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Media | Title | Article date | Article source |
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William C. Dudley:Look Out America, Here Come the Bond VigilantesBWC chair Bill Dudley says, "if US officials don’t do something about the government’s fiscal problems, the bond market will." |
Wed, Mar 15, 2023 | The Washington Post |
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Warren Coats:Econ 101: SVB and Bank Runs"The original sin of modern banking is financing long-term loans and investments with money (demand and savings deposits)," argues BWC member Warren Coats. He continues: "Money... should be fully separated from credit. Deposits should not finance loans." |
Thu, Mar 16, 2023 | wcoats.blog | |
Ousmène Jacques Mandeng:SVB and Stablecoins—Time to Tighten RegulationThe collapse of Silicon Valley Bank and subsequent jitters at USDC shall serve as a reminder that stablecoin regulation remains far too lax. Circle, the U.S. company and issuer of USDC, a stablecoin denominated in U.S. dollar, is mostly regulated in the U.S. as a money transmitter. This is grossly insufficient for a company with US$40 billion in stablecoins outstanding. Regulation and supervision need to impose sufficient obligations for stablecoin issuers to adopt best industry practices. |
Fri, Mar 17, 2023 | Bretton Woods Committee | |
Hung Tran:Bailouts Create a Moral Hazard Even if They're Justified. Is There Another Way?BWC member Hung Tran argues "a much better approach would have been to protect large depositors up to the value of the closed banks’ high-quality bond portfolios, which are eligible as collateral to borrow from the newly launched Bank Term Funding Program." |
Fri, Mar 17, 2023 | Atlantic Council |
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William R. Rhodes:Who Is to Blame for the New Banking Crisis?BWC vice-chair William Rhodes: "a good deal of it lies with the former Trump administration and those members of Congress who listened to bank lobbyists and decided it would be wise to lighten the regulatory and capital burden on so-called smaller banks." |
Fri, Mar 17, 2023 | Project Syndicate |
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Member Monday:Samson EnzerBWC welcomes our newest member, Samson Enzer, partner at Cahill Gordon & Reindel LLP. A distinguished former federal prosecutor, Samson “Sam” Enzer is the chair of Cahill’s nationally recognized cryptocurrency and blockchain group, and a member of the firm’s renowned white collar, government investigations, and litigation practices. Since launching Cahill’s cryptocurrency team, Sam has been named a national Law360 MVP in fintech and a National Law Journal Trailblazer in cryptocurrency, blockchain, and fintech based on the team’s accomplishments in these fields. |
Mon, Mar 20, 2023 | LinkedIn |
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Afsaneh Beschloss:Barron’s 100 Most Influential Women in US FinanceBWC member Afsaneh Beschloss, founder and CEO of RockCreek was named to Barron’s 100 Most Influential Women in US Finance list for the second year in a row. The list honors leaders in the financial services industry who have made outsized contributions to strengthening the US financial system. |
Tue, Mar 21, 2023 | Barron’s |
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Hung Tran:Central Bankers Must Keep Financial Stability in Mind as They Fight InflationBWC member Hung Tran: "central banks should be more transparent in explaining how they take into consideration the impacts of excessive risk taking as well as banking and financial crises when formulating monetary policies—both during the easing and tightening phases." |
Wed, Mar 22, 2023 | Atlantic Council |
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Warren Coats:Protecting Bank DepositsBWC member Warren Coats: "The cost of the Chicago Plan... is the need for banks to fund their credit operations with equity or long-term debt, rather than with potentially volatile deposits. We should move to the Chicago Plan and fully separate money from credit." |
Thu, Mar 23, 2023 | Warren’s space | |
William C. Dudley:The Fed Can Fight Both Inflation and Bank ContagionBWC chair Bill Dudley says in a piece for Bloomberg Opinion that for the Fed, "what matters is that it do what’s needed on the financial stability side as soon as possible, so that it can safely pursue the right monetary policy at future meetings." |
Thu, Mar 23, 2023 | Bloomberg | Opinion |