A Bank of England official is calling for more research into non-bank lenders. This effort would help prevent a “credit crunch” that could result from a pull-back by hedge funds, pension funds, asset managers and insurers, Bank of England (BoE) deputy governor Sarah Breeden said Monday (Feb. 26). “A shift in...
Regulators must use their legal authorities to guard against risks posed by the growing role of large technology firms in the financial system, Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), said Monday (Dec. 18). Commenting on the 2023 annual report released Thursday (Dec. 14) by the Financial Stability...
The Financial Stability Oversight Council (FSOC) has, for the first time, identified the use of artificial intelligence (AI) in financial services as a vulnerability in the financial system. That is one of the potential emerging threats to U.S. financial stability identified by the FSOC in its 2023 annual...
American regulators approved new guidelines for monitoring financial risk following this year’s banking crisis. The U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) on Friday (Nov. 3) announced it had approved a new analytic framework for financial stability risks and updated guidance for non-bank financial company determinations process. “Financial...
May 10, 2024
The Financial Stability Oversight Committee (FSOC) is encouraging state and federal regulators and Congress to do more to enhance the resilience of nonbank mortgage companies (NMCs). The agency did so in a report released Friday (May 10) that also identifies risks in this sector, the FSOC said in a press release outlining the report. “We need further action to promote safe […]
February 26, 2024
A Bank of England official is calling for more research into non-bank lenders. This effort would help prevent a “credit crunch” that could result from a pull-back by hedge funds, pension funds, asset managers...
December 18, 2023
Regulators must use their legal authorities to guard against risks posed by the growing role of large technology firms in the financial system, Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB),...
December 15, 2023
The Financial Stability Oversight Council (FSOC) has, for the first time, identified the use of artificial intelligence (AI) in financial services as a vulnerability in the financial system. That is one of...
