Also: AML breaches at Danske and Santander; Russia’s Radiotechbank scammed. Data by ORX News
Shareholder alleges board and senior execs breached fiduciary duties by failing to oversee risk
Brokers say there are signs pressure is easing, but quantum hacking threat could transform market
The authors summarise ways that machine learning can help categorize textual descriptions of operational loss events into Basel II event types.
Also: FTX hacked; Aussie banks schooled for credit insurance mis-sales; more on Glencore. Data by ORX News
The author investigates the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and its most prominent cases, as well as detailing examples of operational risk events that the commission did not cover.
Punitive charge was imposed in 2018 in wake of inquiry into bank’s practices
Vendors deemed to suffer most in fallout from “paused” blockchain settlement project
Proposed legislation addresses many of the issues that led to FTX’s failure, Behnam tells Congress
Also: Binance blockchain hack; ING’s Polish AML fail. Data by ORX News
RWAs rise a combined €4.8 billion at the two banks
Revision in substitutability category inflates mid-sized banks’ score, lowers G-Sibs’
US regulators also preparing more guidance on concentration risk for outsourcing providers
The bank unwound hedges that safeguarded its buyback of mis-sold US notes
FSB working group chair advocates common reporting framework and taxonomy
Only Canada, Japan and Saudi Arabia ready for full implementation as January deadline approaches
Also: Wintermute suffers crypto hack; CS settles over Archegos and Greensill. Data by ORX News
Changes to required capital for credit risk expected to be main driver behind average reduction
Supervisors have provided less stress-testing guidance for op risk than for credit risk
Proposed infrastructure add-on could make blockchain settlement and payment systems non-viable
Output floor could account for almost half the increase in Tier 1 capital requirements by 2028
How does the pandemic change operational risk? Evidence from textual risk disclosures in financial reports
The authors investigate changes in operational risk profiles of the financial industry following the Covid-19 pandemic.
This paper introduces existing and novel epidemiology models and investigates how government responses to the Covid-19 pandemic impacted these models.
Also: Citi stumbles on market abuse; Jefferies faces latest fine over phone misuse. Data by ORX News