The Pandemic Relief Bill and the Battle Over Federal Reserve Emergency Lending Authority

Negotiations over the just-released $900 billion COVID-19 relief bill got bogged down over the weekend due to the seemingly arcane matter of Federal Reserve emergency lending authority. For the millions of Americans who are in desperate need of financial assistance, this delay was unnecessary and needlessly cruel. Nor were frenzied negotiations around pandemic relief legislation […]

Policy Options for Preventing an Eviction Crisis

There have been several federal and state eviction moratoria since the onset of the COVID-19 pandemic in March. The current binding eviction moratorium is the CDC’s, which was implemented on September 1, 2020 and expires on December 31, 2020. This moratorium was implemented as a public health measure to prevent the spread of COVID-19.  Tenants […]

Recent Announcements Reveal Financial Regulators are Serious about Climate Change

Several major announcements over the past two weeks indicate U.S. financial regulators are finally starting to take climate change seriously. The timing is no coincidence. The election of Joe Biden as our next president freed financial regulators from facing the wrath of President Trump and his acolytes for simply acknowledging that climate change is real. […]

Climate Risk Disclosures & Practices: Highlighting the Need for a Standardized Regulatory Disclosure Framework to Weather the Impacts of Climate Change on Financial Markets

The following is the executive summary of a new report from the Climate Risk Disclosure Lab that highlights the need for a thorough, robust, and mandatory disclosure framework for climate-related information. The report exposes the failure of U.S. regulators to properly incorporate climate change into their mandates and assesses the threats that the vacuum of […]

The Heat Is On: U.S. Regulators Facing Increasing Pressure to Enhance Climate Disclosures

Hurricane Delta’s landfall in Louisiana last week marked the tenth named storm to hit the United States this year, breaking the record set in 1916. Records, of the ignominious sort, have also been set on the West Coast. California has experienced six of its twenty largest wildfires this year, and on August 16th, Death Valley […]

Pandemic Bailout of the Fossil Fuel Industry Highlights Financial Sector Risks

This post is the latest in our special issue: “Climate Change and Financial Markets – Risk, Regulation, and Innovation.” To learn more about the special issue and the work of the Global Financial Markets Center around climate change and financial markets, please read the special issue’s introduction here. And to review all The FinReg Blog […]

Designing a Prudential Supervisory Framework for Climate Change in the U.S.

This post is the latest in our special issue: “Climate Change and Financial Markets – Risk, Regulation, and Innovation.” To learn more about the special issue and the work of the Global Financial Markets Center around climate change and financial markets, please read the special issue’s introduction here. And to review all The FinReg Blog […]

Comments to the Climate-Related Market Risk Subcommittee under the Market Risk Advisory Committee (MRAC) of the Commodity Futures Trading Commission (CFTC)

Courtesy of Lawrence Baxter, Mercy B. DeMenno,  Lee Reiners, and Joe Smith The following letter was submitted by the Global Financial Markets Center on May 9, 2020, to the Commodity Futures Trading Commission (CFTC) in response to the CFTC’s request for public comment on topics and issues being addressed by the Climate-Related Market Risk Subcommittee […]

Rolling Back Dodd-Frank: One Bite at a Time

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) ushered in the most substantial changes to the U.S. financial system since the Great Depression. The statute was 848 pages long and imposed an estimated 27,278 new restrictions—equal to 74 percent of the restrictions created by all other laws passed during the Obama administration combined! […]