Fed points to non-financial risks at large US banks

Federal Reserve

The Federal Reserve says most of its outstanding supervisory findings for both US-based and foreign-owned large banks concern non-financial risks.

Concerns regarding US-based global systemically important banks’ anti-money laundering programmes, internal audit functions and IT risk management make up more than 60% of the supervisors’ outstanding findings, the report shows.

These non-financial risks also make up over 90% of findings for foreign-owned banks, the Fed’s November 26 supervision and

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