Treasury Slams PR Banking AML, Sanction Compliance
Providing an unusually blunt warning, Treasury Undersecretary Brian Nelson yesterday stated that further action is necessary in Puerto Rico to combat illicit finance, tighten supervision, and increase transparency.
BCBS Moves Forward With New Counterparty Risk Guidelines
As anticipated, the Basel Committee this week announced that it approved a consultation on proposed guidelines to strengthen bank counterparty credit risk management, replacing the Committee’s 1999 global guidance that failed to address the now-significant role of NBFIs and their heightened leverage.
HFSC Merger Hearing to Test Agency Proposals
The memo for Wednesday’s merger hearing before HFSC’s Financial Institution Subcommittee indicates that witnesses are senior attorneys from the OCC and FDIC sure to be grilled by Republicans on their agencies’ proposed merger-policy rewrites.