Federal Deposit Insurance Corporation (FDIC)
Regulatory fines moved into legal risk definition
According to a source close to the Basel Committee on Banking Supervision, the concept of legal risk will be explicitly broadened in the final version of the Basel II document, due out at the end of June – to include fines, penalties and punitive damages…
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.
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.
The A-IRB approach must be changed, says FDIC study
Risk-based capital requirements for banks under Basel II would fall below the levels needed for current prompt corrective action (PCA) purposes, according to a new study by the Federal Deposit Insurance Corporation (FDIC).
Banks get set to prepare feisty responses to the US ANPR
NEW YORK - US banks are going to hit back hard at the country's regulatory agencies in their responses to the advance notice of proposed rulemaking (ANPR).
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.
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.
Sarbanes-Oxley requirements could complement Basel compliance
NEW YORK - Banks and financial institutions currently establishing processes to comply with Sarbanes-Oxley section 404 reporting requirements should be able to use those same processes to comply with future Basel II operational risk reporting…
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.
US FDIC produces second Basel analysis paper
The US's Federal Deposit Insurance Corporation has published its second study of the Basel Accord revisions, titled Risk-based capital requirements for commercial lending: the impact of Basel II .
Debate and controversy mark Op Risk 2003 events
Delegates at the fifth annual Operational Risk and Risk magazine operational risk conferences in London and New York this March were treated to what one speaker described as a "smorgasboard" of discussions on the subject. Attendees could choose from…
US Treasury department creates new financial institutions policy office
A new office that will focus on legislative and policy matters related to the financial services sector — including commercial banks, investment banks, insurance companies, credit unions and savings and loans — was announced yesterday by the US Treasury.
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.
FDIC plans series of Basel papers
The US-based Federal Deposit Insurance Corporation (FDIC) has announced plans to issue a series of papers over the coming months that will analyse the impact that the revisions to the Basel II Accord will have on the US banking system.
Basel II will have profound effect on US banks, says regulator
ORLANDO, FLORIDA - The Basel II capital accord will have profound implications for risk management techniques and capital management in the larger US banks, a leading US banking regulator said in late October.
US agency forms working group on Basel II’s third pillar
A working group of financial services industry members and regulators is being formed by the US Federal Deposit Insurance Corporation (FDIC) to recommend a four-point disclosure policy for the third pillar of the Basel II bank Accord.
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…