The Bank of England yesterday published an eagerly awaited report on how the government would handle a disaster striking the financial sector, such as a terrorist bombing.
More than 1,000 investment firms and 9,322 banks will implement the EU's capital adequacy directive, according to Patrick Pearson, head of banking and financial conglomerates unit of the internal markets division of the EU Commission.
The Basel Committee on Banking Supervision published a consultation paper yesterday outlining basic guidance for banks on the structure and operation of their compliance function, and "sets out banking supervisors' views on compliance in banking organisations."
Frankfurt – The European Central Bank (ECB) is continuing its push for the creation of a single euro payments area (SEPA), and the private sector is working hard to keep up with the pace of change.
The Hong Kong Monetary Authority, the financial regulator for the special administrative region of China, will not be mandating that certain types of banks adopt certain portions of the revised Basel Accords, according to a speech by Simon Toping, executive...
US regulators published the much-awaited advance notice of proposed rulemaking (ANPR) late on Friday afternoon, after a meeting of the Board of Governors of the Federal Reserve.
The EU Commission will conduct a survey of the impact that the organisation's capital adequacy directive (CAD) will have on small and medium-sized banks and corporates (SMEs) over the coming months, and the results will be available before the end of...
The Basel Committee on Banking Supervision has published additional statistical data from the third quantitative impact study (QIS3), which was originally released on May 5.
CP3 Alert covers the most significant changes incorporated into CP3 by the Basel Committee, including alterations to the sections on securitization, operational risk, residential mortgages, credit derivatives, and the supervisory and public disclosure...
A new chairman of the UK's Financial Services Authority was announced yesterday by Chancellor Gordon Brown.
Many offshore centres have weaknesses in the on- and off-site supervision of their banking systems, as well as "less material weaknesses" in their credit supervision and market risk, according to a study by the International Monetary Fund (IMF).
WASHINGTON, DC - "It is difficult to see how a regulatory operational risk-based capital rule would have promoted the financial system’s rapid recovery on 9/11," said David Spina, chairman and chief executive officer of State Street Corporation, the...
The International Swaps and Derivatives Association (Isda) and the London Investment Banking Association (Liba) have released their joint response to the European Union's third capital adequacy directive (CAD3). The response was delivered at non-public...
Domestic banks and corporate banking customers in central and eastern Europe could have trouble adapting to the changes the revised Basel Accord would have on their economies.
TOKYO – In mid-January, Japan's Financial Services Agency (FSA) issued administrative actions against the Tokyo branches of both Crédit Lyonnais Securities Europe and ING Securities after the agency found regulatory breaches at both firms.
“We don’t like portfolio management,” says Björn Börjesson, executive vice-president and head of the central credit department at Svenska Handelsbanken in Stockholm.
Credit risk management systems are surprisingly sophisticated at many Nordic banks. Ellen Leander examines the changes being made to existing infrastructure to keep that edge.