Federal Reserve
Barings: Subprime not to blame for increased LBO risk
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.
Bringing down the house
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 in…
Fed board member calls for flexibility
Regulators must keep up with intermediaries: Fed board governor
Federal Reserve outlines future action on sub-prime market
Fed discusses subprime market
Geithner outlines US policy responses to changing risks
Fed discusses new risk in financial systems
Fed vice-chair outlines views on financial stability and policy
Fed: Credit derivatives have been boon, liquidity events pose risk
Bernanke opines on credit derivatives
Fed chairman discusses role of regulators in credit derivatives
Susan Schmidt Bies resigns
Susan Schmidt Bies has resigned as a member of the Board of Governors of the Federal Reserve System
The role of the Federal Reserve Board
Chairman Ben Bernanke explains the functions of the Board and upcoming challenges
Federal Reserve issue notice of proposed rulemaking on Basel Ia
US takes its next step towards Basel implementation
Governor Susan Schmidt Bies speaks about American Basel II implementation
Speaking at the Institute for International Bankers Seminar the Governor sought to highlight recent US Basel II compliance developments
Isda praises letter to Geithner on equity derivatives
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 of the…
Plain English please
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 – came…
Exclusive: Read Letters and between Federal Reserve and US banking industry
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.
NPR release muddies the op risk waters
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 Federal Reserve backs Basel II for all US banks
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…
Fed gets a pasting over capital rules
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.
Fed praises credit derivatives progress
The New York Federal Reserve Bank has praised credit derivatives dealers for cutting delays in deal processing
Fed fines ABN Amro $80 million
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…
Comment requested on revised non-Basel II capital adequacy standards
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 stand the test of time, Says Schmidt Bies
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.
QIS 4 results are worrisome, say banking agencies
American federal banking agencies have told Congress of their deep concerns about the results of the fourth Basel II Quantitative Impact Study (QIS4).
Basel IIBetter for everyone?
On June 26, 2004, international banking supervisors agreed in Basel, Switzerland to a new framework that will alter the way many banks calculate their capital requirements. The new Basel Capital Accord is to be phased in during 2007 and is scheduled for…
US regulators release details of Basel II qualification process
US financial regulators - including the Federal Reserve and the Office of the Comptroller of the Currency - have released preliminary details of the qualification process that financial institutions in that country will have to follow to implement the…