The Federal Reserve and the FDIC will issue guidance on so-called “living wills” for banks that are considered “Category II” or “Category III” firms under the Fed’s tailored enhanced prudential standards, the agencies said late Friday.
An increasing number of women see financial wellness as a top priority although they remain less likely than men to seek out professional advice, according to a recent survey by the women’s investment platform Ellevest.
A growing number of bank customers say inflation is taking a toll on their finances, including those classified as financially healthy, according to the most recent monthly survey data from research firm J.D. Power.
The American Bankers Association this week offered feedback to the newly formed International Sustainability Standards Board to create global baseline standards in disclosures related to sustainability and climate-related risks.
The Financial Stability Board today issued a progress report on its work to implement its roadmap for addressing climate-related financial risk.
The Financial Stability Board today published a letter from Chairman Klaas Knot warning of global financial system vulnerabilities and providing an update on the group’s work in key areas.
Financial market stresses do not appear to have exacerbated the negative effects on broader economic activity or created substantial pressure on banks.
Top economic and regulatory officials at the Basel, Switzerland Bank for International Settlements emphasized the limits of the financial industry’s ability to reduce climate risk in a new article this week, calling it “unrealistic” to assume that the financial sector could drive the reallocation of resources needed to transition to a global green economy “in the absence of adequate environmental policymaking in the real economy.”
Chair of the Financial Stability Board sent a letter to G20 finance ministers and central bank governors addressing financial stability issues caused by the invasion of Ukraine.
In a letter to FDIC-insured banks, the agency requested that any institution considering engaging in crypto-related activities provide notification to the appropriate FDIC regional director.