Federal ReserveNews

Federal Reserve Board invites comment on updates to operational risk-management requirements for certain systemically important financial market utilities (FMUs) supervised…

September 23, 2022

Federal Reserve Board invites comment on updates to operational risk-management requirements for certain systemically important financial market utilities (FMUs) supervised by the Board

For release at 2:00 p.m. EDT

    The Federal Reserve Board on Friday invited comment on updates to operational risk-management requirements for certain systemically important financial market utilities (FMUs) supervised by the Board. FMUs provide essential infrastructure to clear and settle payments and other financial transactions upon which the financial markets and the broader economy rely to function effectively. The proposed updates generally provide more specificity to the existing requirements.

    The broad operational risk, technology, and regulatory landscape in which FMUs operate has evolved significantly since the Board last updated its risk management requirements for FMUs in 2014. New challenges have emerged, such as the global pandemic and cyber events, while new technological advancements may improve resilience. The proposed changes would promote effective risk management in this rapidly evolving risk environment.

    “In light of the rapidly evolving

     » Read More

    Related Articles

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Back to top button
    Close

    Welcome to The Finance Headline

    Adblocker Detected! Please turn off your adblocker extension app to continue reading the articles/finance news. With your support, The Finance Headline is able to provide free resources.