Menu
Banking Exchange Magazine Logo
Menu

What the FSOC’s Annual Report Means for Banks

Claimed that post crisis financial reforms have helped temper the risk of another crisis

  • |
  • Written by  Banking Exchange staff
  • |
  • Comments:   DISQUS_COMMENTS
What the FSOC’s Annual Report Means for Banks

Not surprisingly, the Financial Stability Oversight Council claimed that post crisis financial reforms have helped temper the risk of another crisis in its annual report.

“It is clearly stronger and much better positions to withstand shock or an economic downturn than it was before the crisis.” Well, maybe and maybe not, as many of the regulations do not match up to where the FSOC sees the greatest risk. While the risk remains moderate in its estimation, the FSOC has sighted the following threats to financial institutions.

  • Cybersecurity
  • Effective transition away from Libor to continue
  • Federal Debt burden
  • Brexit

The report did not focus on the size of the banks that could be threatened by these factors.  It is likely, in the estimation of Banking Exchange, that all but Cybersecurity could pose a bigger threat to the nation’s largest banks than small to midsize banks that are less exposed to institutional investments.   However, Cybersecurity should be on the front of every bank’s priority list because it can effect any bank.     

back to top

Sections

About Us

Connect With Us

Resources

Webinar: In-person and Remote Banking –
Why this Hybrid Model is the Future of the Branch

Banks combine the brick and mortar
physical banking experience with virtual banking

Time/Date: August 5th, 2021 2:00 P.M. ET

As consumers increasingly prefer to engage with their bank remotely instead of going to a branch location, institutions are looking to modernize the ways in which they interact with customers. Depending on the complexity of the banking activity, some consumers will use self-service digital channels while others will turn to channels where they can get human help. In a hybrid banking model, banks combine the brick and mortar physical banking experience with virtual banking.

In this webinar, OneSpan and guest speaker Alyson Clarke, Principal Analyst at Forrester Research, will discuss why hybrid banking will become mainstream and the importance of putting the right tools in place to support remote account opening, account maintenance, wealth management, and lending.

REGISTER NOW!

This webinar is brought to you by:
OneSpan Logo