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Reserve Bank of New Zealand works towards implementation
Capital requirements for banks will soon be made more sensitive to the risks the banks are taking as a result of the Basel Accord. Speaking at the Retail Financial Services Forum, deputy governor Adrian Orr said the Reserve Bank was working intensively…
Basel Committee seeks comments on updated core principles
The Basel Committee on Banking Supervision has issued updated versions of the 1997 Basel Core Principles for Effective Banking Supervision and the 1999 Core Principles Methodology for public comment. The core principles are a benchmark to assess quality…
CEBS opens second round of consultation on outsourcing standards
The Committee of European Banking Supervisors (CEBS) has today started a second round of public consultation on the standards for outsourcing of credit institutions’ business activities.
Level 2 Draft Puts Industry on Notice
LONDON - Now that the European Commission has released the Level 2 draft of MiFID, most financial firms expect the November 2007 implementation date to be finalized any day now.
Gauging the MiFID effect
Despite uncertainty over its exact implementation, the EU's Markets in Financial Services Directive is set to utterly transform the financial services industry. Paul Kennedy says those firms that prepare for change now will fare best in the new landscape
Asking the Right Questions
Welcome to the launch of MiFID Meg, the monthly column dedicated to comment, chat and debate on every data manager's favourite EU directive, the Markets in Financial Instruments Directive.
FSA Timetable Adjusts to MiFID Schedule
In an effort to follow the European Commission's MiFID timetable, the Financial Securities Authority has established a schedule for its consultation program.
Federal Reserve governor discusses benefits of removing geographic restrictions in the EU
Federal Reserve board governor Randall Kroszner today spoke about how removing geographic restrictions on banking in Europe can benefit all EU banks. Kroszner cited examples from the US to support his argument.
Rabobank moves structuring from Singapore to HK
Rabobank International has announced plans to relocate its structuring arm in Singapore to Hong Kong. It said the move was in line with its corporate strategy to strengthen its capabilities in structured product origination, risk management and…
Hong Kong’s TMA to launch official spot fixing rate
Hong Kong’s Treasury Markets Associations (TMA) is to launch the official spot USD/HKD fixing rate on 6 April. The spot fixing rate is calculated and distributed by Reuters. It serves as a reference rate for the pricing of Hong Kong dollar-linked…
SG CIB offers first Charity note
SG Corporate & Investment Banking (SG CIB), the corporate and investment banking arm of the Société Générale Group, will launch its first Charity Guaranteed note, the Kashmir Relief note, on April 26.
RBS recruits from BNP Paribas to form Japanese equity derivatives business
The Royal Bank of Scotland (RBS) has launched a Japanese equity derivatives business within RBS Securities Japan, its wholly owned subsidiary in Tokyo, the bank said in a statement.
Asset Alliance gets in early with Eastern European fund of funds
Asset Alliance Corporation launched what may be the first fund of hedge funds (FoHF) dedicated to managers that invest in Central and Eastern Europe.
Intercorp builds single-manager platform
Investcorp has entered into a strategic partnership with Interlachen Capital Group, a Minnesota-based hedge fund manager, with the aim of launching a new multi-strategy fund onto Investcorp’s single-manager hedge fund platform.
FBE weighs in on implications of US delay
The European Banking Federation (FBE) has expressed concerns over any delay in US implementation of Basel II for European banks with subsidiaries in the US.
UBS Wealth Management launches World GROI
UBS Wealth Management is offering Australian investors exposure to the growth opportunities in international equity markets as well as a high level of capital protection with the launch of the UBS World Index Basket GROI product (World GROI).
UK IFAs seek commodity exposure
Barclays in the UK has launched a new plan that focuses on the theme of agricultural commodities following interest from IFAs and potential investors. The final returns of the Barclays six-year Agricultural Commodities Plan are based on the performance…
AIM offers seven retail mutual funds
Houston-based AIM Investments has launched seven structured retail mutual funds. The funds may use enhanced investment techniques such as leverage and derivatives, according to AIM.
CEBS publishes guidelines on implementation of advanced credit and operational risk approaches
The Committee of European Banking Supervisors (CEBS) today publishes its guidelines on the implementation, validation and assessment of the risk management and risk measurement systems used by credit institutions and investment firms applying to move to…
Transparency and communication essential to central banks
Amando Tetangco, governor of the central bank in the Philippines, has noted the growing importance of transparency and communication to central banks.
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