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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-06-26T20:02:00
A member of the Federal Reserve Board of Governors warned the agency’s response to the banking crisis might end up hurting the mid-sized financial institutions it is supposed to help.
The failures of Silicon Valley Bank, Signature Bank, and First Republic Bank this year have banking regulators reevaluating supervisory priorities for mid-sized banks with more than $100 billion in assets, following an internal Fed report that highlighted some of the agency’s supervisory missteps in the buildup to the crisis.
Fed Governor Michelle Bowman argued in a speech delivered Sunday to European bank regulators that requiring regional, mid-sized banks to meet the same capital and liquidity requirements as large banks could reduce competition to the benefit of large banks. She also called the Fed’s report on its failures incomplete and rushed and noted it only included input from Vice Chair for Supervision Michael Barr. She argued an independent third party should be brought in to conduct a more thorough review.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2023-07-27T20:03:00Z By Kyle Brasseur
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency proposed rulemaking designed to increase capital requirements for large banks and large-scale traders.
2023-07-20T15:01:00Z By Aaron Nicodemus
Nearly half the respondents to a Compliance Week and Riskonnect survey regarding the recent U.S. banking crisis said they changed or considered changing their third-party risk management procedures as a result of the turmoil.
2023-07-12T17:58:00Z By Aaron Nicodemus
The Federal Reserve Board will propose increasing capital standards for large banks and holding companies to build up the banking system’s resiliency against unanticipated market shocks.
2024-10-22T14:37:00Z By Aaron Nicodemus
The Department of Justice (DOJ) has proposed a new rule that would regulate the use of Americans’ personal information by foreign companies and foreign persons in six “countries of concern,” prohibiting and restricting the sale of data to thwart the use of data for cyber-enabled activities, espionage, coercion, influence and ...
2024-10-17T17:42:00Z By Adrianne Appel
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence (AI), and new guidance from the New York Department of Financial Services is aimed at helping firms do just that.
2024-10-17T16:22:00Z By Neil Hodge
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
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