Smaller banks could face tougher global regulations in the wake of last month’s banking crisis. That’s according to a report Monday (April 17) by the Financial Times, citing comments from policymakers at the IMF meetings in Washington, D.C. The report notes that The Basel Committee...
A top world financial watchdog wants financial regulators to learn from the recent banking crisis. In a letter Wednesday (April 12) to the finance ministers and central banks of the G20 nations, Klaas Knot, chair of the Financial Stability Board, said the recent turmoil in...
Executives at Signature Bank sold more than $100 million shares after trying to woo cryptocurrency clients. That’s according to analysis of the failed bank’s filings published Tuesday (April 4) by The Wall Street Journal (WSJ). The report says sales in the last three years by...
Officials from The People’s Bank of China are reportedly calling for stricter financial regulations. Writing in China Finance, a publication of the central bank, a trio of officials said China should speed up passage of its Financial Stability Law and improve other regulations to prevent...
Big banks are reportedly largely overseen by Fed officials in Washington rather than in regional offices. While regional Fed offices supervise banks with assets under $100 billion, the Federal Reserve Board of Governors in Washington watches the banks with assets higher than that threshold, CNBC...
Wells Fargo has been fined $97.8 million for sanctions-related violations from 2010 to 2015. The bank reached settlements of $67.8 million with the Federal Reserve Board and $30 million with the Treasury Department’s Office of Foreign Asset Control (OFAC), the two regulators said in separate...
The White House plans to call for tougher regulation of midsize banks. The recommendations for congressional action could be announced within days and would follow the recent collapses of Silicon Valley Bank and Signature Bank, The Wall Street Journal (WSJ) reported Wednesday (March 29), citing...
House lawmakers showed that their teeth can just bite as tough as their Senate counterparts during the second day of congressional hearings about how Silicon Valley Bank (SVB) and Signature Bank collapsed practically overnight on March 10 and March 12. Where questions remain for lawmakers,...
Possible future banking regulations came to light during a Senate committee hearing. The proposals were mentioned by Federal Reserve Vice Chair for Supervision Michael Barr and Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg during a Tuesday (March 28) hearing of the Senate Banking Committee that...
