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Category Archives: Congress

Dodd-Frank Act Stress Test (DFAST)

Via FDIC Overview – “Section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) requires state nonmember banks and state savings associations with total consolidated assets of more than $10 billion to conduct annual stress tests. On October 15, 2012, the FDIC published its final annual stress test rule (Part 325), which set out definitions and rules for scope of application, scenarios, reporting, and disclosure. On November 21, 2014, the FDIC published final rules to adjust the timing of the annual stress testing cycle and to clarify the method used to calculate regulatory capital in the stress tests. Beginning in 2016, all covered institutions, as defined in the final rule, with between $10 and $50 billion in assets are required to submit the results of their company-run stress tests to the FDIC by July 31 and publish those results between October 15 and October 31. Covered institutions with $50 billion in assets or more are required to submit the results of their company-run stress tests to the FDIC by April 5 and publish those results between June 15 and July 15. The FDIC will provide the required scenarios to the covered institutions by February 15 of each year. The results of the company-run stress tests provide the FDIC with forward-looking information used in bank supervision and will assist the agency in assessing the company’s risk profile and capital adequacy. The objective of the annual company-run stress test is to ensure that institutions have robust, forward-looking capital planning processes that account for their unique risks, and to help ensure that institutions have sufficient capital to continue operations throughout times of economic and financial stress. These stress test results are also expected to support ongoing improvement in a covered institution’s stress testing practices with respect to its internal assessments of capital adequacy and overall capital planning.”

Congress.gov adds RSS and email alerts for researchers

Via Emily Carr, LC – “…new email alerts and RSS feeds are now available from Congress.gov. For more details, see New Email Alerts and RSS Feeds on Congress.gov: “Building on those email alerts, there is now an additional set of email alerts and the first RSS feeds that you can subscribe to from Congress.gov Most-Viewed Bills (email |Continue Reading

Facebook Response to Chairman John Thune’s letter on Trending Topics

Colin Stretch, Facebook General Counsel – News Release: “Last week we met with Chairman of the U.S. Senate Commerce Committee John Thune to describe our investigation in response to anonymous allegations of political bias in our Trending Topics feature and to discuss the preliminary results of our work. Today, we sent Chairman Thune a followContinue Reading

FY 2017 Financial Services and General Government Bill – Subcommittee Draft

House Committee on Appropriations, H. R. [Report No. 114–] Making appropriations for financial services and general government for the fiscal year ending September 30, 2017, and for other purposes: “Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the following sums are appropriated, outContinue Reading

Defense Divided: Overcoming the Challenges of Overseas Contingency Operations

Stimson Center: “As the wars in Iraq and Afghanistan have drawn down, the Overseas Contingency Operations (OCO) budget, initially intended for “emergency” war funding, has been used increasingly for purposes far afield of its original design. Despite troop withdrawals and recapitalization of the equipment used in the wars, large amounts of defense spending have continued to be assignedContinue Reading

U.S.-EU Data Privacy: From Safe Harbor to Privacy Shield

Via FAS – CRS report, U.S.-EU Data Privacy: From Safe Harbor to Privacy Shield, Martin A. Weiss, Specialist in International Trade and Finance; Kristin Archick; Specialist in European Affairs. May 19, 2016. “Both the United States and the European Union (EU) maintain that they are committed to upholding individual privacy rights and ensuring the protectionContinue Reading

CRS – Federal Reserve: Legislation in the 114th Congress

Federal Reserve: Legislation in the 114th Congress, Marc Labonte, Specialist in Macroeconomic Policy. May 19, 2016. “The Federal Reserve (Fed) is the subject of legislation being considered in the 114th Congress. These bills contain wide-ranging provisions that can be grouped into four broad categories: Changes to Fed governance. Some proposals would change the Fed’s institutionalContinue Reading

CIA allegedly destroyed sole copy of Senate torture report

The Independent: “The CIA inspector general’s office has said it “mistakenly” destroyed its only copy of a comprehensive Senate torture report, despite lawyers for the Justice Department assuring a federal judge that copies of the documents were being preserved. The erasure of the document by the spy agency’s internal watchdog was deemed an “inadvertent” foul-upContinue Reading

CBO Report – H.R. 3713, Sentencing Reform Act of 2015

“H.R. 3713 would amend federal law to change the prison sentences associated with certain offenses. Based on information provided by the Department of Justice (DOJ) and the U.S. Sentencing Commission (USSC), CBO estimates that implementing the legislation would reduce the cost of incarcerating offenders and would lead to a reduction in discretionary costs to DOJContinue Reading

The Second Symposium on Ending Too Big to Fail

“The Minneapolis Fed’s #EndingTBTF initiative will explore various proposals from expert researchers and incorporate input from a wide range of thought leaders, culminating in an actionable plan to end TBTF, which will be released by the end of the year….” Presentations and videos posted by speakers are available here.

CRS – Libya: Transition and U.S. Policy

Libya: Transition and U.S. Policy, Christopher M. Blanchard, Specialist in Middle Eastern Affairs. May 13, 2016. “Libya’s political transition has been disrupted by armed non-state groups and threatened by the indecision and infighting of interim leaders. After an armed uprising ended the 40- plus year rule of Muammar al Qadhafi in late 2011, interim authoritiesContinue Reading

FCW – OPM’s sensitive data on feds still not encrypted

Federal Computer Week, Adam Mazmania, May 13, 2016 – “More than a year after a hack of Office of Personnel Management systems compromised more than 22 million records, the agency has not been able to encrypt all the sensitive data on 4 million federal employees, including Social Security numbers. “There are still elements of OPMContinue Reading