Preparing for a possible recession is the top priority for most chief risk officers at large banks, according to a new survey by the Risk Management Association and consulting firm Oliver Wyman.
The Financial Stability Board issued a set of policy proposals aimed at addressing systemic risk in the non-bank financial intermediation sector, which the group said are intended to “reduce liquidity demand spikes; enhance the resilience of supply in stress; and enhance risk monitoring and the preparedness of authorities and market participants.”
Three banks refresh their identities with name changes or unified positioning. Or both.
Banks have managed weather-related events and risks well, but things are changing and regulators and banks of all sizes will need to adapt.
Insights from the 2022 Federal Reserve/CSBS survey of community banks.
In a letter to the Federal Financial Institutions Examination Council earlier this month, ABA and the Bank Policy Institute offered feedback on the FFIEC Cybersecurity Assessment Tool, a voluntary tool developed in 2015 to help financial institutions assess their cyber risk and preparedness.
Change is constant, so risk identification for banks should be an ongoing process.
The financial services sector has done “a good job” so far of building cyber defenses and working with law enforcement and the regulatory community to guard against attacks, but there’s more work to be done, said Acting Comptroller of the Currency Michael J. Hsu today during remarks to financial services groups.
As a former engineer, Jennifer Schmidt brings an understanding of systems and integration to her work as a community bank chief compliance officer.
The Treasury Department today launched the Climate Data and Analytics Hub pilot, a digital tool that will allow financial regulators assess risks to financial stability stemming from climate change.