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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-02-10T18:16:00
Banking regulators unveiled new stress test requirements for the largest financial institutions, including a series of hypothetical global market shocks six banks will be required to face.
Stress tests are conducted annually by the Federal Reserve, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC). The regulators consult each other to develop their scenarios in accordance with the requirements of the Dodd-Frank Act.
Of 23 large banks with a global footprint being tested, 11 will be required to conduct additional tests to gauge their response to a global market shock, a counterparty default, and/or exploratory market shock, the Fed announced in its press release Thursday. The results of these tests will not contribute to the capital requirements set by this year’s stress test but instead be used by the Fed to assess a wider array of risks for use in future tests.
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2023-03-13T16:58:00Z By Aaron Nicodemus
The White House, Department of the Treasury, and other federal banking regulators swung into action over the weekend to prevent the failure of two banks with $264 billion in combined deposits from turning into a full-blown economic crisis.
2023-03-10T20:22:00Z By Aaron Nicodemus
In the largest U.S. bank failure since 2008, Silicon Valley Bank was closed and its approximately $175 billion in deposits placed under control of the Federal Deposit Insurance Corporation.
2022-12-28T14:52:00Z By Aaron Nicodemus
Keeping up with increasingly demanding anti-money laundering expectations in 2023 will likely mean doing more with less and figuring out where and when is the best place to use technology to aid compliance, experts say.
2024-07-24T17:54:00Z By Neil Hodge
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
2024-07-15T16:45:00Z By Jeff Dale
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
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