Members of the Financial and Banking Information Infrastructure Committee — a group of representatives from 18 federal and state financial regulatory organizations — met on Tuesday in Washington, D.C., to discuss cybersecurity policy issues in the financial sector.
Browsing: Financial stability
The global Financial Stability Board — made up of the U.S. Treasury and its counterparts in other developed countries — published a progress report today on its efforts to reform interest rate benchmarks such as the London Interbank Offer Rate, or Libor.
In its annual report and during its public session yesterday, the Financial Stability Oversight Council trained scrutiny on the potential risks posed by the growing use of new financial products and delivery mechanisms, including marketplace lending and distributed ledger or blockchain technology.
Voluntary financial climate-related reporting was discussed at a recent Washington, D.C., meeting hosted by a task force of the Basel, Switzerland-based Financial Stability Board and attended by ABA staff.
In coordination with international trade associations, earlier this week ABA led a delegation of U.S. banks to a Basel Committee on Banking Supervision meeting on the committee’s “step-in risk” proposal, which the committee intends to address the risk that a bank would provide non-contractual financial support to nonbank financial entities.