Taking climate change into account is prudent risk management, Treasury Secretary Janet Yellen said this week during the inaugural meeting of the Climate-related Financial Risk Advisory Committee
Contracts are risk-management tools, especially as millions of dollars in liability—and the bank’s reputation and customer relationships—can be at stake.
Banks benefit from understanding how risks unique to any unit affect others, defining how risks interact and ensuring that no risk program is executed in isolation.
The notice is intended to communicate FHFA’s supervisory expectations for Fannie Mae and Freddie Mac “to establish and implement risk management policies and procedures for monitoring and valuing seller/servicers’ mortgage servicing rights.”
BCBS says the standard provides a “robust and prudent global regulatory framework” for internationally active banks’ cryptoasset exposures.
Keeping up with changing regulations was the top concern for U.S. financial services firms, according to Wolters Kluwer’s annual Regulatory and Risk Management Indicator survey.
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.