Ms Reena Agrawal Sahni

Reena Agrawal Sahni

Updates

Banking & Financial Services

Getting smart: financial regulators seek input on AI
USA | 13 April 2021

Various federal agencies recently issued a request for information (RFI) which seeks insight into the financial industry's use of AI in the provision of financial services to customers and appropriate AI governance, risk management and controls. The RFI reflects the federal agencies' increasing interest in AI, particularly regarding the risks that it poses to consumers and the safety and soundness of financial institutions.

LIBOR transition update: financial institutions brace for exam scrutiny
USA | 06 April 2021

The Federal Reserve Board recently published guidance for examiners on how to assess a supervised firm's progress in its transition away from the use of the London Interbank Offered Rate (LIBOR). This article summarises the notable features of this guidance. Firms should allocate adequate attention and resources to the effective design, implementation and execution of their LIBOR transition plans

Final rule issued on qualified financial contracts: what you need to know
USA | 08 November 2017

The Board of Governors of the Federal Reserve System recently adopted a final rule requiring US global systemically important banking institutions (GSIBs), their subsidiaries and the US operations of foreign GSIBs (covered entities) to amend many of their qualified financial contracts in order to restrict their counterparties' ability to immediately terminate such contracts in the event that the covered entity or an affiliate enters into bankruptcy or resolution proceedings.