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Creating a new foundation for risk management
The Chicago Fed?s Supervision and Regulation Department, in conjunction with DePaul University?s Center for Financial Services, sponsored its fourth annual Financial Institution Risk Management Conference on April 11?12, 2011. In addition to discussions about risk management, this year?s conference focused on the impact of the Dodd?Frank Wall Street Reform and Consumer Protection Act (Dodd?Frank Act).
Working Paper
Technology Providers and Financial Stability: Overview of Risks and Regulatory Frameworks
Technology-focused Third-Party Service Providers (TPSPs) have become important players in the operations of financial institutions and the financial markets. This paper summarizes the micro- and macro-prudential regulatory frameworks in place to address risks that TPSPs may pose to the financial system.
Working Paper
Technology Providers and Financial Stability: Overview of Risks and Regulatory Frameworks
Technology-focused Third-Party Service Providers (TPSPs) have become important players in the operations of financial institutions and the financial markets. This paper summarizes micro- and macro-prudential regulatory frameworks in place to address risks that TPSPs pose to the financial system. The key takeaways are as follows: First, in the U.S., TPSPs operate under limited comprehensive prudential regulatory oversight, aimed primarily at ensuring that their products are safe and resilient on an ongoing basis. Second, while banks rely on multiple TPSPs and hundreds of their services daily ...