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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-06-29T17:58:00
The chair of the Federal Reserve shared Thursday three observations he had regarding global banking turmoil that originated in the United States earlier this year.
Jerome Powell, in a speech delivered to European bankers and regulators in Spain, said the failures of Silicon Valley Bank, Signature Bank, and First Republic Bank—as well as the folding of Credit Suisse into its bigger Swiss competitor UBS—suggest banking regulators should “strengthen our supervision and regulation of institutions of the size of SVB.”
The Fed previously indicated a desire to make changes to supervisory requirements for banks with more than $100 billion in assets, following the release of a report in April that examined the agency’s shortcomings in detecting and escalating risks that led to the industry turmoil.
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News and analysis for the well-informed compliance or audit exec.
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2023-09-11T16:35:00Z By Kyle Brasseur
Loss of confidence following the March collapses of Silicon Valley Bank and Signature Bank was the primary reason First Republic Bank failed in May, according to an internal review conducted by the Federal Deposit Insurance Corporation.
2023-08-30T14:37:00Z By Kyle Brasseur
Federal banking regulators jointly issued new rule proposals and proposed guidance in continuing the push to shore up the U.S. regulatory system after a series of mid-sized bank failures earlier this year exposed apparent gaps.
2023-07-27T20:03:00Z By Kyle Brasseur
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency proposed rulemaking designed to increase capital requirements for large banks and large-scale traders.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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