Federal Reserve Board Vice Chair for Supervision Michael S. Barr reported that, going forward, the Federal Reserve plans to focus on supervision over fundamental risk management related to counterparty credit risk practices.
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Federal Reserve Board Vice Chair for Supervision Michael S. Barr argued that good cyber defense is "not sufficient" to address cyberattacks; he emphasized that banks must focus on operational resilience and improved risk management to confront the threat.
In remarks before the U.S. Treasury Market Conference, Federal Reserve Board Vice Chair for Supervision Michael S. Barr identified and responded to challenges facing the Treasury market.
The OCC, the FDIC and the Federal Reserve Board finalized guidance for senior management of large banks on managing exposures to climate-related financial risks.
FDIC Chair Martin J. Gruenberg and Federal Reserve Board Governor Michelle W. Bowman considered community banking reforms and applying lessons learned from recent bank failures.