The Federal Reserve Bank and the Office of the Comptroller of the Currency fined a bank for failing to monitor firm and client trading activities.
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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.
The New York State Department of Financial Services issued guidance for financial institutions on the "management of material financial and operational risk from climate change."
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.