07/11/2023 at 10:00AM
On Tuesday, November 7, 2023, at 10:00 a.m. in Room 2128 of the Rayburn House Office Building, the Financial Services Subcommittee on Financial Institutions and Monetary Policy will hold a hearing titled “The Tangled Web of Global Governance: How the Biden Administration is Ceding Authority Over American Financial Regulation.”
Witnesses:
- Thomas Hoenig, Distinguished Senior Fellow, Mercatus Center, George Mason University
- Christina Parajon Skinner, Assistant Professor of Legal Studies & Business Ethics, Wharton School, University of Pennsylvania
- Bryan Bashur, Director of Financial Policy, Americans for Tax Reform
- Renita Marcellin, Advocacy and Legislative Director, Americans for Financial Reform
On July 27, 2023, the Federal Reserve, FDIC, and OCC jointly issued a Notice of Proposed Rulemaking that would implement the so-called Basel III Endgame recommendations of the Basel Committee on Banking Supervision (BCBS). Those federal banking agencies also issued proposed principles for financial institutions’ management of exposures to climate-related financial risks, following recommendations of the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), recommendations of the Financial Stability Oversight Council (FSOC), and an Executive Order by President Biden.