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Tag: Phillip Basil

Better Markets Releases Report on the Dangers of the Unregulated Shadow Banking Sector

WASHINGTON, D.C.— Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement around today’s release of Better Markets report on the shadow banking sector: “Nonbank financial institutions that make up the largely unregulated shadow banking sector pose serious risks to the U.S. financial system that exacerbate the deterioration of financial stability in […]

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The Federal Reserve’s Disturbing Pattern of Late-Friday Bank Merger Approvals Highlights the Need for More Transparency and Accountability

WASHINGTON, D.C.— Today, Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement on today’s action by the Federal Reserve to approve the acquisition of People’s United Bank by M&T Bank: “Today the Federal Reserve announced yet another late-Friday approval of a bank acquisition, which follows its late-Friday announcements of three bank […]

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Better Markets Applauds Proposed International Standards for Addressing Climate-Related Financial Risks

WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement on the filing of a Better Markets Comment Letter in response to the Basel Committee on Banking Supervision’s Consultative Document “Principles for the effective management and supervision of climate-related financial risks”. “Better Markets applauds the publication of these principles as an important step in […]

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Better Markets Applauds OCC Proposal to Incorporate Climate-Related Risks into Bank Supervision & Assessment

WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement on the filing of Better Markets’ comment letter on the Office of the Comptroller of the Currency (OCC)’s draft principles for climate-related financial risk management for large banks. “Better Markets applauds the OCC’s move to be the first U.S. banking regulatory agency to propose […]

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Fact Check Memo: Critics of Sarah Bloom Raskin for the Federal Reserve Board Distort Her Climate Statements Which Align with Chair Powell, Former Vice Chair Quarles, Wall St’s Banks & Others

FOR IMMEDIATE RELEASE Monday, January 31, 2022 Contact: Evelyn Swan at 202-618-6433 or eswan@bettermarkets.org WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, issued the following statement in connection with the release of a Fact Check Memo detailing critics’ distortion of Sarah Bloom Raskin’s statements regarding climate, which align with Chair Powell, […]

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The Federal Reserve’s Late-Friday Bank Merger Approvals Highlight the Need for More Transparency and Public Accountability

FOR IMMEDIATE RELEASE Monday, December 20, 2021 Contact: Doug Walker at 202-618-6430 or dwalker@bettermarkets.org WASHINGTON, D.C.— Today, Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement on last Friday’s action by the Federal Reserve to approve three bank mergers: “The Federal Reserve’s late-day approval announcements of three bank mergers last Friday—as […]

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In a New Report, Better Markets Calls on Banking Regulators to Act ASAP to Address Material Risks to the Banking System from Climate Change

FOR IMMEDIATE RELEASE Tuesday, November 2, 2021 Contact: Evelyn Swan at 202-618-6433 or eswan@bettermarkets.org WASHINGTON, D.C.— Today, Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement regarding the publication of our new report, Climate Change and the Banking System: “As world governments debate national commitments to address the global climate change […]

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The Agenda for the Next Fed Vice Chair for Supervision: Re-Regulate the Banks

FOR IMMEDIATE RELEASE Friday, October 8, 2021 Contact: Doug Walker at 202-618-6430 or dwalker@bettermarkets.org WASHINGTON, D.C.—Phillip Basil, Better Markets Director of Banking Policy, released the following statement on a new report, The Agenda for the Fed’s Next Vice Chair for Supervision: “When the term of Federal Reserve Vice Chair for Supervision Randal Quarles expires on […]

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