THIS WEEK: FSOC meets; Volcker Rule comments due; NCUA eyes risk-based capital delay; Fed governors speak; more

The coming week will bring developments across a range of agencies, including a deadline for comments on the Volcker Rule, a public airing of views on the coming year’s budget for credit unions’ federal regulator (and action on risk-based capital), a meeting of the Financial Stability Oversight Council (FSOC), speeches by Federal Reserve Board governors, and a special online session among the Fed chairman and students from around the country to discuss careers in economics and at the Fed.

Here are details:

Tuesday

  • The Financial Stability Oversight Council (FSOC) meets (webcast is set to begin at 2:30 p.m.). The closed, or “executive,” session will focus on interpretive guidance on nonbank financial company designations and the annual reevaluation of the designation of a nonbank financial company (which reports say is expected to address Prudential Financial); the open session is slated to address Brexit as well as data collection on centrally cleared repurchase agreements.

Wednesday

  • A public 2019-2020 budget briefing at the National Credit Union Administration (NCUA) begins at 10 a.m. at agency headquarters in Alexandria, Va. The briefing will be streamed live. (The agency is also taking comments from the public until Oct. 26 on the budget.)
  • Comments are due on Volcker Rule changes that would tailor the rule’s requirements for three tiers of firms based on trading activity level. The proposal was issued jointly by the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Commodity Futures Trading Commission, and the Securities and Exchange Commission. Comments were originally due last month, but regulators approved a one-month extension to Oct. 17.
  • Beginning at 12:10 p.m., Federal Reserve Board Gov. Lael Brainard is set to speak on “Fintech and Financial Inclusion” during the Fintech, Financial Inclusion – and the Potential to Transform Financial Services conference sponsored by the Federal Reserve Bank of Boston and the Aspen Institute, Boston, Mass. The speech will be viewable live online here.
  • At 2 p.m., the Fed is scheduled to release minutes of the Federal Open Market Committee (FOMC) meeting held Sept. 25-26 (when it approved a federal funds rate target increase to a range of 2% to 2.25%).

Thursday

  • A one-year delay of risk-based capital requirements for credit unions is slated for action during an open meeting of the NCUA Board that is slated for 10 a.m. A proposal on federal credit union bylaws is also on the agenda. The board is set meet in closed session at 9 a.m. to act on two supervisory enforcement actions and a request related to the agency’s prohibition authority.
  • A speech on the economic outlook by Fed Vice Chairman for Supervision Randal Quarles is set to begin at 12:15 p.m. at the Economic Club of New York Luncheon in New York City. The speech will be aired live online via Facebook.

Friday

  • Fed Chairman Jerome (“Jay”) Powell will host students from Washington, D.C., and nationwide via webcast to discuss career opportunities and diversity in economics and to learn about career paths within the Federal Reserve System. Titled “Exploring Careers in Economics,” this event will be webcast live via the Fed’s website and on YouTube; students will also be able to follow along via the Fed’s Twitter feed and on Facebook. (Get more details here.)

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