Federal Reserve
Basel I will stand the test of time, Says Schmidt Bies
Basel I will remain appropriate for most US banking organisations for years to come, says Susan Schmidt Bies, member of the board of governors of the Federal Reserve System.
QIS 4 results are worrisome, say banking agencies
American federal banking agencies have told Congress of their deep concerns about the results of the fourth Basel II Quantitative Impact Study (QIS4).
Basel IIBetter for everyone?
On June 26, 2004, international banking supervisors agreed in Basel, Switzerland to a new framework that will alter the way many banks calculate their capital requirements. The new Basel Capital Accord is to be phased in during 2007 and is scheduled for…
US regulators release details of Basel II qualification process
US financial regulators - including the Federal Reserve and the Office of the Comptroller of the Currency - have released preliminary details of the qualification process that financial institutions in that country will have to follow to implement the…
American regulators release proposed guidance for IRB systems for retail credit exposures
The Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Office of Thrift Supervision (The Agencies) have proposed guidelines for Internal Ratings-Based Systems for Retail Credit Risk…
Basel II is a bonus for economic stability, says Greenspan
Better management of banking risk and new rules on capital hold the promise of a stronger banking system that will contribute to economic growth, according to US Federal Reserve chairman Alan Greenspan.
US forex committee issues broker points rules
The Foreign Exchange Committee, a US industry association affiliated to the Federal Reserve, last week issued new guidelines on broker ‘points’ – the issue at the heart of last year’s massive Wall Street forex fraud, reports RiskNews’ sister publication…
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
US regulators scorned over "prescriptive" proposal
The financial services industry's reaction to a new proposed statement from US regulators on complex structured finance activities was "somewhere between terrified and scornful", according to one industry association executive. Another industry…
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
Consistency issues must be resolved before Basel II implementation, says Bies
Major US banks have consistency problems that must be resolved before the implementation of Basel II, according to Susan Schmidt Bies, governor of the Federal Reserve Board and chair of the Banking Regulatory and Supervisory Committee.
US agencies seek feedback on structured finance guidelines
Five US federal agencies have issued a statement describing internal controls and risk management procedures designed to help financial institutions identify and address risks associated with complex structured finance activities.
Fed proposes tighter regulation on trust-preferred securities
The US Federal Reserve has proposed a rule to retain trust-preferred securities (TPS) in the tier-one capital of bank holding companies (BHC), but with stricter quantitative limits and clearer qualitative standards.
Fed's Bies focuses guns on enterprise-wide compliance
Financial firms can only truly mitigate legal, reputation and regulatory risk by implementing enterprise-wide compliance programmes, said Federal Reserve Governor Susan Schmidt Bies in a pair of February speeches in New York City and a third speech in…
Fed's Bies focuses guns on enterprise-wide compliance
Financial firms can only truly mitigate legal, reputation and regulatory risk by implementing enterprise-wide compliance programmes, said Federal Reserve Governor Susan Schmidt Bies in a pair of February speeches in New York City and a third speech in…
All change on the BIS op risk team
Three well-known regulatory figures will be changing places over the course of February as various secondment arrangements between the Bank for International Settlements (BIS), the Bank of England (BofE) and the Federal Reserve in the US come to an end.
Quant of the year - Michael Gordy, US Federal Reserve Bank
Credit risk specialist who is highly influential with academics and practitioners alike.
US regulators may change Basel II rules, says Ferguson
The Board of Governors of the Federal Reserve System still has options to change the Basel II rules to allow for national discretion, according to Federal Reserve Board vice-chairman Roger Ferguson. The bifurcated system of Basel II application in the US…
FSA chairman headed for showdown with US regulators
Callum McCarthy, the new chairman of the UK's Financial Services Authority, is to visit the US later this week to meet Roger Ferguson, vice-chairman of the Federal Reserve.
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.
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…
Regulator outlines AMA issues for US banks
In a late-July speech at a Risk Waters Group forum on the US's advance notice of proposed rulemaking, the Federal Reserve's Kirk Odegard described how the US would be implementing the advanced measurement approach for op risk, and outlined regulators'…
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.
Fed seeks public comment on Basel II
The Federal Reserve has issued an interagency advance notice of proposed rulemaking (ANPR) seeking public comment on the implementation of the new Basel Accord in the US.