Disclosure
Basel Agonistes
Perhaps only by comparison with the 1988 Basel capital Accord does its successor look appealing. Basel I is widely derided for institutionalising irrationality in lending and loan portfolio management.
Corporate Governance Survey 2003, Part 1 >> Op risk disclosure: a long road ahead
Although most banks now have a separate section on operational risk in their annual reports, disclosure levels vary considerably. Here, Operational Risk's editorial staff review 15 bank annual reports to uncover reporting and management practices in 2002
Fed links op risk and disclosure
WASHINGTON, DC - Two Federal Reserve speeches in May highlighted the links between corporate governance and risk management.
How to run a market
Former-derivatives-trader-turned-author Frank Partnoy wants to see tougher accounting standards and risk disclosures to deter corporate crooks. But are the regulators listening? Maria Kielmas reports
Derivatives disclosure calls mount
Warren Buffett's stinging critique of the derivatives business in March represents the latest call for more derivatives disclosure. But despite some notable moves in this direction, most financial institutions remain stubbornly opaque.
"Substantial flaws still remain" in Basel II, says CSFB's Ervin
"While there is much to admire in the new [Basel II] rules, there are also many elements that raise serious concern," said Wilson Ervin, a managing director and head of the firm's strategic risk management department of Credit Suisse First Boston, who…
BIS puts spotlight on credit risk transfer
In a report published today, the Bank for International Settlements (BIS) highlighted disclosure, concentration and the role of ratings agencies as key features of the credit risk transfer market that may need to be addressed with regulation.
Basel II will have profound effect on US banks, says regulator
ORLANDO, FLORIDA - The Basel II capital accord will have profound implications for risk management techniques and capital management in the larger US banks, a leading US banking regulator said in late October.
Legg Mason Gets a Leg Up on Disclosure
Baltimore-based Legg Mason is one of the first firms to tap software to comply with NASD Rule 2711 about disclosing conflicts of interest.
Fed's Gordy criticises Basel II procyclicality adjustment
NEW YORK - The procyclicality ‘smoothing’ adjustment technique likely to form part of the Basel II capital Accord is sub-optimal, according to Michael Gordy, a senior economist in the research and statistics division of the Board of Governors of the…
Single bank capital accord for all banks is impossible, says Basel Committee chief
CAPE TOWN, SOUTH AFRICA – Differences between banking systems make it impossible to conceive of a single bank protective capital accord that would work for all banks in all countries, the world’s top international banking regulator said today.
More information on credit risk transfer needed, says IMF’s Häusler
Gerd Häusler, director of the international capital markets department at the International Monetary Fund (IMF), today highlighted that too little is known about where credit risk ultimately resides in the financial system.
SAP launches new Basel II functions for mySAP Banking
WALLDORF, GERMANY – German software services provider SAP said it is providing new functions for its mySAP Banking package to help banks meet the requirements of the risk-based Basel II capital accord and new international accounting standards in the…
US central banker urges pillar 3 action now in light of scandals
Recent accounting scandals mean international banks should start improving their disclosure of risks and capital adequacy now and not wait for the pillar 3 disclosure provisions of the Basel II bank accord to take effect in late 2006, a senior US central…
New disclosure rule boosts pension risks
New UK accounting rule FRS 17 will force companies to disclose pensions liabilities on corporate balance sheets. The risk management issues are wide-ranging, and experts have few easy answers. Furthermore, the new rule could soon be adopted in a number…
Regulators want active dialogue on op risk
BASEL - Active dialogue between banks and their supervisors is the key to the continued development of approaches to managing operational risk, global banking regulators said in a much-delayed paper on op risk sound practices issued in December.
The Basel II capital accord: op risk proposals in brief
This summary has been updated to include the revisions to the Basel II op risk proposals contained in the Working Paper on the Regulatory Treatment of Operational Risk issued in September, 2001 and available on the Bank for International Settlements'…
Basel moves on disclosure
The Basel Committee on Banking Supervision recently announced two significant revisions to its new capital adequacy framework (new Basel Capital Accord or Basel II), which are set to have positive and far-reaching implications for the global banking…
Basel II regulators lighten pillar 3 disclosure burden
BASEL - Global banking regulators said in late September they would significantly reduce the amount of information they would require from banks under a key provision of the proposed Basel II banking accord.
Openness essential to avoid Basel II Op Risk inconsistency, say credit-raters
Openness and disclosure between banks and global regulators will be "highly desirable, if not essential" if there are not to be major inconsistencies in setting operational risk charges after 2004.