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Federal Reserve Vice Chair Bowman Previews Stress Test Reforms and Silicon Valley Bank Review Findings

Federal Reserve Vice Chair Bowman Previews Stress Test Reforms and Silicon Valley Bank Review Findings

Federal Reserve Vice Chair Bowman Previews Stress Test Reforms and Silicon Valley Bank Review Findings
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South Korea Prepares for 2028 FATF Mutual Evaluation, Focusing on AML Effectiveness

South Korea Prepares for 2028 FATF Mutual Evaluation, Focusing on AML Effectiveness

South Korea is actively preparing for its 2028 Financial Action Task Force (FATF) mutual evaluation, with a strong emphasis on demonstrating the effectiveness of its anti-money laundering (AML) and countering the financing of terrorism (CFT) measures. The country has developed a national roadmap outlining five key directions and twelve implementation tasks. These include aligning its AML/CFT/CPF framework with FATF standards, strengthening suspicious transaction information analysis, advancing risk-based AML supervision and enforcement, enhancing the tracing, freezing, confiscation, and recovery of criminal proceeds, and improving responses to terrorist financing and proliferation financing. Key initiatives involve developing a beneficial ownership information framework, introducing AML obligations for Designated Non-Financial Businesses and Professions (DNFBPs), utilizing AI-based Suspicious Transaction Report (STR) analysis, expanding public-private partnerships, and implementing mechanisms for suspendin...
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Gada ElKenani Advocates for Regulatory-First Approach in Distressed Bank Turnarounds, Emphasizing Human Oversight in Technology Adoption

Gada ElKenani Advocates for Regulatory-First Approach in Distressed Bank Turnarounds, Emphasizing Human Oversight in Technology Adoption

Gada ElKenani Advocates for Regulatory-First Approach in Distressed Bank Turnarounds, Emphasizing Human Oversight in Technology Adoption
ReutersReuters
Fed, BoE probe banks' exposure to trading firms after Jane Street loss, FT reports

Fed, BoE probe banks' exposure to trading firms after Jane Street loss, FT reports

Sept 21 (Reuters) - The US and UK central banks have asked global banks about their exposures to large trading firms after turmoil at a hedge fund caused large losses at proprietary trading firm Jane Street in July, the Financial Times reported on Monday.
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Federal Reserve Vice Chair Previews Further Stress Test Reforms Ahead of Finalization

Federal Reserve Vice Chair Previews Further Stress Test Reforms Ahead of Finalization

Federal Reserve Vice Chair Previews Further Stress Test Reforms Ahead of Finalization
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FDIC and OCC Issue Joint Final Rule to Redefine 'Unsafe or Unsound Practice' for Bank Supervision

FDIC and OCC Issue Joint Final Rule to Redefine 'Unsafe or Unsound Practice' for Bank Supervision

FDIC and OCC Issue Joint Final Rule to Redefine 'Unsafe or Unsound Practice' for Bank Supervision
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European Banking Authority Finalizes Third-Party Risk Guidelines, Aligning with Basel Committee Standards

European Banking Authority Finalizes Third-Party Risk Guidelines, Aligning with Basel Committee Standards

European Banking Authority Finalizes Third-Party Risk Guidelines, Aligning with Basel Committee Standards
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Pimco Weighs In on Switzerland’s Bank Capital Debate, Advocating for International Competitiveness

Pimco Weighs In on Switzerland’s Bank Capital Debate, Advocating for International Competitiveness

Pimco Weighs In on Switzerland’s Bank Capital Debate, Advocating for International Competitiveness
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Bank for International Settlements Warns of AI-Driven Financial Instability and Emphasizes Supervisory Judgment

Bank for International Settlements Warns of AI-Driven Financial Instability and Emphasizes Supervisory Judgment

Bank for International Settlements Warns of AI-Driven Financial Instability and Emphasizes Supervisory Judgment
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BIS Research Highlights Dollar Stablecoins' Evasion of Capital Controls in Emerging Markets

BIS Research Highlights Dollar Stablecoins' Evasion of Capital Controls in Emerging Markets

BIS Research Highlights Dollar Stablecoins' Evasion of Capital Controls in Emerging Markets
ReutersReuters
Report finds 'culture of risk aversion' hindered oversight of SVB, Fed official says

Report finds 'culture of risk aversion' hindered oversight of SVB, Fed official says

By Pete Schroeder WASHINGTON, Sept 18 (Reuters) - A "culture of risk aversion" among examiners contributed to the collapse of Silicon Valley Bank rather than relaxed oversight, a top Federal Reserve official said on Friday in remarks flagging the initial findings of a review of the 2023 bank failure
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Federal Banking Agencies Propose Stricter Third-Party Risk Management Framework for Financial Institutions

Federal Banking Agencies Propose Stricter Third-Party Risk Management Framework for Financial Institutions

Federal Banking Agencies Propose Stricter Third-Party Risk Management Framework for Financial Institutions