Cadwalader Logo Cabinet News & Views - Informed analysis for the financial services industry
Subscribe
Past, Present and Future
May 11, 2023

Just as we were putting the finishing touches on today's issue, the FDIC voted in favor of a special assessment to recoup the expected $15.8 billion cost to the Deposit Insurance Fund in the aftermath of the Silicon Valley Bank and Signature Bank failures in March. We offer a first take on this vote today and will be looking at this more closely in the weeks to come. 

This week's issue also looks at an important report from the Federal Reserve Board in the U.S. and some important guidance from the Prudential Regulatory Authority in London, along with some very noteworthy enforcement news from the CFTC. 

Are you also looking past the past and, like the FRB and the PRA, focused on what's coming next? I'd love to hear. You can reach out to me here.

Daniel Meade 
Partner and Editor, Cabinet News and Views

Profile photo of contributor Daniel Meade
Partner | Financial Regulation

The Federal Deposit Insurance Corporation Board voted (3-2) to propose a special assessment to recoup the expected $15.8 billion cost to the Deposit Insurance Fund in the wake of invocation of the special risk exception to cover all deposits at Silicon Valley Bank and Signature Bank in March. The Notice of Proposed Rulemaking will be subject to comment for 60 days from publication in the Federal Register.

Read More »

Profile photo of contributor Peter Y. Malyshev
Partner | Financial Regulation
Profile photo of contributor Lary Stromfeld
Partner | Financial Regulation
Profile photo of contributor Ivan Loncar
Partner | Financial Services

Two settled enforcement actions in April 2023 indicate that the Commodity Futures Trading Commission is expecting increased swaps disclosure by swap dealers under the Dodd-Frank Act of 2010 and applicable CFTC regulations.

Read More »

Profile photo of contributor Daniel Meade
Partner | Financial Regulation

Earlier this week, the Federal Reserve Board issued its latest semi-annual Financial Stability Report. As it has in past iterations, the Report notes that the FRB’s monitoring framework “distinguishes between shocks to, and vulnerabilities of, the financial system,” and “focuses primarily on assessing vulnerabilities, with an emphasis on four broad categories and how those categories might interact to amplify stress in the financial system.”

Read More »

The UK’s Prudential Regulation Authority has published its Business Plan for 2023/23 setting out its strategic priorities and anticipating its new, secondary objective to facilitate international competitiveness and economic growth which is currently being considered in Parliament in the Financial Services and Markets Bill.

Read More »

Mercedes Kelley Tunstall
Co-Editor, Partner
T. +1 202 862 2266
mercedes.tunstall@cwt.com

Alix Prentice
Co-Editor, Partner
T. +44 0 20 7170 8710
alix.prentice@cwt.com

Maurine R. Bartlett
Senior Counsel
T. +1 212 504 6218
maurine.bartlett@cwt.com

Sukhvir Basran
Partner
T. +44 0 20 7170 8620
sukhvir.basran@cwt.com

Brian Foster
Partner
T. +1 212 504 6736
brian.foster@cwt.com

James Frazier
Partner
T. +1 212 504 6963
james.frazier@cwt.com

Mark Howe
Partner
T. +1 202 862 2236
mark.howe@cwt.com

Gregg Jubin
Partner
T. +1 202 862 2485
gregg.jubin@cwt.com

Philip S. Khinda
Partner
T. +1 202 862 2262
philip.khinda@cwt.com

Andrew Karp
Partner
T. +1 212 504 6962
andrew.karp@cwt.com

Ivan Loncar
Partner
T. +1 212 504 6339
ivan.loncar@cwt.com

Peter Y. Malyshev
Partner
T. +1 202 862 2474
philip.khinda@cwt.com

Jed Miller
Partner
T. +1 212 504 6821
jed.miller@cwt.com

Michael Newell
Partner
T. +44 0 20 7170 8540
michael.newell@cwt.com

Richard M. Schetman
Senior Counsel
T. +1 212 504 6906
richard.schetman@cwt.com

Lary Stromfeld
Partner
T. +1 212 504 6291
lary.stromfeld@cwt.com

Jonathan M. Wainwright
Senior Counsel
T. +1 212 504 6122
jonathan.wainwright@cwt.com

© 2024 | Notices | Manage Subscription | Contacts