Ex-Banco Master Chief Bribed Regulators, Accessed FBI Data: Report
Banco Master SA’s former chief executive Daniel Vorcaro was returned to custody for a second time in roughly three months as a widening probe into the collapsed lender added allegations of threats, intimidation, and illegal access to sensitive law-enforcement data.
OCC Proposes First Stablecoin Rules Under the GENIUS Act
The OCC proposed a regulatory framework to implement the GENIUS Act, outlining requirements for stablecoin issuers and for certain stablecoin-related custody activities.
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.
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.
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.
Fed to Drop Some Supervisory Warnings in Oversight Revamp
The Federal Reserve has told banks it plans to review and potentially drop some outstanding confidential supervisory warnings, as Vice Chair Michelle Bowman pushes to refocus oversight on near-term threats to lenders’ financial condition.
Brazil Justice Freezes Nelson Tanure’s Assets in Banco Master Investigation
Brazil’s Supreme Court has ordered the assets of veteran entrepreneur Nelson Tanure to be frozen as part of an investigation into failed lender Banco Master SA, according to a January 6th decision seen by Bloomberg.
Brazil’s Central Bank Toughens Capital Requirements for Fintech Firms
Brazil’s central bank is changing how capital requirements are calculated for financial institutions following a recent spate of probes into organized crime groups exploiting the services offered at Fintech firms, Bloomberg reported.
FSB Warns Market Rally Raises Specter of Sudden Crash
The world’s top financial watchdog warned that a sharp run-up in global asset prices has left markets vulnerable to the potential for a crash given current economic and geopolitical uncertainties.
FDIC Moves to Limit Bank Examiner Warnings to ‘Material’ Risks
The Federal Deposit Insurance Corp. (FDIC) proposed tightening how bank examiners issue warnings and penalties, aiming to keep supervision focused on safety and soundness, according to report by Bloomberg.