Strengthening Bank Supervision: New Technologies for Financial Security
This act aims to modernize the technological systems of agencies overseeing banks to better protect your money and ensure financial system stability. This will enable agencies to detect threats and irregularities more quickly, increasing the security of your savings and transactions. Citizens can expect greater assurance that financial institutions are effectively monitored.
Key points
Banking supervisory agencies will assess their technological systems to better monitor financial institutions in real-time.
Weaknesses in technology and procurement processes will be identified to streamline the introduction of modern tools.
Reports will be regularly submitted to Congress, detailing progress and modernization plans, increasing transparency of supervisory actions.
Expired
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