by Keith Noreika, Bryan Hubbard and Chris Beckmann | Feb 6, 2023 | Patomak Post
What’s Happening Federal Reserve (FRB) denies membership and master account application for state-chartered Custodia Bank with crypto-focused business model FRB presumptively prohibits banks it supervises from holding crypto as principal and certain other...
by Keith Noreika, Bryan Hubbard and Chris Beckmann | Jan 20, 2023 | Patomak Post
Acting Comptroller of the Currency Michael Hsu presents a framework for scrutinizing banks viewed as “too big to manage.” Hsu describes a four-step escalation framework for supervisory issues, with a “credible threat of restrictions and divestitures.” Banks should...
by Keith Noreika, Bryan Hubbard and Chris Beckmann | Jan 9, 2023 | Patomak Post
Federal banking agencies encourage banks to monitor crypto risks, stress importance of keeping crypto sector risks isolated from broader financial system. Regulators view open, public or decentralized networks as highly likely to be inconsistent with safe and sound...
by Keith Noreika, Bryan Hubbard and Chris Beckmann | Jan 3, 2023 | Patomak Post
Rising interest rates are adversely affecting bank investment portfolios, leaving banks with a difficult set of choices. Regulators increasingly are expressing concern with the effect of interest rate risk. Banks must ensure their risk management, strategic, and...
by Keith Noreika, Brian Johnson, Robert Greene and Chris Beckmann | Nov 2, 2022 | Patomak Post
A recent digital asset report (“Report”) issued by the Financial Stability Oversight Council (“FSOC”) criticized many digital asset market activities and market participants for lacking sufficient risk controls or amplifying financial instability. FSOC seems to be...
