Secret bank ratings show US regulator’s concern on handling risk

Quick Summary:

NEW YORK: A key US regulator has privately found half of the major banks it oversees have an inadequate grasp of a broad swath of potential risks from cyber attacks to employee blunders, according to people familiar with the matter.

Operational risk is one of the categories by which regulators evaluate overall risk at the banks they oversee.

The harsh grades are part of sweeping regulatory scrutiny in the wake of the record-setting bank failures last year, after which regulators vowed to do more to identify and act on problems.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Banking Attack Cyber Security Breach /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 07:00:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 617 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21739973

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