Bloomberg report: Risk-management weak at many banks said US regulator

WASHINGTON, D.C.: Confidential assessments by a top U.S. bank regulator have revealed that 11 of the 22 large banks under its supervision exhibit "insufficient" or "weak" management of various risks, ranging from cyberattacks to employee errors, Bloomberg News reported on Sunday.

According to the report, approximately one-third of these banks received ratings of 3 or below on a 5-point scale for their overall risk management in confidential evaluations conducted by the Office of the Comptroller of the Currency (OCC).

The OCC did not immediately respond to a Reuters request for comment.

However, in a statement to Bloomberg, the OCC mentioned that Acting Comptroller Michael Hsu has "consistently discussed the need for banks to guard against complacency and actively manage their risks to build and maintain trust in the federal banking system."

This report comes on the heels of a recent global computer systems outage that disrupted services across multiple sectors, including airlines, healthcare, shipping, and finance, just two days ago.