Fed Plan Would Codify Removal of ‘Reputation Risk’ from Exams
The Federal Reserve on Monday proposed a new rule that would prohibit its examiners penalizing institutions over the “reputation risk” they face from customers—a policy shift that aligns with ongoing litigation brought by President Donald Trump against JPMorgan Chase.
UK Issues Raft of New Sanctions on Anniversary of Russo-Ukrainian War
The UK unveiled its biggest Russia sanctions package in years on Tuesday, targeting Moscow’s shadow fleet and the key networks and infrastructure that have helped keep crude exports flowing since the start of the Russo-Ukrainian war.
Trump Looks to Add Tariffs Beyond the Global 15-Percent Hike
The White House is weighing a new round of national-security tariffs on several industries after a Supreme Court ruling last week struck down many of President Trump’s second-term levies, The Wall Street Journal reported.
DOJ Files Offer New Details on Epstein’s Relationship with BNP Paribas
Jeffrey Epstein held a retail current account and a savings account at BNP Paribas from 2008 until mid-2018, according to documents released by the U.S. Justice Department and reported by Le Monde.
ECB Questions Banks on their AI Risk Exposure
The European Central Bank has stepped up its scrutiny of how exposed euro-area lenders are to the fast-growing artificial intelligence industry, reflecting concerns that banks may be building credit risk in hard-to-track ways and that AI could reshape parts of the financial sector.
Swedbank Faces Fresh Investigation Over AML Controls
Sweden’s Financial Supervisory Authority (FSA) has launched an investigation into whether Swedbank is complying with the country’s anti-money-laundering (AML) rules on customer due diligence.
Lawmakers Question Bowman on Fed Reforms
A group of six Senate Democrats is demanding that the Federal Reserve turn over information about the ongoing overhaul of its bank supervision division following reports of internal tension linked to staff cuts and the alleged sidelining of examiners.
Will It Be War or a Nuke Deal? U.S. and Iran Brace for Both
U.S. and Iranian officials are describing progress in their ongoing nuclear negotiations even as both sides accelerate visible preparations for a conflict that officials and analysts now frame as a genuine near-term risk.
The Mexican Billionaire Who Says He Lost Big to a Lombard-Loan Swindle
Ricardo Salinas Pliego, the Mexican billionaire behind Grupo Elektra, thought he’d done enough due diligence when he decided to invest $400 million in Bitcoin as the value of the cryptocurrency surged in the spring of 2021.
Basel Committee Calls for Close Monitoring of Synthetic Risk Transfers
The Basel Committee on Banking Supervision is warning that a fast-growing market for banks to offload credit risk to private investment funds needs close monitoring because it is creating new vulnerabilities for the global financial system.