The Federal Reserve Board solicited feedback on whether to amend regulations on reserve requirements to lower the rate of interest paid on excessive balances maintained at FRB banks by eligible institutions.
In a newly released Report, the New York Attorney General found that many virtual currency exchanges lack necessary policies, procedures and controls to protect retail customers against "theft, fraud and abuse."
An international investment bank agreed to pay a $135 million fine to settle charges brought by the New York Department of Financial Services. The charges relate to improper conduct in the bank's foreign exchange business.
A former head of foreign exchange trading for an international bank was found guilty of conspiracy and wire fraud for his role in manipulating currency markets in order to generate profits for his employer and himself.
The Office of the Comptroller of the Currency issued a Bulletin to remind industry members that the comment period for the proposed rule change to shorten the standard settlement cycle (from T+3 to T+2) for securities sold and purchased by banks ends on October 11, 2017.
The Office of the Comptroller of the Currency reported that the trading revenue of U.S. banks reached $6 billion in the fourth quarter of 2016, an increase of $1.7 billion over revenue in the fourth quarter of 2015.