Acting Comptroller of the Currency Michael J. Hsu prioritized "restoring public trust in the federal banking system" after the liquidity crisis, consequent market disruptions and bank failures early in the calendar year.
News & Insights
The OCC Acting Deputy for the Office of Financial Technology Donna Murphy testified on the agency's "analysis and evaluation of financial technology innovations, trends, emerging risks, and implications for OCC’s supervised banks."
Acting Comptroller of the Currency Michael J. Hsu called for a “responsible” approach to innovation in tokenization and artificial intelligence that progresses in “tightly controlled stages” to manage identified risks.
The FDIC entered into a purchase and assumption agreement with Flagstar Bank, N.A. to sell most deposits and certain loan portfolios of Signature Bridge Bank, N.A.
In an address to the 2023 Institute of International Bankers Annual Washington Conference, Acting Comptroller of the Currency Michael J. Hsu highlighted parallels between jurisdictional and "supervisability" risk in global banking and in crypto.