Davis Polk partner and Financial Institutions head Margaret Tahyar was quoted in IFLR on the 2023 outlook for banking regulation. “It has been a slow start for financial regulatory reform under the Biden Administration, which means that the banking sector has not had to deal with major regulatory changes — at least not yet,” Margaret explained. “The government has had to put out a lot of fires over the past two years, so it made sense for them to spend time elsewhere than on banking regulation. All that is about to change in 2023.”

She predicts that “banking regulation may finally have a full running course as many things are due to come out this year” and added that “banking regulators have a lot on their plate in 2023, with the finalization of the Community Reinvestment Act (CRA), scenario analyses for climate-related risks, as well as long-term debt requirements (or TLAC, which stands for total loss absorbing capacity) for large regional banks.”

“2023: banking’s big year,” IFLR (January 17, 2023) (subscription required)

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