The Basel Committee on Banking Supervision is considering the use of stress tests, heat maps and scenario analysis to gauge the risks from climate change on financial institutions, Kevin Stiroh said today.
By implementing a few changes, banks’ financial crime and compliance teams can become more agile, efficient and effective in a challenging time.
Lawyers now occupy seats on three-quarters of U.S. bank boards, and new evidence suggests their rapid rise is linked to improved risk management and increases in bank valuation.
The Treasury Department issued a pair of advisories today as part of Cybersecurity Awareness Month, to help combat ransomware as attacks increase.
The OCC today released its bank supervision operating plan for fiscal year 2021, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year that started Oct. 1.
Despite the pandemic, financial institutions should not expect a delay in the Dec. 31, 2021, date when publication of the London Interbank Offered Rate can no longer be relied upon, Federal Reserve Bank of New York General Counsel Michael Held said at an investor conference today.
The siloed and slow, often manual, processes of the past are giving way to new efficiencies of automation and cloud-based solutions.
Emerging technology will enable banks to test complicated transactions and locate problems in areas that are time-consuming to monitor manually.
This summer, financial services organizations were split on when they expected the effects of COVID-19 on their organizations to meaningfully lessen.
While it is too early to assess the full effects, COVID-19 will permanently reshape commercial real estate in the U.S.