December 10, 2024
The US financial system continued to face vulnerabilities from commercial real estate risk and digital assets in 2024, Treasury Secretary Janet Yellen said on Friday, even as cooling inflation and low unemployment bolstered the broader economy. She signaled top US …
December 15, 2023
Rapid adoption of artificial intelligence (AI) could create new risks for the U.S. financial system if the technology is not properly supervised, a panel of regulators warned on Thursday. The Financial Stability Oversight Council, which comprises top financial regulators and …
August 1, 2023
Treasury Secretary Janet Yellen said the weather-related havoc playing out across the US is exposing a “protection gap” for Americans seeking insurance against property losses. Yellen, who also chairs the Financial Stability Oversight Council, said that a spate of extreme …
April 1, 2022
The Executive Committee of the National Association of Insurance Commissioners (NAIC) has appointed Beth Dwyer, superintendent of Banking and Insurance for Rhode Island, to serve as NAIC’s representative on the Financial Stability Oversight Council (FSOC). Dwyer will succeed recently retired …
December 21, 2021
Climate change, the rapid growth of “stablecoins” and financial innovations that led to frenzied trading of GameStop Corp shares early this year are threats to the U.S. financial system that merit closer scrutiny, a Treasury Department-led regulatory panel said on …
October 22, 2021
Climate change is an “emerging threat” to U.S. financial stability that regulators should address in their everyday work, a top U.S. regulatory panel said on Thursday, a first for the United States which has lagged other wealthy countries on tackling …
March 25, 2021
Treasury Secretary Janet Yellen said on Wednesday it is important to “look carefully” at systemic risks posed by asset managers, including BlackRock Inc., but said designating them as systematically important financial institutions may not be the right approach. Yellen’s remarks …
August 23, 2019
Two U.S. lawmakers have called on a top financial regulatory panel to consider direct oversight of the cloud services big tech companies provide to banks, saying they have become a critical component of the global financial system. In a letter …
October 18, 2018
The Trump Administration has rescinded the systemically risky – or “too big to fail” – designation for Prudential Financial that placed the financial services giant under extra regulatory scrutiny. The designation of Prudential as a systemically important financial institution (SIFI) …
January 19, 2018
The U.S. government and MetLife Inc. announced on Thursday they would jointly seek to dismiss an appeal over whether the insurance company should face stricter oversight as a key part of the financial system. MetLife and the Financial Stability Oversight …