Today, the Financial Times published Sheila Bair’s Opinion piece “Congress must act to protect smaller banks from investor nerves. Measures to shield operational business accounts, introduced during Covid, should be triggered urgently.”
While she does not believe that universal coverage for all accounts is the answer, she does advocate for using the Transaction Account Guarantee (or TAG programme). “To promote banking competition and mitigate concentrations of power, we need to help them protect their core business accounts. Congress needs to reinstate TAG.”
We look forward to any comments you might have.
To view the full article:
Sheila Bair is a former chair of the US Federal Deposit Insurance Corporation and a senior fellow and Advisory Board member at the Center for Financial Stability.
Today we release CFS monetary and financial measures for March 2023. CFS Divisia M4, which is the broadest and most important measure of money, fell by 2.4% in March 2023 on a year-over-year basis, following a decrease of 1.3% in February.
For Monetary and Financial Data Release Report:
For more information about the CFS Divisia indices and the data in Excel:
Bloomberg terminal users can access our monetary and financial statistics by any of the four options:
1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’
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