OCC (Office of Comptroller of Currency) which supervises national banks and agencies of foreign banks in US released their semi-annual risk report last week. The report presents key issues facing banks that “pose threats to the the safety and soundness of banks and their compliance with applicable laws and regulations”. The report presents an optimistic message – while the risk of downside growth is increasing due to tightening financial conditions and geopolitical uncertainty the banks continue to be financially strong having navigated the pandemic and are well capitalized to face the economic headwinds.
In January this year, the Federal Reserve Bank (FRB) published a working paper which assessed impact on the financial system from a hypothetical cyber attack
In a new July 2019 report titled “Cybersecurity: Linchpin of the digital enterprise”, McKinsey emphasizes that cybersecurity must support the digital agenda of the company. In
OCC Spring 2019 Semiannual Risk Report Background: The Office of the Comptroller of the Currency (OCC) publishes a report (Semiannual Risk Perspective) twice a year
In my last post (Risk Management version 2020?) on evolving nature of Risk Management, I noted that non-financial risks dominate financial risks for financial institutions
Two recent reports on banking industry indicate point to the future of the Risk Management function. The first one was a 2019 report by Boston