Banks fear Fatca raises operational and systemic risks

Facing up to Fatca

big-red-hand

Banks in the US and elsewhere fear the new US Financial Accounting Compliance Act (Fatca) will impose heavy burdens on the global financial services industry – creating complicated, long-term problems.

Institutions say they face large compliance costs under Fatca. Once compliance is under way, several operational risks must be dealt with, including legal concerns for compliant institutions. The new law might also expose banks to new reputational risks. There are also fears that Fatca will create

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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] 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 Risk.net? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Risk.net 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: