The Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation proposed an alternative approach for calculating derivative exposures under regulatory capital rules.
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An investment bank agreed to pay $205 million as part of an agreement with the New York Department of Financial Services to settle claims of "unsafe and unsound" foreign exchange trading practices.
A bank holding company agreed to pay a fine of approximately $110 million to settle charges of failing to supervise foreign exchange traders' communications and activities.
In response to industry feedback, the Global Foreign Exchange Committee will revise the treatment of "last look" trading practices.
The Board of Governors of the Federal Reserve System fined a bank for unsafe and unsound practices in the foreign exchange markets.