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Recent Editions
Risk Channel
North America
NASA has said the botched 2024 Starliner mission, which left two astronauts stranded in space for nine months, was a "Type A" mishap - at the same level assigned to the fatal 2003 Columbia and 1986 Challenger space shuttle disasters. The category is reserved for incidents causing more than $2m in damage, the loss of a vehicle or its control, or deaths. NASA Administrator Jared Isaacman sharply criticized Boeing and NASA leadership for their handling of the mission during a news conference timed with the release of a 300-page report that detailed communication breakdowns and "unprofessional behavior" as the agency and its longtime contractor struggled to agree on how to safely return the crew to Earth. "We returned the crew safely, but the path we took did not reflect NASA at our best," Isaacman said.
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Risk Channel
UK/Europe
The European Central Bank (ECB) has fined JPMorgan’s European unit €12.18m ($14.32m) for misreporting capital requirements after incorrectly calculating risk-weighted assets. The ECB said that “between 2019 and 2024” the bank reported risk-weighted assets that were too low because it misclassified corporate exposures for 15 consecutive quarters and applied a lower credit-risk weight than banking rules require. The ECB also said some transactions were improperly excluded from calculations. JPMorgan said it acknowledged the fine, self-reported the issues, and has fully remediated them.
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