Federal Reserve Bank of Richmond
Cyber risk can be modelled like credit risk, says Richmond Fed
US supervisors may begin to use historical datasets to assess risk at banks and system-wide
Banks warn of rise in ransomware attacks
OpRisk Europe: Banks must improve resilience of remote-working staff, says Wells Fargo financial crime expert
Fed may push banks to share cyber loss data
Watchdog doesn’t rule out “mandatory collection” of data on causes and impacts
Industry to take up Fed’s white paper on cyber risk
Workshop will delve into definitions and classifications of the most chameleon of risks
Modelling cyber losses could get easier – study
Cyber losses behaved much like non-cyber losses when grouped by severity, so perhaps less data is needed
The disputed terrain of model risk scoring
There is no concord on how banks should police their model risk. But two Fed economists have an idea
Fed’s Curti: SMA will smooth capital mismatches
OpRisk North America: non-US banks holding less capital under own-models approach was “a big problem”, says regulator
Cyber security expert issues call to modernise Patriot Act
OpRisk North America: current policies make it difficult to share information on cyber attacks
Fed presidents push back against calls for governance reform
Current arrangements protect independence, argue George and Lecker
Wall Street trading software not adequately tested, experts warn
Recent glitches highlight aggressive culture on Wall Street
Still no end in sight for US banks' parallel run
Overtaken by events
OpRisk North America: Banking industry failed to tackle parallel runs, says regulator
Failure is a "black eye" for US financial sector, according to Federal Reserve Bank of Richmond unit head