Coleman warns of stability dangers from regulatory reform

Operational risk, not market or credit risk, is now seen as the biggest threat to financial stability - and the New York Fed's Stacy Coleman warns that deliberate attack and regulatory change are among the most worrying operational dangers for individual banks and the entire financial system. By Alexander Campbell


As head of operational risk at the New York Federal Reserve Bank, Stacy Coleman spends much of her time concerned about the stability of the US financial system - but, she says, the threats that worry her most have as much to do with September 2001 as September 2008.

Seven years before the growing US subprime mortgage crisis caused the downfall of major investment banks in the largest financial upheaval in 70 years, the September 11 terrorist attacks had dramatically demonstrated the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here