On July 17, 2019, members of the U.S. House Committee on Financial Services considered testimony on the potential impact of Facebook's proposed cryptocurrency on consumers, investors and the global financial system.
In its Annual Economic Report, dated June 23, 2019, the Bank for International Settlements urged regulators to implement policies and regulations that address the emergence of "big tech" in financial markets.
The Federal Reserve Bank of New York analyzed the potential impact of a cyberattack transmitted through a payment system against a (i) single large bank, (ii) group of smaller banks and (iii) common service provider.
An article on the effective date for the Federal Reserve Board, OCC and FDIC joint final rule increasing the major asset prohibition thresholds for the management interlock rule misstated the effective date as October 9, 2019. The correct effective date is October 10, 2019.
The Office of the Comptroller of the Currency, Federal Reserve Board and FDIC joint final rule to increase the major asset prohibition thresholds for management interlock rule was published in the Federal Register.