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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-06-12T13:00:00
Federal banking regulators have indicated they will be more assertive in their supervision of mid-sized banks in the aftermath of the collapses of Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank earlier this year.
How will that increased supervision play out in practice? And could other types of financial institutions—like financial technology firms (fintechs)—get caught in the regulatory net?
In the Federal Reserve Board’s analysis of its findings related to the failure of SVB, the agency indicated it will likely bring back heightened supervisory requirements for banks with $100 billion or more in assets.
“It will be a tougher regulatory environment. Scrutiny will be higher,” said Mike Brauneis, a managing director and global financial services industry leader for consulting firm Protiviti. “Risks will be reviewed in more detail. Issues will be escalated more quickly than they would have just a few years ago. There will be less tolerance for missing deadlines.”
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2023-07-20T15:01:00Z By Aaron Nicodemus
Nearly half the respondents to a Compliance Week and Riskonnect survey regarding the recent U.S. banking crisis said they changed or considered changing their third-party risk management procedures as a result of the turmoil.
2023-06-29T17:58:00Z By Aaron Nicodemus
Federal Reserve Chair Jerome Powell shared in a speech three observations he had regarding the failures of Silicon Valley Bank, Signature Bank, and First Republic Bank earlier this year.
2023-06-26T20:02:00Z By Aaron Nicodemus
Michelle Bowman of the Federal Reserve Board of Governors warned in a speech the agency’s response to the banking crisis might end up hurting the mid-sized financial institutions it is supposed to help.
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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