Banking: Sector locks the stable door after the horse has bolted

In the maelstrom of the financial upheaval, banks suffered a battering not just to their balance sheets but to reputations. The mix of accusations – of excessive risk-taking, inflated rewards and poor controls – added to government bail-out billions and hostile public opinion forced banks to take decisive action. Read the rest of this post »

June 21, 2010   Posted in: Banking, General News, Management  No Comments

Euro risk overstimated, ECB should do more

The markets are exaggerating the euro zone’s risks, but the European Central Bank needs to do more to show its commitment to financial stability, Fitch’s head of sovereign ratings said on Saturday. “We think the concerns about fiscal solvency, with the exception of Greece, in Europe are overplayed,” David Riley told a panel on sovereign debt at the St Petersburg Economic Forum. Read the rest of this post »

June 21, 2010   Posted in: Finance  No Comments

FSA Scrapped, Bank Stress, UBS Accounts: Compliance

U.K. Chancellor of the Exchequer George Osborne said he will abolish the Financial Services Authority and give most of its power to the Bank of England, undoing the regulatory system set up by Gordon Brown in 1997, which Osborne blamed for failing to prevent the financial crisis that plunged the nation into recession. Read the rest of this post »

June 21, 2010   Posted in: Banking, Finance, Regulation and compliance  No Comments

NDIC slams universal banking, says inherent risks were not considered

Nigeria Deposit Insurance Corporation (NDIC), at the weekend, slammed the universal banking system, saying that its introduction was not followed by serious thoughts of the risks inherent in the operations of financial supermarkets and the need to mitigate them appropriately. Read the rest of this post »

June 21, 2010   Posted in: Banking, Management  No Comments

Funds struggle for control in China

While there has been no let-up in the steady stream of western investment companies queuing to launch in China, firms considering the move have been warned that doing business in the country is far from simple. Read the rest of this post »

June 21, 2010   Posted in: Finance, Market, Trends  No Comments

Future of Risk Management in Indian Banking Industry

The Indian Economy is booming on the back of strong economic policies and a healthy regulatory regime. The effects of this are far-reaching and have the potential to ultimately achieve the high growth rates that the country is yearning for. The banking system lies at the nucleus of a country’s development robust reforms are needed in India’s case to fulfill that. Read the rest of this post »

June 21, 2010   Posted in: Banking, General News  No Comments

Best risk management practices with bankers stressed

IFC, a member of the World Bank Group, is helping members of Bangladesh’s financial sector better manage risks by sharing industry best practices on risk management and non-performing loans. Read the rest of this post »

June 21, 2010   Posted in: Regulation and compliance, Trends  No Comments

Fund managers focus on collateral

Until recently, the risk of a counterparty failure was close to the last thing on fund managers’ minds. Instead, the complex investment risks in managing derivatives exposures were a far higher priority. That is now changing, as managers focus on what and how much they take as collateral, and how they manage it. Read the rest of this post »

June 21, 2010   Posted in: Finance, Management, Market  No Comments

Banks Have Billions at Stake as Rulemaking Heads to Agencies

While Congress puts finishing touches on its financial-regulatory overhaul, Wall Street lobbyists are preparing for a new battle out of the public spotlight and inside nearly a dozen federal agencies. Read the rest of this post »

June 21, 2010   Posted in: Banking, Market, Regulation and compliance  No Comments

Most big banks not even paying lip service to risk-based pay

Last October the Federal Reserve issued proposed guidance to banks on the structure of bank pay. The reason for the guidance was the need for banks to change pay so it would no longer encourage the excessive risk taking that led to the financial crisis. Read the rest of this post »

June 21, 2010   Posted in: Banking  No Comments