Speaking at a virtual industry event today, Federal Reserve Board Governor Lael Brainard highlighted the need to understand risks related to climate change, noting that it is “vitally important to strengthen the U.S. financial system” to meet this challenge.
While financial regulators flagged an increase in leveraged lending prior to the outbreak of COVID-19, a new report from the Government Accountability Office today found that as of September, “they had not found that leveraged lending activities had contributed significantly to widespread financial instability.”
Bank-like activity by nonbanks that poses financial stability risks grew by 11.1% to total $57.1 trillion in 2019, according to the Basel, Switzerland-based Financial Stability Board today—a return to the decade-long trend line of growth after a slower rate of increase in 2018.
The FDIC and Federal Reserve today finalized guidance for the resolution plans submitted by certain foreign banking organizations starting with the 2021 round of “living wills.”
ABA joined three other banking and finance trade groups in a letter to the Federal Reserve in response to recent updates and clarifications to the list of firms supervised by its Large Institution Supervision Coordinating Committee.
The turmoil observed in global financial markets earlier this spring during the COVID-19 pandemic highlighted the need to “strengthen the resilience in the [nonbank financial intermediation] sector,” according to a new report from the Financial Stability Board today.
The vast majority of Americans, 83%, are looking for advice or guidance from their primary retail banks as their financial stress has increased during the pandemic, according to a recent study from J.D. Power.
Homeownership, savings and holding down a job are three keys to financial well-being and moving out of generational poverty, so that’s what Southern Bancorp focuses on in its home Mississippi and Arkansas Delta region, one of the nation’s poorest.
The Basel, Switzerland-based Financial Stability Board on Friday released a “global transition road map” to help financial firms navigate potential shifts away from the London Interbank Offered Rate, which is not guaranteed to be available after 2021.
Banks have been a source of strength during the ongoing pandemic in part because of the regulatory framework put in place after the 2008 financial crisis, Federal Reserve Vice Chairman for Supervision Randal Quarles said today.