The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.
The international regulatory group said that despite some benefits from tech firms' incursion, the companies' efforts may present operational and disruption risks.
BMO Harris Bank in Chicago recently became the first financial institution to offer a Mastercard that allows transgender and nonbinary people to use their preferred names. Members of that community often experience disproportionate financial hardship, in part because of employment discrimination.
Facebook’s stablecoin initiative has inspired countless ideas about how to put fintech under the control of federal regulators. Here are the most critical questions.
The market was upended because the largest banks hold more liquid assets in Treasuries than at the Fed, limiting their ability to supply repo funding on short notice, according to a new analysis from the Bank for International Settlements.
Paul Volcker, the former Federal Reserve chairman who broke the back of U.S. inflation in the 1980s and three decades later led President Barack Obama’s bid to rein in the investment risk-taking of commercial banks, has died.
