Often a harbinger of recessions, the fact that short-term yields are higher than long-term is not inherently bad, Federal Reserve Gov. Chris Waller said Tuesday, noting that in this case it could prove that market expectations are anchored.

The new rules also expand the use of "proven protections," such as multifactor authentication, according to Adrienne Harris, superintendent of the New York State Department of Financial Services.

Michael Hsu is voicing concerns about the increasing disintermediation of accountability for banking services as more banks collaborate with nonbank entities. In an interview, he also addresses industry concerns about the Basel endgame proposal and notes banks' growing interest in tokenizing real-world assets.

As banks increasingly explore the applications of generative artificial intelligence, regulators are deliberating about the systemic risks that the technology may pose because of their unpredictability, the potential for herd behavior, replication of human biases and AI's inability to predict extreme scenarios.

Rep. Andy Barr, R-Ky., said that international cooperation in the Basel III endgame proposal is latest iteration of an opaque standard-setting process.

A.E.A. Federal Credit Union in Yuma said it would acquire West Valley National Bank in a bid to expand into Phoenix and Las Vegas.