The American Bankers Association filed comments today urging the federal banking agencies and the Financial Crimes Enforcement Network to provide additional guidance on how the 2011 “Supervisory Guidance on Model Risk Management,” or MRMG, works in conjunction with Bank Secrecy Act/anti-money laundering and Office of Foreign Assets Control compliance.
New standards for vendors may ease banks’ due diligence responsibilities.
Nicole Kitowski started her career at Associated Bank as a teller in high school. Nearly three decades later, she brings that experience on the front lines to her role as Associated’s chief risk officer.
With projected economic growth expected to create a positive environment for bank performance in the remainder of 2021 and 2022, according to the OCC’s newly released Semiannual Risk Perspective, newly appointed Acting Comptroller Michael Hsu today said “it’s critical that bankers and their regulators guard against complacency.”
The FDIC today said that the banking industry remained resilient entering 2021, despite the extraordinary challenges of the pandemic. In its annual risk review publication, the agency said that the banking sector in 2020 was helped by strong capital and liquidity levels and “was a source of stability to the economy.”
The American Bankers Association yesterday panned two proposals by the National Credit Union Administration to simplify current risk-based capital requirements for “complex” insured credit unions with more than $500 million in assets.
An increase in lawsuits and other factors mean a larger focus on accessibility of bank digital assets.
The Basel Committee today published two papers on climate-related risk that will serve as a “conceptual foundation” as the committee works to incorporate climate risk into the Basel regulatory framework.
The federal banking agencies and the Financial Crimes Enforcement Network today issued a statement on the use of the “Supervisory Guidance on Model Risk Management” to comply with Bank Secrecy Act/anti-money laundering rules.
The Basel Committee on Banking Supervision today issued a pair of guidance documents to help banks manage operational resilience and risk.