Fed's Bies on enterprise risk management

In the speech 'A supervisor's perspective on enterprise risk management' given on 12 June Susan Schmidt Bies of the Federal Reserve said the Federal Reserve is aware of the additional workload banks face in complying with rules aimed at fighting money laundering.

While banks view managing interest-rate and credit risks as part of their business, some may view reporting requirements intended to dry up the flow of funds to illegal activities as costly, Bies said.

"Many in industry have expressed

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