GAO Presses FDIC, OCC for Blockchain, Third-Party Risk Standards
The GAO today issued its annual reports to the FDIC and OCC, stating that the agencies had failed to implement two of last year’s priority recommendations on the coordination of blockchain policy and policy clarifying how banks must handle third-party relationship’s use of alternative underwriting data.
SF Fed: Less Bank Lending, Fewer Jobs
A new study from the San Francisco Fed looks at why banks curtailed lending in 2023, attributing about half of this to re-evaluating their ability to take on risk without analyzing why this internal decision might have been made.
Gruenberg Faces Fight of His FDIC Life
The key policy question aroused by the independent counsel’s blistering report today on the FDIC is whether Chair Gruenberg can survive it and, if not, what happens next to an FDIC board likely to be tied on key questions such as finalizing all the capital standards and the agency’s particularly stringent merger policy (see FSM Report MERGER15).