Regulators’ proposed changes to interagency guidance on credit risk review systems are “either too broad or overly prescriptive,” and could impose a significant cost burden on smaller institutions, the American Bankers Association warned in a comment letter today.
The Treasury’s Office of Financial Research flagged corporate credit, market, macroeconomic and cyber risk as elevated concerns in its annual financial stability report today.
Amid strong financial performance by banks during the longest U.S. economic expansion on record, the OCC flagged credit, operational and interest rate risks for bankers’ radar screens in its Semiannual Risk Perspective today
In a world where bank CEOs often reach the corner office via serving as chief financial officer or building a career on the lending side, Clayton Legear did things differently.
Following a drop in a year that saw passage of a major regulatory reform law, U.S. financial institutions’ anxiety levels over compliance obligations rebounded in 2019, according to a survey released today by Wolters Kluwer.
As one of the country’s generation of young bank CEOs, and one whose professional background is in risk management and regulatory compliance, Clayton Legear shares his unique outlook in the latest episode of the ABA Banking Journal Podcast.
Five federal banking agencies yesterday issued a joint statement on the use of alternative data in credit underwriting.
Since the Federal Housing Finance Agency launched a credit risk transfer program for GSEs Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $102 billion in credit risk to private investors, amounting to about 3.3% of $3.1 trillion in unpaid principal balance, the FHFA said today. For the first half of 2019, the GSEs transferred about $10.5 billion worth of credit risk. Transfers included debt issuances, insurance and reinsurance transactions, senior-subordinate securitizations and several kinds of lender-collateralized recourse transactions.
The Federal Reserve Board on Friday issued a proposal to extend the deadline for its final rule limiting the amount of credit exposure that foreign banking organizations can have to each other and to other counterparties.
As banks prepare to implement the current expected credit loss accounting standard, the financial regulatory agencies have issued a proposed interagency policy statement on allowances for credit losses and proposed interagency guidance on credit risk review systems.