Category: Banking Operations
The Libor effect on derivatives
The UK Court of Appeal is this week hearing two cases in an attempt to determine whether the Libor rate rigging scandal can be considered to be sufficient grounds for invalidating derivatives contracts. In the first of the cases Barclays attempts to overturn a previous judgement which would see it having to defend in court […]
Banking Reform Bill Amendment on Payments and Securities Settlements
On 8th October the Financial Services (Banking Reform) Bill heads to the House of Lords for further consideration by their Lordships. Having listened to numerous opinions the Government has tabled more than 80 amendments which it proposes to add to The Bill. One such amendment relates to payments and securities settlements. This amendment, set out […]
Technologies required to improve (ORM) Operational Risk Management
Thompson Reuters published an interesting report available on Risklibrary.net discussing the specific technologies required for firms to improve their ORM processes, including ORM platforms, policy and procedure management, regulatory change management, and real-time risk intelligence. Defining ORM scope Operational risk is defined as “the risk of loss resulting from inadequate or failed internal processes, people and […]
International Payments Market Trends Overview
Warning over clearing-contagion risks At the recent Sibos conference in Dubai, delegates raised concerns over the risks associated with the collapse of a major clearing house. The general sentiment expressed was that international regulators had yet to get to grips with the potential domino effect should a clearing house fail. Catalyst consultant, Christian Lee, summed […]
AmBank recognised as one of Asia’s outstanding companies for corporate governance
According to the Sun Daily, AmBank Group was named “Asia’s Outstanding Company” at the recent Ninth Corporate Governance Asia Recognition Awards 2013 held in Manila, the Philippines. Corporate Governance Asia is a Hong Kong-based quarterly journal featuring news and analysis on corporate governance issues, boardroom performance and shareholder activism. “We are honoured to be recognised […]
JPMorgan agreed to pay $920M to Settle London Whale Probes
By Bloomberg.com JP Morgan agreed to pay $920 million in penalties and admitted violating securities laws last year as top managers withheld information from the board. Senior executives had evidence by late April 2012 that traders in the chief investment office in London were pricing a derivatives portfolio in a way that reduced reported losses, […]
The scope and structure of Transaction Banking
Transaction Banking function differs from bank to bank, so what is the ideal structure of a transaction banking unit and how one define its function ? Follow this interesting discussion on the scope and challenges of transaction banking worldwide. “Transaction banking mainly operates behind the scenes and caters to treasury functions. In the broadest definition, […]
Strengthening AML regulations across the world
Money Laundering laws strengthened in Bahrain Money Laundering regulations in Bahrain have been strengthened following the signing of a Royal Decree by Sheikh Hamad bin Isa Al Khalifa. In an amendment to the Money Laundering and Counter Terrorism regulations, security services have been given extended powers to co-ordinate with other countries in cracking down on […]
Proposals for regulations in shadow banking and new standards for multi-listed securities
FSB proposals on shadow banking The Financial Stability Board (FSB) has published proposals to strengthen the oversight and regulation of shadow banking. The proposals follow on from the 2011 G20 summit in Cannes at which the G20 leaders agreed to take steps to mitigate the risks posed by “that part of the financial system that […]
Operational risk and regulation
Impact of Basel III and Dodd-Frank Act A survey conducted by Chartis Research has revealed that capital adequacy requirements linked to Basel III and the Dodd-Frank Act are expected to be leading sources of regulatory and operational risk management pressures in the immediate future. The survey which took opinions from financial organisations across the globe […]