Week ahead: Fed leaders take to stages, FDIC Board considers Volcker rule re-write proposal

The chairman and vice chairman (for supervision) of the Federal Reserve will be on the podia this week, and the board of the federal insurer of bank deposits will be the first bank regulator to consider changes to the Volcker Rule, in the week ahead.

Fed Board Chair Jerome H. (“Jay”) Powell offers his latest take on monetary policy during a speech Aug. 23 at the annual Jackson Hole Economic Policy Symposium in Jackson Hole, Wyo. The speech has an ominous title: “Challenges for Monetary Policy.” Powell’s remarks are scheduled to begin at 10 a.m. ET.

Preceding Powell’s appearance will be one by Fed Vice Chair for Supervision Randal Quarles, who plans to discuss “community development” Tuesday. Quarles will be speaking at the 10-Year Celebration for the Utah Center for Neighborhood Stabilization in Salt Lake City. Quarles’ remarks are set to begin at 6 p.m. ET.

Also Tuesday, the Federal Deposit Insurance Corp. (FDIC) sits down to consider revisions to the Volcker Rule, which generally prohibits proprietary trading by banks with more than $10 billion in consolidated assets. The FDIC is first among the three federal banking regulators to consider revisions to the rule.

Also on the agenda for the FDIC Board meeting (which starts at 10 a.m. ET): a final real estate appraisal rule (no discussion anticipated) to raise the real estate appraisal threshold for banks (likely to $400,000, in accordance with last year’s regulatory relief legislation, the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA, S. 2155); and\ a notice of proposed rulemaking on interest rate restrictions applicable to less-than-well-capitalized banks.

Federal Reserve Board Calendar/August 2019

FDIC Board Aug. 20 open meeting agenda

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