Risk

In hindsight, Sam Bankman-Fried's April interview with Bloomberg's "Odd Lots" podcast was a harbinger of his epic collapse last week. He described a "box" that has value only because other people put money in it, and, when confronted with the idea that he described a Ponzi scheme, admitted there was a "depressing amount of validity" to that.

U.S. Treasury Secretary Janet Yellen said the implosion of Sam Bankman-Fried's FTX crypto empire reinforced her view that the market for digital assets required "very careful regulation."

Wall Street is walking into a new era of risk that has bankers, lawyers and climate campaigners reaching for a different playbook.

Thieves have increasingly used solid explosive to blow open cash machines rather than gas.

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.

The European Central Bank is intensifying discussions with bank executives over their readiness for a potential surge in company defaults and a drying up of energy market liquidity amid a worsening standoff over Russian gas supplies.

Financial downturns hit lower-wealth communities first and cause them to suffer the longest.

Lenders are extending credit to corporate suppliers, helping them get paid earlier and keeping goods flowing. But the growth in the sector carries certain risks, too.

Major foreign banks are just as important to the U.S. financial system as large domestic banks, and ought to be regulated as such.

The Ohio bank, which has been releasing more information about its Scope 3 emissions, promised to take steps with customers and suppliers to reduce their collective impact on climate change.