Brazil’s Central Bank Toughens Capital Requirements for Fintech Firms
Brazil’s central bank is changing how capital requirements are calculated for financial institutions following a recent spate of probes into organized crime groups exploiting the services offered at Fintech firms, Bloomberg reported.
FSB Warns Market Rally Raises Specter of Sudden Crash
The world’s top financial watchdog warned that a sharp run-up in global asset prices has left markets vulnerable to the potential for a crash given current economic and geopolitical uncertainties.
FDIC Moves to Limit Bank Examiner Warnings to ‘Material’ Risks
The Federal Deposit Insurance Corp. (FDIC) proposed tightening how bank examiners issue warnings and penalties, aiming to keep supervision focused on safety and soundness, according to report by Bloomberg.
KPMG Turned Blind Eye to Regional Bank Flaws: Senate Report
KPMG overlooked serious risks at three regional banks that collapsed in 2023, a U.S. Senate report has found, raising questions about the quality of oversight by one of the world’s largest audit firms.