Basel Committee
HKMA finalises policy on ECAIs for Basel II
The Hong Kong Monetary Authority (HKMA) has released its policy paper on the recognition of External Credit Assessment Institutions (ECAIs). The HKMA has assessed a number of ECAIs that may be recognised for the standardised approach for the calculation…
Convergence and harmonisation is key to the success of Solvency II, according to panellists at public hearing
Harmonisation and convergence were the main themes that marked a public hearing at the European Commission (EC) on Solvency II yesterday. The panel, which included industry stakeholders, consumer groups, members of the European Commission and the…
Aussies Rule
Australia is racing ahead with Basel II implementation compared with other nations. Peter Madigan asks how they have done it and whether the rest of the world can follow in their footsteps
Solvency II will lead to risk-adequate pricing and benefit insurers, according to study
A study by the global insurance company Swiss Re has found that Solvency II will reinforce risk-adequate pricing and that insurers will be rewarded for using risk mitigation tools. According to the report, Solvency II will lead to a better picture of an…
QIS5 results released
The Bank for International Settlements (BIS) has released the results of the fifth Quantitative Impact Study (QIS5). The new study, which reflected all recent changes to the Basel II framework, shows that the minimum capital requirements would decrease…
UK FSA publishes implementation bulletin for the CRD
The Financial Services Authority (FSA) in the UK has published issue three of its Capital Requirements Directive (CRD) implementation bulletin for investment firms, banks and building societies.
Japan’s FSA amends Basel II implementation guidelines
The Financial Services Agency (FSA) in Japan has amended guidelines for the implementation of Pillar II of the Basel Accord. The guidelines for its early warning system framework were revised to clarify and further emphasise the Agency’s approach to…
CEBS seeks comments on stress testing
The Committee of European Banking Supervisors (CEBS) has begun a consultation on technical guidance for stress testing under the Capital Requirements Directive (CRD). CP12 will aim to provide additional technical guidance to regulators, and complements…
Wachovia selects Reveleus to ensure Basel II compliance
A Tier I bank obligated to implement Basel II in the US has selected Reveleus to compute regulatory capital for the advanced internal ratings-based approach under the revised Accord. Wachovia, the fourth-largest bank in the US, has announced that it will…
US senator voices concerns over Basel II in senate committee hearing
Senator Tim Johnson (Democrat, South Dakota) slammed aspects of Basel II in a US Senate committee on banking, housing and urban affairs yesterday for its regulatory burden on banks and claimed that the revised accord would stymie US competitiveness.
Caruana to join the IMF
Jaime Caruana, the current chairman of the Basel Committee on Banking Supervision (BCBS) and the governor of the Bank of Spain, has been appointed by the International Monetary Fund (IMF) as counsellor and director of the new financial, capital and…
Risk 's Derivatives and Risk Management Summit Europe 2006: Regulators and ratings prevent meaningful Basel II savings
Banks may be unable to benefit from regulatory capital reductions under the Basel II reforms because of local rules and the requirements of rating agencies.
QIS5 results reflect similar results to QIS4, says Comptroller of the Currency
US Comptroller of the Currency John Dugan said the “results between QIS4 and QIS5 are more similar than they would first appear” at a dinner held last night at the offices of JP Morgan Chase in London.
VAR provides inadequate figures, according to CRO
Value-at-risk provides inherently flawed results, according to Kenneth Winston, the global chief risk officer of Morgan Stanley.
Risk 's Derivatives and Risk Management Summit Europe 2006: Regulators and ratings prevent meaningful Basel II savings
Banks may be unable to benefit from regulatory capital reductions under the Basel II reforms because of local rules and the requirements of rating agencies.
Sponsor’s article > Pan-European Credit Data Consortium Case Study: Credit Data Pooling by Banks for Banks
Institutions seeking to apply the internal ratings-based (IRB) approach under Basel II are required to provide accurate estimates of their credit risks. However, most banks do not have enough internal data on default and recovery to calculate reliable…
Basel Committee issues principles on home-host information sharing The Basel Committee on Banking Supervision (BCBS) has issued a paper on general principles for information-sharing between home and host supervisors for Basel II.
The two relevant principles are that a bank will be held accountable by its home supervisor (principle two) yet subsidiary banks may have to meet specific needs of its host country.
Core and satellite for hedge funds, part II
academic paper
Aussies Rule
BASEL II
Briefs
REGULATORY UPDATE
Finding the middle ground
Regulator Q&A: Elemer Tertak
Rethinking Ratings
Credit ratings