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Washington
Inside Washington (12/13/2011)
  • WASHINGTON (12/14/11)--The Federal Deposit Insurance Corp.'s (FDIC)  new Office of Corporate Risk Management is less concerned with the risk assessment of the financial system and more focused on providing information on unseen risks to the agency internally and from the financial system, according to Stephen A. Quick, FDIC's first chief risk officer. Regulators are behind the banking industry in risk management expertise, Quick said (American Banker Dec. 13). The new office will likely improve that culture, Quick added. FDIC essentially functions as an insurance company, and should manage risk with the same diligence practiced by private-sector insurance companies, said Robert Litan, a senior fellow at the Brookings Institution and research chief at the Kauffman Foundation. The FDIC is unique from other financial regulators because its Deposit Insurance Fund is exposed to financial risk in the event of bank failures, Quick said. The agency also owns a large portfolio of assets that were taken over from failed institutions …
  • WASHINGTON (12/14/11)--Morris Morgan has been named the Office of the Comptroller of the Currency's (OCC) large bank deputy comptroller. Morgan, who currently serves as examiner-in-charge at PNC, will lead the examination and data analytics teams for a portfolio of large banks and thrifts. Morgan joined OCC's large bank supervision division in March 1999 and was assigned to the Bank of America examination team, where he served in general supervision duties before progressing to team leader roles covering capital markets, asset management, and then commercial credit. He has been with the OCC since 1985, examining banks in the Southwest District …


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