Office of the Comptroller of the Currency (OCC)
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…
US regulators warn financial institutions on supporting affiliated investment funds
The US Federal and Thrift Supervisory agencies have issued a policy statement warning financial institutions to be cautious of material risks inherent in supporting affiliated investment funds.
Complex issues must be resolved before Basel II can be implemented, says US regulator
Although the US remains committed to completing work on Basel II by mid-2004, many complex issues must be resolved before the new capital Accord can be implemented, according to John Hawke, the US Comptroller of the Currency.
Testy politicians muscle in on Basel II negotiations
Members of the European Parliament (MEPs) based in Brussels and members of the US House of Representatives in Washington DC are beginning to throw their weight around in the Basel II process.
Glass-Steagall and Dingell?
Congressman John D. Dingell, the indefatigable Democrat from Michigan, has embarked on a crusade against the practice of 'tying' – where banks use loans to secure further business.
US Congress Basel II bill is put on hold, for now
Washington DC – The bill written by the House of Representatives' Financial Services Committee, which was designed to take control of the Basel II negotiation process away from US regulators and hand it to Congress, has been shelved for now, say…
ANPR maps out US differences on Basel II implementation for banks
WASHINGTON, DC - US regulators are determined to go their own way when it comes to implementing Basel II, according to the government's ANPR, published in mid-July.
Basel II Forum USA: Speakers stress feedback can still shape regulation
With the commentary period for the Basel Committee on Banking Supervision's final consultative paper (CP3) officially ending tomorrow, two speakers at Risk's Basel II Forum USA urged banks to be vocal about concerns related to the implementation of Basel…
Basel II Forum USA: Speakers stress feedback can still shape regulation
With the commentary period for the Basel Committee on Banking Supervision’s final consultative paper (CP3) officially ending tomorrow, two speakers at Risk ’s Basel II Forum USA urged banks to be vocal about concerns related to the implementation of…
US regulators issue their advance notice of proposed rulemaking
US regulators published the much-awaited advance notice of proposed rulemaking (ANPR) late on Friday afternoon, after a meeting of the Board of Governors of the Federal Reserve.
Derivatives concentrated in largest US banks, says OCC
Seven banks in the US account for almost 96% of the total notional amount of derivatives in the commercial banking system, the Office of the Comptroller (OCC) of the Currency has said in a report.
US Congress tries to tame Basel II
Members of the US House of Representatives have proposed a bill that would place Congress firmly in control of the nation's Basel II debate.
BoA’s Mooney joins Trafigura
David Mooney has left Bank of America in New York and joined Trafigura, a privately owned Swiss-based commodity trading company with offices in 30 countries. Mooney, former head of commodity derivatives at BoA, joined Trafigura’s London office as head of…
US deadlines for regulatory proposals revealed
The US plans to kick its Basel II regulation machine into gear fairly quickly, according to a source with regulatory connections.
US regulators restrict Basel II adoption amid agency infighting
In Congressional hearings yesterday, top US bank regulators sharply criticised the proposed Basel Accord revisions, and used their criticisms to justify plans to apply the new set of international banking regulations to only the top 10 banks in the…
US Senate calls for structured finance probe
The structured finance businesses of leading financial institutions in the United States are set to face a major business practice investigation during the next six months, with top US regulators set to introduce a new code of governance for structured…
Basel to adopt flexible approach to point-in-time and business cycle ratings
NEW YORK - The Basel Committee on Banking Supervision, the architect of the Basel II capital Accord, will adopt a flexible approach to point-in-time and business cycle credit ratings used by banks when reviewing advanced internal-rating based approaches.
Derivatives volumes soar in US, says OCC
Notional derivatives volumes held by US commercial banks increased by $3.8 trillion in second-quarter 2002, to $50.1 trillion - the second highest amount ever recorded, the US Office of the Comptroller of the Currency (OCC) reported yesterday in its…
US banks review legal options against operational risk charge
WASHINGTON - US opponents of capital charges as a protection for banks against operational risk are not giving up the fight following the reaffirmation by global banking regulators of their faith in such charges.
US Comptroller wants attractive advanced approaches to op risk
The best way of resolving arguments about whether operational risk capital charges are suitable for banks is to make advanced op risk measurement approaches, such as the scorecard method, attractive to banks, US Comptroller of the Currency John Hawke…
OCC says derivatives revenues, notionals down
US commercial banks’ revenues from derivatives fell by $805 million, to $2.65 billion, from the third to the fourth quarters of 2001, according to figures released yesterday by the Office of the Comptroller of the Currency (OCC).