David Zaring

FDIC Chair: new rules "generally implement the 2017 Basel agreement, while deviating in certain areas in which the international agreement does not work for the U.S. economy" - looks like the idea is stripped down Basel for the big banks, less for the ICBA fdic.gov/news/speeches/…

I talked to American Banker about the decline in enforcement actions against banks. It is okay, but lighter enforcement paired with lighter supervision limits the tools that regulators can use to cajole banks - it is emergency/other lending, and advice. americanbanker.com/news/enforceme…

The Fed's Basel proposal is out - and Basel first appears on p. 12 n. 22. It's cited plenty in the proposal, but the Fed wants this to look like it is based on its domestic legal authorities. /federalreserve.gov/aboutthefed/bo…

I filed a comment on the skinny payments accounts offered by the Fed, wrote a law review article on it, talked to reporters about it (I like it), and now, here I am in podcast form on the same topic. Next might have to be interpretive dance. podcasts.apple.com/us/podcast/thi…

@Marc_Fagel I've always found the SEED guys to be pretty reliable. What's wrong with this report?

The SEC needs a new enforcement director and the job looks like easy money. Since Uyeda and Atkins have served, the agency has initiated 3 enforcement actions. During September, which is enforcement szn for reporting reasons, the SEC issued filed 1. cornerstone.com/wp-content/upl…

UniCredit already has a lot of German clients, and this is the kind of acquisition that the EU is in theory into - takes away a national champion and adds to a pan-European financial supermarket. Natch, I'm giving you the NE Iowa take. communitynewspapergroup.com/news/nation/eu…

I guess it is good to have the NCUA and FDIC chairs on the record that stablecoins aren't eligible for pass-through deposit insurance, but the GENIUS Act would seem to require it as a matter of law, see the section 4 gloss. financialservices.house.gov/uploadedfiles/…

@JillCastilla That would limit it to chartered banks, wouldn’t it? Can’t see the Fed opening the discount window to fintechs. If that would even be legal.

The payments system will only be as accessible as the discount window. We should be able to fund exchange money 24/7 with the ability to draw upon overnight funds that has collateral pledged. Otherwise, liquidity risk elevates with the speed of payments.

I talked to American Banker about the possibilities of discount window reform. americanbanker.com/news/fed-watch…

Bowman got back from Basel last night, and is planning on unveiling the new Basel III Endgame before the end of the month. It's hard to turn away from The Globalized Governance of Finance.

Very glad to be part of a fantastic virtual symposium comparing US and EU financial regulation - I've already talked about my collaboration with Alessio Pacces on climate disclosure, do check out the rest of the contributions. papers.ssrn.com/sol3/papers.cf…

@tphillips Yes dp is one of the claims.

@ZaringDavid Right. By my point was more, it looks like it might be a due process case (like Cook), rather than a take care clause case (like all the others). I think the latter is a take care case.

Removed for drinking problems sure sounds like for cause removal, which members of the NTSB enjoy: "The President may remove a member for inefficiency, neglect of duty, or malfeasance in office." Surprised the White House bothered with an explanation. politico.com/news/2026/03/0…

@tphillips He's promising a suit ... as is another NTSB member who was removed, in that case I think without cause being identified.

@ZaringDavid If that is the case, I smell a due process challenge coming, a la Governor Cook.

I talked to American Banker about how the war will affect banks - in the short term, the effects may cut in different directions. americanbanker.com/news/the-big-r…

@RicZmp Usually not tho you can ask for a PI on the usual standard I think

@ZaringDavid Would the apa claim stay the designation until further proceedings?

Now that DOD has formally designated Anthropic as a supply chain risk, let's talk lawsuits. APA review is available, but no company has yet undone a designation, and in one suit, a Chinese manufacturer failed to show "that it has been deprived of a protected liberty...1/2

Figured that the skinny masters might wait until the Fed finalized its guidance, but if Kraken can get one before that, I guess the applications from nonbanks will come flying in. I assume banks would be able to claim a competitive injury to sue over this. kansascityfed.org/newsroom/2026-…