Contracts are risk-management tools, especially as millions of dollars in liability—and the bank’s reputation and customer relationships—can be at stake.
Browsing: Third-party risk
Economic uncertainty and rising borrowing costs have increased risk in both the residential and commercial real estate sectors, which could increase risks to U.S. financial stability, the Financial Stability Oversight Council warned in its annual report.
Banks remain well capitalized and with ample liquidity and sound credit quality, “although macroeconomic headwinds are a concern,” according to the Office of the Comptroller of the Currency’s Semiannual Risk Perspective report for fall 2022 issued today.
‘One of the hardest parts of this rule is trying to understand where the balance is.’
Vendors are becoming a bigger focus for banks in multiple areas.
The networking infrastructure found in many banks is not built to handle remote workforces, multiple video meetings or online banking.
Banks are considering core platform changes as they face increasing technology-driven risks
Without collaboration between compliance teams and investment professionals, banking teams waste precious time that may result in missing opportunities.
An interagency final rule is designed to improve the sharing of information about cyber incidents that may impact the nation’s banking system and requires banks to notify their primary federal regulator.
The outgoing FDIC chairman discusses bank innovation, FDITech, post-COVID exams and the agency’s COVID response in part one of this interview.