Last week, The US Federal Reserve Board (FRB) released its semi-annual supervision and regulation report. Therein, the FRB outlines its regulatory and supervisory efforts throughout 2023.
In the report, the Fed explains that it is taking steps to enhance the "speed, force, and agility" of its supervision to "reflect lessons learned from the recent large U.S. bank failures and its supervision of Silicon Valley Bank." While the report gives examples of these efforts regarding the supervision of financial risk management, it is unclear if these efforts also target the supervision of non-financial risks, which have been widely acknowledged as the root cause of this year's bank failures.
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