The U.S. House Financial Services Subcommittee on National Security, International Development and Monetary Policy considered legislative proposals aimed at addressing fraud and cybersecurity vulnerabilities.
In a newly published consultative document, the Bank for International Settlements Basel Committee on Banking Supervision proposed several "limited adjustments" to the credit valuation adjustment risk framework.
Federal Reserve Bank of New York President William C. Dudley argued that "aggressive action" is needed across the financial industry to address market-wide issues concerning the global market transition away from LIBOR.
In its 2018 Semiannual Risk Perspective, the Office of the Comptroller of the Currency reiterated several key risks facing the federal banking system and expressed concern over the impact of rising interest rates.
The Secretary of the Treasury extended the compliance dates for regulations implementing qualified financial contract recordkeeping requirements for certain non-bank financial companies that may pose systemic risk.
Senators questioned whether the Consumer Financial Protection Bureau investigation into the Equifax data breach has been halted. The letter comes in response to a recent report suggesting Acting Director Mulvaney relaxed the investigation.