THIS WEEK: Fed governors talk AI, monetary policy; NCUA Board meets on CAMELS, risk-based capital

Federal Reserve board governors will discuss artificial intelligence, the economy, and the Fed’s monetary policy framework in a variety of forums as the federal regulator of credit unions on Thursday takes up a number of regulatory matters ranging from regulation of credit union service organizations (CUSOs), a CAMELS exam rating system, risk-based capital and more.

Federal Reserve Board Chair Jerome H. (“Jay”) Powell will also participate in a live-streamed discussion hosted by the director of the Princeton University Bendheim Center for Finance.

Tuesday

  • Federal Reserve Board Gov. Lael Brainard gives a speech, “Artificial Intelligence and Financial Service,” at the Virtual Federal Reserve Artificial Intelligence Symposium (linked here). Brainard is scheduled to begin her remarks at 9:35 a.m. ET. (The symposium continues Wednesday.)

Wednesday

  • Brainard delivers a speech, “The Economic Outlook and Full Employment,” virtually at the Mike McCracken Lecture on Full Employment to the Canadian Association for Business Economics (CABE). She is scheduled to speak at 1 p.m.
  • At 2 p.m., the Fed releases its Beige Book report on economic conditions based anecdotal information from the districts.
  • At 3 p.m., Fed Vice Chair Richard Clarida participates in a discussion, “The Federal Reserve’s New Framework: Context and Consequences,” held virtually at the Hoover Institution Monetary Policy Conference: The Road Ahead for Central Banks. Watch live

Thursday

  • The NCUA Board, meeting virtually in open session, meets at 10 a.m. Among the agenda items is a proposed rule on CUSOs; a briefing on the yearly statutory adjustment of civil monetary penalties (action taken yearly by all federal financial regulators); a final rule on corporate credit unions; a proposed rule on the CAMELS rating system (presumably addressing the addition of rate sensitivity – the “S” component); a proposal on risk-based net worth and the “complex” threshold (which affect the agency’s risk-based capital requirements); an advance notice of proposed rulemaking on “simplification” on risk-based capital requirements. Get the link to watch the meeting at www.ncua.gov. (A closed meeting follows.) Get the board’s full Jan 14 agenda here.
  • At 12:30 p.m., Powell speaks during “A Conversation with Federal Reserve Chair Jerome Powell” at a livestream event hosted by Markus Brunnermerier, Director, Princeton University Bendheim Center for Finance. Watch live

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