Office of the Comptroller of the Currency (OCC)
OCC merges credit and market risk units
The Office of the Comptroller of the Currency (OCC), a division of the US Department of Treasury, which regulates national banks, is in the process of merging its credit and market risk divisions.
OCC merges credit and market risk units
The Office of the Comptroller of the Currency (OCC), a division of the US Department of Treasury, which regulates national banks, is in the process of merging its credit and market risk divisions.
US regulators revise Basel II timetable
US Federal banking agencies have announced a revised domestic implementation timeline for Basel II
BIS issues corporate governance paper
The Basel Committee on Banking Supervision has issued sound corporate governance guidelines for banking organisations. The guidelines, open for public comment until October 31, are to supersede similar principles issued in 1999 by the Committee.
US banks hold $91 trillion in derivatives, says OCC
The notional volume of derivatives held by US banks rose by $3.2 trillion to $91.1 trillion in the first quarter of the year, according to the US Office of the Comptroller of the Currency (OCC).
OCC targets large banks’ reputational risk
WASHINGTON, DC – The Office of the Comptroller of the Currency (OCC) will be paying particular attention to reputation risk management in large banking organisations, says acting comptroller of the currency, Julie Williams.
Dow Jones granted temporary restraining order against ISE
The New York-based International Securities Exchange (ISE) has been temporarily barred from listing and trading options on DIAMONDS, a unit investment trust referencing securities from the Dow Jones Industrial Average index.
Agencies warn banks of risks in bank-owned life insurance
US financial regulators (the Agencies) have released a joint statement warning financial institutions that the purchase and risk management of bank-owned life insurance (BOLI) must be consistent with safe and sound banking practices.
OCC urges banks to match risk appetite with internal control capabilities
The Office of the Comptroller of the Currency (OCC), the primary supervisor of US national banks, has urged banks to match risk appetites with internal control capabilities.
US agencies issue QIS4 and LDCE survey materials
US financial regulators have issued survey materials for the fourth Quantitative Impact Study (QIS4) and the Loss Data Collection Exercise (LDCE) in preparation for the implementation of the Basel II capital framework in the US.
American regulators release proposed guidance for IRB systems for retail credit exposures
The Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Office of Thrift Supervision (The Agencies) have proposed guidelines for Internal Ratings-Based Systems for Retail Credit Risk…
Smothered by red tape
In response to a string of dubious structured finance transactions (remember Enron?), the ever-watchful regulators have proposed a set of guidelines which observers fear could choke the market.
Smothered by red tape
In response to a string of dubious structured finance transactions (remember Enron?), the ever-watchful regulators have proposed a set of guidelines which observers fear could choke the market.
Smothered by red tape
In response to a string of dubious structured finance transactions (remember Enron?), the ever-watchful regulators have proposed a set of guidelines which observers fear could choke the market.
Collateralization: A safety net for investors?
The proliferation of credit derivatives has given rise to the widespread use of collateralization—posting collateral against the risk of default. But as Saskia Scholtes reports, this practice may be creating its own risks.
Collateralization: A safety net for investors?
The proliferation of credit derivatives has given rise to the widespread use of collateralization—posting collateral against the risk of default. But as Saskia Scholtes reports, this practice may be creating its own risks.
Dealers hit out at US structured product proposal
Financial institutions are increasingly concerned about a multilateral proposal by the primary US federal banking and securities agencies aimed at offering best-practice guidelines on their use of complex structured finance. They are fearful the…
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
US regulators scorned over "prescriptive" proposal
The financial services industry's reaction to a new proposed statement from US regulators on complex structured finance activities was "somewhere between terrified and scornful", according to one industry association executive. Another industry…
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
US agencies seek feedback on structured finance guidelines
Five US federal agencies have issued a statement describing internal controls and risk management procedures designed to help financial institutions identify and address risks associated with complex structured finance activities.
Regulators remain fuzzy on practicalities of AMA group allocation approach
Both US and UK regulators offered only clues about how the various controversies surrounding the group allocation issue would be resolved at OpRisk Europe and OpRisk USA, hosted by Incisive Media in March.
US Congressman blasts Basel II while supervisors forge ahead
A US Congressman sent waves of panic across Europe when he announced at a fringe event of the World Economic Forum in Davos, Switzerland in late January that he had serious reservations about whether the US would ever adopt Basel II.
JP Morgan Chase set to increase lead as largest US derivatives bank
JP Morgan Chase, the bank with the largest exposure to derivatives in the US, is set to increase its lead with the takeover of Bank One. The derivatives exposure of the combined banks will approach $35.5 trillion, nearly 54% of the combined value of the…