4229 Results from /regulation
Retired Member
Having at least one thing in common with Nouriel Roubini, a premonition of the impending financial callapse, although I didn't wake up until after his talk, I think it's important to re-examine his warnings. Nouriel warned during an address to the IMF in November 2006 about an impending financial collapse, which was disregarded by many. He now war...
18 August 2008 /regulation Whatever...
Richard Barr Principal Associate at Citadel Advantage Ltd.
Banks are focusing inward in their quest to comply with Basel II operational risk requirements. This is of course critical if the banks are to achieve an acceptable level of success in its compliance. However, by focusing solely inward, the role that external parties play may inadvertently be overlooked, and is a serious concern. One of those key ...
13 August 2008 /payments /regulation
Stanley Epstein Associate at Citadel Advantage Group
I have been watching unfolding events in the banking world with a sense of incredulity and rising trepidation. It's like watching a train crash in slow motion. It just seems like it is one debacle after another. First we had the sub-prime meltdown which hit us last summer. All that followed by the SocGen saga, which only served to stress that both ...
13 August 2008 /regulation Innovation in Financial Services
I just arrived home after a week in Hong Kong. Two unrelated events happened while I was there. The start of the Olympics and the Asian markets patting themselves on the back for not being in the top 20 bank list of sub-prime losers. It seems to me that by touting to the world that you're not the biggest loser in the world in connection to this mar...
11 August 2008 /regulation
Every major financial crisis has generated significant change in how the Capital Markets industry operates. Examples include: • Mandatory trading halts introduced after the crash of 1987 to prevent the U.S. equity markets from ever again going into an unrestrained freefall. • Research Services removed from industry participants’ revenue model
07 August 2008 /regulation
Years ago when I first became involved in risk management in a large regional bank I was told to keep my nose out of the “business”. And what did “business” mean? Well, simply put – making a profit at any cost! The key issue that was (and still is) missed completely is that business strategy and risk management are closely linked. If you follow a s...
03 August 2008 /regulation Operational Risk Management
Why is it that the minute something goes wrong someone or something has to be blamed? It almost seems that as long as a "guilty" party can be found then we have done our duty and can simply forget about the problem ... until the next time. This is currently the case in point in the brouhaha in the United States around the perceived failur...
31 July 2008 /regulation /wholesale
Italian securities depository Monte Titoli has hit back at implications that it is being difficult and hindering new upstarts that are trying to enter the Italian market. Turquoise CEO Edi Lederman said in a note to members that the Italian securities depository "will not allocate resources" to cooperate with its own clearing provider Eur...
30 July 2008 /regulation
Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
It is amusing to see how the banking industry is snorting in relief that Citi Bank declared a 2Q 08 loss of 'only' $ 2.5 Billion. Things have come to such a pass that a bank like IndyMac going under has only elicited marginal interest. Just as social scientists declare '40 is the new 30', the banking gurus seem to say 'Billion is the new million'...
20 July 2008 /regulation /retail
I imagine there's a bit of fund juggling going on at banks across America. Given that only the first $100k is covered by federal deposit insurance it would be wise to spread your cash across a number of financial institutions to maintain insurance coverage in the event of a collapse of an individual institution. Australia is not immune to the rec...
15 July 2008 /regulation /retail Whatever...
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