Fed Sees Limited Fallout for U.S. Banks From War in Ukraine
- Some lenders boosting cyber defenses, central bank says
- Federal Reserve releases Supervision and Regulation Report
A destroyed residential building in Borodyanka, Ukraine on May 3.
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The impact on U.S. banks from Russia’s invasion of Ukraine has been limited, the Federal Reserve said in a report on Friday.
While some American lenders have started to exit the region, the overall impact on their operations has been moderate, the central bank said in its semiannual Supervision and Regulation Report. Still, the conflict has prompted banks to bolster cyber defenses, the Fed said.