. </p> <div class="related-link-buttons"> <a class="button small" href="/bits/" >About Us</a> <a class="button small" href="/bits/bits-members" >Affiliate Members</a> <a class="button small" href="https://bpi.com/multifactor-authentication-opportunities-and-challenges/" >Multifactor Authentication: Opportunities and Challenges</a> <a class="button small" href="https://cyberriskinstitute.org/" target="_blank" >Cyber Risk Institute</a> <a class="button small" href="/sheltered-harbor/" >Sheltered Harbor</a> </div> <h3 class="featured-label">Featured</h3> <div class="featured-posts"> <div class="post-card"> <a class="post-link" href="https://bpi.com/employee-identity-and-access-management-a-bits-primer/"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2022/02/employee_IAM_cover-206x128.jpg" srcset="" alt="Employee IAM cover"> <span class="h5">Employee Identity and Access Management: A BITS Primer</span> </a> </div> <div class="post-card"> <a class="post-link" href="https://bpi.com/cybersecurity-emerging-challenges-and-solutions-for-the-boards-of-financial-services-companies/"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2020/09/Cybersecurity-Survey-206x128.jpg" srcset="" alt="Conference room with cybersecurity lock"> <span class="h5">Cybersecurity: Emerging Challenges and Solutions for the Boards of Financial Services Companies</span> </a> </div> </div> <h3 class="featured-label">Latest</h3> <div class="latest-posts"> <a href="https://bpi.com/bpi-comments-on-cisas-proposed-security-requirements-for-restricted-transactions/" class="late-post"> <time>November 27, 2024</time> <span class="late-post-title">BPI Comments on CISA’s Proposed Security Requirements for Restricted Transactions</span> </a> <a href="https://bpi.com/bpi-comments-on-doj-bulk-sensitive-data-rulemaking/" class="late-post"> <time>November 27, 2024</time> <span class="late-post-title">BPI Comments on DOJ Bulk-Sensitive Data Rulemaking</span> </a> <a href="https://bpi.com/coalition-of-trades-request-extension-on-financial-data-transparency-act-comment-period/" class="late-post"> <time>October 8, 2024</time> <span class="late-post-title">Coalition of Trades Request Extension on Financial Data Transparency Act Comment Period</span> </a> </div> <a class="button text view-more" href="https://bpi.com/department/bits/?bits=true">View More <span class="far fa-long-arrow-right"></span> </a> </div> <div class="column purple"> <h2 class="section-title">RESEARCH</h2> <p class="section-description"> The research department conducts long- and short-term analysis on issues primarily related to bank regulation and supervision with the objective of encouraging welfare-enhancing regulatory change. Our economists conduct academic-level research intended for presentation at conferences and publication in peer-reviewed journals. </p> <div class="related-link-buttons"> <a class="button small" href="/research-team" >About Us</a> <a class="button small" href="https://bpi.com/basel-accord/" >New Report: Basel III Accord U.S. Finalization</a> <a class="button small" href="https://bpi.com/category/newsletters/research-exchange/" >Research Exchange</a> <a class="button small" href="https://bpi.com/press/media-contacts/" >Request Interview</a> </div> <h3 class="featured-label">Featured</h3> <div class="featured-posts"> <div class="post-card"> <a class="post-link" href="https://bpi.com/basel-iii-accord-finalization/"> <img decoding="async" src="https://bpi.com/wp-content/uploads/2023/01/Basel_Series_Building_Cover_image_Part-2-286x162.png" srcset="" alt="Basel building - yellow"> <span class="h5">Basel III Accord U.S. Finalization</span> </a> </div> <div class="post-card"> <a 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