Browsing: OCC

Newsbytes OCC: Trading revenue declines in fourth quarter

Commercial banks reported total trading revenue of $9.6 billion in the fourth quarter of 2022, down 24.5% from the previous quarter and up 33.9% compared with the year before, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities released on Friday.

Newsbytes OCC establishes Office of Financial Technology

The Office of the Comptroller of the Currency this week announced the creation of the Office of Financial Technology and the selection of Prashant Bhardwaj to lead the office as deputy comptroller and chief financial technology officer, effective April 10.

Newsbytes Hsu sees need for international crypto regulation

The collapse of cryptocurrency exchange FTX happened in an international regulatory vacuum that allowed the firm to hide fraudulent activity and operate with a “stunning” lack of basic risk management controls, Acting Comptroller of the Currency Michael Hsu said this week.

Economy Report: Credit quality improved in SNC program in 2022

Credit quality improved in 2022 in the Shared National Credit portfolio, although the results do not fully reflect increasing interest rates and softening economic conditions that began to affect borrowers in the second half of last year, federal agencies said this week.

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