Basel II
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Algo offers op risk system to deal with multiple regulatory regimes
Canadian software company Algorithmics has updated its operational risk management system to consolidate data capture for all regulatory information ranging from Basel II to Sarbanes-Oxley.
Credit derivatives professionals slam IAS
Financial market participants have slammed International Accounting Standard 39 (IAS 39) for financial hedge instruments, according to a British Bankers’ Association (BBA) credit derivatives survey.
Sponsor's article > Portman Building Society Selects SunGard's Basel II Capital Manager
SunGard Trading and Risk Systems, an operating group of SunGard (NYSE:SDS), has announced that UK-based Portman Building Society has chosen SunGard's Basel II Capital Manager to help it to comply with the new Basel II regulations and to achieve best…
HKMA to rule out AMA approach
Hong Kong’s banking regulator, the Hong Kong Monetary Authority (HKMA), will not allow the territory’s banks to use the advanced measurement approaches (AMA) for measuring operational risk when Basel II is implemented from the end of 2006.
Basel II Alert - Highlight of Critical Changes
It has been more than six years in the making, but the final text of the Basel II framework has arrived. The Basel Committee on Banking Supervision published the text at the end of June to a mix response from the financial services industry.
Bank associations hit out at Basel II failings
International banking bodies have hit out at perceived failings in the final version of the Basel II capital Accord, published by the Basel Committee on Banking Supervision on June 26.
Recalibration of Basel II announced in final document
The final version of Basel II was released on Saturday, June 26, at an evening press conference in Basel, Switzerland.
Basel II proposal out in June; AMA/IRB approaches to be delayed
Yesterday, the Basel Committee on Banking Supervision confirmed that it will release the New Basel Accord, also known as Basel II, at the end of June 2004. But the Committee said the implementation of the advanced measurement approach (AMA) for…
Advanced IRB Basel II approach delayed
The Basel Committee on Banking Supervision said the implementation of the advanced internal ratings-based approach (IRB) for credit risk and the advanced measurement approach (AMA) for operational risk would be delayed until the end of 2007. This will…
Hong Kong focuses on Basel Sound Practices on OpRisk Management
Hong Kong will focus on implementing the Basel Sound Practices for Operational Risk Management rather than the Advanced Measurement Approaches (AMA), according to Simon Topping, executive director for Banking Policy at the Hong Kong Monetary Authority.
PD estimates for Basel II
One of the main issues banks will have to face to comply with the new Basel II internal ratings-based approach is to prove that the long-run average probabilities of default they assign to their clients, which will be used as the basis for regulatory…
Book extract > Introduction to the Basel II Handbook: A Guide for Financial Practitioners
In June 1999, the Basel Committee on Banking Supervision made its long-anticipated announcement to introduce a new capital adequacyframework to replace the 1988 Accord. 1
Isda gives cautious welcome to Basel Committee progress report
The International Swaps and Derivatives Association today issued a cautious welcome to the Basel Committee on Banking Supervision’s latest progress report on the state of the new capital adequacy directive, Basel II.
Isda gives cautious welcome to Basel Committee progress report
The International Swaps and Derivatives Association today issued a cautious welcome to the Basel Committee on Banking Supervision’s latest progress report on the state of the new capital adequacy directive, Basel II.
Benchmarking asset correlations
Basel II stipulates that the asset correlation to be used in calibration of obligor risk weights is20%. Here, Alfred Hamerle, Thilo Liebig and Daniel Rösch use a parametric model to empirically obtain asset correlations from a large database of…
Fed's Ferguson defends US position on Basel
The US approach to regulatory capital is "perfectly consistent" with the spirit of the new risk management proposals from the Basel Committee, said Roger Ferguson, vice-chairman of the board of governors of the US Federal Reserve System, this week.
There can be no more Basel delays, warns Bolkestein
The European Union will not meet its CAD 3 implementation targets if the new Basel II capital Accord is hit by further delays, Frits Bolkestein, internal market and taxation commissioner for the European Commission (EC), warned at a conference today.
Benchmarking asset correlations
Basel II stipulates that the asset correlation to be used in calibration of obligor risk weights is 20%. Here, Alfred Hamerle, Thilo Liebig and Daniel Rösch use a parametric model to empirically obtain asset correlations from a large database of…
Basel Committee publishes paper on bank compliance functions
The Basel Committee on Banking Supervision published a consultation paper yesterday outlining basic guidance for banks on the structure and operation of their compliance function, and "sets out banking supervisors' views on compliance in banking…
Caruana: 2006 implementation of Basel II still on target, despite difficulties
Despite recent controversies in the wake of the third Basel II consultative paper (CP3), Jaime Caruana, governor of the Bank of Spain and chairman of the Basel Committee on Banking Supervision, says he believes the new Basel II Accord will be implemented…
Geithner to replace McDonough at New York Fed
Timothy Geithner, currently the director of the Policy Development and Review Department at the International Monetary Fund (IMF) in Washington DC, has been named the next chief executive of the Federal Reserve Bank of New York. He replaces Bill…
Algo to release flagship Basel II-compliant system in January
Canadian risk management systems vendor Algorithmics will release version 4.4 of its Algo Suite flagship product on January 15. Its enterprise-wide risk management system will include all the features necessary for Basel II regulatory capital reporting,…
US SEC to begin work on Basel II rules
The US Securities and Exchange Commission (SEC) will soon issue a set of proposals, consisting of rule amendments and new rules, to create two separate voluntary regulatory frameworks for the supervision of broker-dealers and their affiliates on a…