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What is your risk appetite? regulator asks U.S. banks 

January 20, 2014
Emily Stephenson, Reuters

Big U.S. national banks would have to report their risk appetites and boost oversight by their boards under new rules proposed by a U.S. bank regulator on Thursday to help avoid a repeat of the 2007-2009 financial crisis.

The Office of the Comptroller of the Currency (OCC) issued the guidelines as part of its "heightened expectations" program for the biggest U.S. banks.

Bank regulators, particularly the OCC, came under intense scrutiny for not cracking down on dangerous activity that fueled the 2007-2009 financial crisis.

The OCC also faced criticism after the "London whale" incident, in which traders at JPMorgan Chase placed outsized bets that wound up costing the bank billions of dollars.

Read more: Reuters

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