Six US regulatory agencies have called for more loss-mitigation strategies to prevent homeowner defaults on mortgages. In a joint statement released yesterday they said that all regulated financial institutions that service mortgage loans should take...
An increase in the premiums investors require to take risk is probably a healthy development, said US Federal Reserve chairman Ben Bernanke.
Spread widening in corporate credit and leveraged debt has been wrongly attributed to the fallout from the US subprime mortgage market, according to Baring Asset Management.
There is evidence to support the claim that the subprime mortgage crisis in the US may have had its roots in operational risk problems. But just what caused the crisis, and could it have been averted if the firms involved had robust op risk frameworks...
Regulators must keep up with intermediaries: Fed board governor
Fed discusses subprime market
Fed discusses new risk in financial systems
Fed: Credit derivatives have been boon, liquidity events pose risk
Fed chairman discusses role of regulators in credit derivatives
Susan Schmidt Bies has resigned as a member of the Board of Governors of the Federal Reserve System
Chairman Ben Bernanke explains the functions of the Board and upcoming challenges
US takes its next step towards Basel implementation
Speaking at the Institute for International Bankers Seminar the Governor sought to highlight recent US Basel II compliance developments
The International Swaps and Derivatives Assocation (Isda) has said it “applauds and supports” a letter from 17 investment banks to Timothy Geithner, president of the Federal Reserve Bank of New York, which commits them to improving the efficiency...
Complaints are reaching me about the way in which the US regulators have released the notice of proposed rulemaking (NPR). My sources point out that the advance notice of proposed rulemaking – released way back in those halcyon days of August 2003 –...
BaselAlert has gathered a series of letters to the Fed and notes from the meetings between the Fed and industry regarding the Notice of Proposed Rulemaking for Basel II in the US.
Operational risk executives are scrutinising the recently released NPR by the US Fed, which, despite clarifying some points, has nevertheless created new contentious issues. Choongo Moonga reports
Chairman of the US Federal Reserve System, Ben Bernanke, has offered his support for US-wide implementation of Basel II. Speaking at the Independent Community Bankers of America National Convention this week, Bernanke asserted that although community...
WASHINGTON, DC – The new capital rules for non-Basel II banks in the US received a pasting in comments from firms and industry bodies posted on regulatory websites in late January.
The New York Federal Reserve Bank has praised credit derivatives dealers for cutting delays in deal processing
The US Federal Reserve has ordered ABN Amro to pay $80 million in fines for lacking adequate risk management that could identify money laundering activities in its overseas branches. According to the order released on December 19, the Amsterdam-based...
Several US banking oversight and regulatory agencies, including the Federal Reserve Board, have requested public comment within 90 days on proposed changes to current US capital adequacy standards. The revised standards would, in the future, apply to...
Basel I will remain appropriate for most US banking organisations for years to come, says Susan Schmidt Bies, member of the board of governors of the Federal Reserve System.
American federal banking agencies have told Congress of their deep concerns about the results of the fourth Basel II Quantitative Impact Study (QIS4).