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  • The Clearing House Welcomes Study by Oliver Wyman Showing Increased Stability of the U.S. Banking System

    The study by Oliver Wyman entitled Post-Crisis Changes in the Stability of the U.S. Banking System, which was commissioned by The Clearing House,  shows substantial gains in financial stability in the U.S. banking sector since 2008, with banks having significantly more equity, more resilience to withstand stressful events, and higher quality portfolios. The study notes that recent improvements in stability that are partly attributable to the actions taken by banks, particularly larger banks, to reduce the riskiness of the assets on their balance sheets have also contributed to the greater stability of the financial system by reducing the risk of insolvency.

  • Paul Saltzman to Leave The Clearing House

    The Clearing House (TCH) announced that following a transition period, Paul Saltzman, President of The Clearing House Association and Executive Vice President and General Counsel of The Clearing House Payments Company, will be departing The Clearing House to explore other opportunities.

  • TCH President Paul Saltzman Calls for a “Dual Mandate” Approach to Financial Regulation that Balances Financial Stability and Economic Growth

    Paul Saltzman, President of The Clearing House Association, addressed the Exchequer Club in Washington, D.C. where he discussed the need for greater regulatory focus on achieving a banking system that is not only safe and stable but also resilient.  In his remarks, he called for policymakers to embrace a “dual mandate” approach to bank regulatory policy that simultaneously pursues and balances financial stability with economic growth and prosperity for consumers. He also discusses the great strides the banking system has made since the crisis in enhancing its safety and soundness and how this new “dual mandate” approach would apply in practice to forthcoming U.S. rulemakings, particularly the G-SIB surcharge, TLAC, and the NSFR. 

  • TCH Strongly Supports Regulatory Capital Rules Proposal

    The Clearing House Association filed a comment letter with U.S. bank regulators on proposed revisions to the U.S. Basel III capital rules for banks with consolidated total assets of at least $250 billion and consolidated on balance sheet foreign assets of at least $10 billion, expressing its strong support for the proposed revisions.

  • TCH Recommends Liquidity Monitoring Report Proposals be Revised to be More Consistent with the Liquidity Coverage Ratio

    The Clearing House Association, in coordination with ABA, FSR, and IIB, filed a letter with the Federal Reserve on its proposed revisions to two important supervisory liquidity reports, the Complex Institution Liquidity Monitoring Report (FR 2052a) and the Liquidity Monitoring Report (FR 2052b). In the letter, the associations suggest a number of recommendations that would more closely conform these liquidity reports with the requirements of the Liquidity Coverage Ratio (LCR) and international standards.

  • Industry Supports Total Loss Absorbency Requirement to Help Ensure G-SIBs Can Be Resolved in an Orderly Manner without Taxpayer Assistance

    Today, The Clearing House Association (TCH), in coordination with ABA, FSR, and SIFMA, filed a letter with the Financial Stability Board in response to its proposal to impose a total loss absorbing capacity (TLAC) requirement on global systemically important banking groups (G-SIBs). The letter expresses the industry’s strong support for a TLAC requirement for G-SIBs to help ensure that these institutions can be resolved in an orderly way at creditor rather than taxpayer expense, bringing us one final step closer to ending “Too Big to Fail.”

  • Supreme Court Ends Merchant Legal Battle to Increase Price Caps Windfall

    Today, a coalition of financial services industry associations welcomed the U.S. Supreme Court decision not to disturb the court of appeals decision in NACS v. Board of Governors of the Federal Reserve System. The court of appeals previously rejected the retailers’ efforts to increase further the $6 billion annual windfall they secured with the promulgation of the Fed’s interchange price cap rule pursuant to the Durbin Amendment. 

  • TCH Provides Recommendations to Basel Committee on its Updated Bank Corporate Governance Principles

    Late last Friday, The Clearing House Association (TCH) filed a comment letter with the Basel Committee on Banking Supervision in response to its “Corporate Governance Principles for Banks” consultative document, which the Basel Committee published for public comment in October 2014.  In the letter, TCH recommends certain changes designed to better delineate the board of directors’ responsibility for oversight of the business of a bank as distinct from management’s responsibility for the day-to-day operations, clarify the nature of director fiduciary duties, and reinforce the importance of giving each banking organization sufficient flexibility to tailor its governance practices to its business and risk profile.

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