Banks must boost efforts to reduce excessive risk taking through reform of compensation practices, a Federal Reserve guidance report on incentives compensation said on Monday
The Fed report - published in collaboration with the Office for the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation - showed that firms had not fully adjusted the incentives structure of their compensation practices to discourage excessive risk-taking by employees
- Bank of Mexico admits $15.2 million went missing in cyber heist
- Is this the beginning of a new era of credit risk management technology?
- Argentina rescue advances as emerging markets suffer outflows
- Artificial intelligence: The future of regulation?
- Norges Bank does not rule out launching digital currency