Today will receive testimony from the honorable randall orosz, Federal Reserve vice chairman for supervision. The honorable eleanor mcwilliams chairman of the ftse and the honorable rodney hood chairman of the ncua. Welcome to all of you. This hearing provides committee an opportunity to examine the current state of and recent activities related to regulatory and supervisory activities of these agencies. Its been over a year now since the enactment of s 2155 Economic Growth regulatory relief and Consumer Protection act and the work of the agencies to implement most of the laws provision. Your agency should also carefully review the existing supervisory frameworks and make necessary adjustments to appropriately align them with the tailoring rules and requirements. On july 30, 2019 all Republican Banking Committee members and i sent a letter to the federal banking regulators urging your agencies to finalize several outstanding positions of s 2155 such as the Community Bank leverage ratio
Stability. I want to inform all concerned that this meeting will end at 1 00 per the request of the p. M. Secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchen. Today, we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As i have said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following the deregulatory blueprint that the Treasury Department, under secretary mnuchens leadership, has mapped out point by point and rolling back many of the Critical Reforms democrats made to prevent another financial crisis. If these rollbacks continue, there will be grave consequences for Financial Stability in our economy. The 2008 financial crisis was devastating for our nation. 11 million americans lost their hom
Mnuchin testifies about the u. S. Economy. He also talks about Digital Currency and the potential impact of Climate Change. Waters the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations deregulatory approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 00 per the request of the p. M. Secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchin. Today, we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As i have said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following the deregulatory blueprint that the Treasury Depar
Languishing in storage. An president xi jinping confirms china supports carrie lam in hong kong, but says the protests create the grimmest and most complicated challenge. Paul all right. We have the market open here in australia. It is highly likely the asx will make some record highs today. But we have a staggered open here so it is fairly quiet right now. Just modest increases that we are seeing. We are going to keep a close eye on westpac, now facing its 4th investigation into these Money Laundering allegations just filed by the banking regulator today, announcing it will be investing getting whether law. Ac broke the we have new zealand higher by almost. 5 . Was packed new zealand shares still in a trading halt. U. K. Futures looking flat right now, a similar story for u. S. Futures. But that may well change during the course of the day, especially after we saw some very positive gains on the u. S. Equity markets tradeinspired during yesterdays trade. We will keep you uptodate as t
Its. Next, testimony from financial regulators on oversight and other issues including Digital Currency, banking liquidity rules and the impact Climate Change could have on the financial industry. Held by the Senate Banking committee this is an hour and 40 minutes. [inaudible background conversations] this meeting will come to order. Today will receive testimony from the honorable randall orosz, Federal Reserve vice chairman for supervision. The honorable eleanor mcwilliams chairman of the ftse and the honorable rodney hood chairman of the ncua. Welcome to all of you. This hearing provides committee an opportunity to examine the current state of and recent activities related to regulatory and supervisory activities of these agencies. Its been over a year now since the enactment of s 2155 Economic Growth regulatory relief and Consumer Protection act and the work of the agencies to implement most of the laws provision. Your agency should also carefully review the existing supervisory fra