Risk management

Treasury Secretary Janet Yellen said that while the U.S. financial system remains resilient, the current backdrop has created the conditions where risks to its stability could appear.

In a report published Tuesday, the nonprofit Finance Watch estimates that the 60 largest global banks have about $1.35 trillion of credit exposures to fossil fuel assets.

Credit Suisse Group was plunged into fresh market turmoil after Chief Executive Ulrich Koerner's attempts to reassure employees and investors backfired, adding to uncertainty surrounding the bank.

The middle of a housing market downturn is no time to experiment with untested underwriting tools.

On paper, the deal was a no-brainer: a $15 billion debt financing that would net banks hefty fees and kick off a year of mega-acquisitions even as central banks tightened the spigots on their pandemic support. Yet eight months after agreeing to finance the leveraged buyout of Citrix Systems, Wall Street is now staring at a very different picture.

Wall Street banks are poised to realize roughly $600 million of losses after offloading financing commitments for the buyout of Citrix Systems to investors Tuesday, the culmination of months of work to try and mitigate the damage from underwriting pledges made early in the year before a sharp repricing of risk assets.

Consumers and small business could eventually feel the impact of stepped-up regulatory scrutiny of bank-fintech partnerships.

"The SEC may not want to answer to Congress on its climate disclosure rule, but ultimately, the SEC will have to answer to the courts — which should make it nervous," the Senate Banking Committee's Pat Toomey warned the agency's chairman, Gary Gensler.

The appointment creates a "full-fledged office" within the Office of the Comptroller of the Currency devoted to national banks' climate-change exposures, acting Comptroller Michael Hsu says.