Risk management

Only 12% of large and regional banks in the U.S. and Canada are running the scenario analyses that regulators are poised to recommend, according to a new survey. Observers say progress has been faster on the other side of the Atlantic, as European banks and their regulators have moved more quickly to develop a uniform system for quantifying risks.

Treasury Secretary Janet Yellen said it’s too early to contemplate adjusting capital requirements for U.S. banks based on how much risk they face from climate change.

A Citigroup employee says she provided U.S. regulators with information that led to the bank's paying a $400 million fine. Now, she wants the judge to award her a share of the penalty.

The largest bank based in oil-rich Texas is building a framework for gauging the threat that climate change poses to its business and plans to disclose more information on the subject this summer. Meanwhile, its energy loan portfolio shrank 24% year over year.

Derek Flowers, a 24-year company veteran, will replace the retiring Amanda Norton. Flowers' familiarity with the megabank's operations will help as it continues working through regulatory consent orders, CEO Charlie Scharf said.

Financial threats were low on the list of fears chief risk officers at major U.S. banks expect to face in the coming year, according to a recent survey. It’s increased regulation, data management and technology vulnerabilities that keep them up at night.

The largest U.S. banks have made progress in detailing the risks posed by climate change, but it's clear the industry will have to do more. As federal regulators prepare to impose new obligations, banks are pushing back against calls for more aggressive measures such as capital requirements and increased risk weighting for fossil-fuel lending.

The government-sponsored enterprise also unveiled two new tranche slices for investors to purchase.

Wells Fargo Chief Risk Officer Amanda Norton, who joined in 2018 to help turn around the scandal-ravaged lender, is leaving as the cleanup continues. 

Is Bitcoin at a "tipping point" and could it one day be the currency of choice for trade? The future for digital currencies can be bright, but there are still risks involved. In this session join Yan Zhao, President of NYDIG as she explores: (1) the overall discussion of how Bitcoin is experiencing wider adoption in the traditional finance world, and why that is; (2) Recent partnerships in the financial sector and how they've helped evolve the space; and (3) how and why organization are embedding Bitcoin in various financial services products like lending, payroll, banking, and investing.