Menghan Xiao

New York

Risk Management Reporter at Risk.net

Cover all things risk @RiskDotNet. [email protected]

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Articles

Citi close to launching GenAI investment tools

2 weeks ago | waterstechnology.com | Menghan Xiao

Citi expects to roll out investment advisory tools powered by generative artificial intelligence (GenAI) within 12 months. “Without going into too much detail—soon, like this fiscal year,” Victor Tewari, a senior vice president in the chief data office in Citi’s wealth management and private banking group, said of the timing of the initial launch. “Then, next fiscal year, widespread [rollout].” Tewari was speaking on a panel at WatersTechnology’s Tech and Data in Financial Markets (TDFM)
Citi close to launching GenAI investment tools

3 weeks ago | risk.net | Menghan Xiao

Citi expects to roll out investment advisory tools powered by generative artificial intelligence (GenAI) within 12 months. "Without going into too much detail - soon, like this fiscal year," Victor Tewari, a senior vice president in the chief data office in Citi's wealth management and private banking group, said of the timing of the initial launch.
CCAR at a turning point, but which way is forward?

3 weeks ago | risk.net | Menghan Xiao

Hostilities may have ceased but the battle isn't over. A legal dispute between the Federal Reserve and a group of US banking trade bodies over the country's annual stress-testing regime is on hold, after the warring parties agreed to pause litigation for the next two months. Now, banks and their lobbyists are on Fed alert, watching how far and how fast the regulator will go in its latest reforms of the Comprehensive Capital Analysis and Review.
Fed agrees to unveil stress test models in transparency U-turn

1 month ago | centralbanking.com | Menghan Xiao

Tweet Facebook LinkedIn Save this article Send to Print this page The US Federal Reserve has agreed to fully disclose its stress test models and introduce a suite of transparency measures by September 30, following months of mounting pressure from industry trade groups and legal action over opaque supervisory practices. In a May 23 court filing, the Fed and banking lobby groups, including the Bank Policy Institute (BPI), agreed to pause ongoing litigation until August 1.
Fed agrees to unveil stress test models in transparency U-turn

1 month ago | risk.net | Menghan Xiao

The US Federal Reserve has agreed to fully disclose its stress test models and introduce a suite of transparency measures by September 30, following months of mounting pressure from industry trade groups and legal action over opaque supervisory practices. In a May 23 court filing, the Fed and banking lobby groups, including the Bank Policy Institute (BPI), agreed to pause ongoing litigation until August 1.
Wait in the Q: US banks hold back on tariff-related provisions

1 month ago | risk.net | Menghan Xiao

US banks have until the end of June to work out how far president Donald Trump's tariff policies will affect their loan portfolios. After that, they will need to prepare and publish second-quarter accounts that include their loan-loss provisions based on Current Expected Credit Loss (CECL) projections. The trouble is, the borrowers themselves may not know yet how higher tariffs will affect their businesses, and no-one knows exactly how the global trade tensions will develop.
BoE plans to link system-wide and individual stress tests

1 month ago | centralbanking.com | Menghan Xiao

Tweet Facebook LinkedIn Save this article Send to Print this page The Bank of England plans to combine its newly designed system-wide stress test with traditional firm-level stress tests into a single, co-ordinated framework, in a bid to more thoroughly capture risks and interconnections across the financial system, according to a senior official.
BoE plans to link system-wide and individual stress tests

2 months ago | risk.net | Menghan Xiao

The Bank of England plans to combine its newly designed system-wide stress test with traditional firm-level stress tests into a single, co-ordinated framework, in a bid to more thoroughly capture risks and interconnections across the financial system, according to a senior official.
OCC's security chief on generative AI with guardrails

2 months ago | risk.net | Menghan Xiao

The financial industry's scramble to adopt generative AI has sometimes resembled a modern-day goldrush of companies beating a trail to the tech haven of California's Silicon Valley in search of a competitive edge in this latest form of artificial intelligence. Leading the effort in many companies is the chief technology officer. At the Options Clearing Corporation, the remit for GenAI development falls instead to Matt Rathbun, chief security officer-elect at the derivatives clearing giant.
Market whipsaw spurs calls to rethink buy-side stress-testing

2 months ago | risk.net | Menghan Xiao

Buy-side risk experts have said the tariff-driven volatility of the past few days has highlighted the need for flexible approaches to stress-testing, with a move beyond traditional assumptions and risk factor definitions. "We live in times where we see things we have never seen before [and] we have dynamics that play out differently than the past," said Mohamed El Hioum, executive director at Morgan Stanley.