Wells Fargo & Co. must keep a lid on its growth until the bank has hardened its risk management policies to prevent any further abuse of its customers, said Jerome Powell, chairman of the Federal Reserve. In February, the Fed …
Bankers, executives and investors are warning Federal Reserve officials behind closed doors that record leveraged lending to companies from lightly-regulated corners of Wall Street could make any economic downturn harder to manage. With the second-longest U.S. expansion in its advanced …
Minneapolis Federal Reserve President Neel Kashkari unveiled a plan on Wednesday to prevent future government bailouts by forcing the largest U.S. banks to hold so much capital that they would probably decide to break themselves up. Kashkari’s plan would also …
A printer error first tipped off Bangladesh’s central bank to one of the biggest cyber heists in recent history, according to a complaint filed to police that provided new details on the attempted theft of nearly $1 billion. Zubair Bin …
Investigators suspect unknown hackers managed to install malware in the Bangladesh central bank’s computer systems and watched, probably for weeks, how to go about withdrawing money from its U.S. account, two bank officials briefed on the matter said on Friday. …
The German government’s panel of economic advisers said on Wednesday the European Central Bank’s low interest rates were creating substantial risks, and Finance Minister Wolfgang Schaeuble warned of a “moral hazard” from loose monetary policy. The double-barreled message came after …
Low interest rates together with highly liquid and stable financial markets have prompted European insurers to tap the capital markets in their efforts to lower the cost of capital and optimize levels of risk-adjusted capitalization, according to a new report …
When the U.S. House of Representatives approved a terrorism insurance bill last week, it contained a little-noticed provision that would require at least one member of the Federal Reserve’s board to have community banking experience. That provision appears destined to …
The Federal Reserve released a list of 15 firms that merit an extra layer of supervision because they pose heightened systemic risks, including JPMorgan Chase & Co. and Bank of America Corp. The tally published on the Fed’s website today …
Insurance companies will urge U.S. lawmakers today to stop the Federal Reserve from imposing bank- like capital standards on their industry. A provision of the 2010 Dodd-Frank Act that overhauled U.S. financial regulation requires the Fed to set minimum capital …
