Will you try to satisfy your microprudential or your macroprudential supervisors today?
What? You want to satisfy both?
It is not that easy. The moment we satisfy the microprudential supervisors, the macroprudential ones worry about the ... stability of the system!
I was... read more
Number 1 (Page 14)
European Systemic Risk Board (ESRB)
Annual Report, 2012
Mario Draghi: I am pleased to present the second Annual Report of the European Systemic Risk Board (ESRB) – the independent body of the European Union (EU) responsible for the macro-prudential oversight of the EU financial system, for which the European Central Bank (ECB) ensures the Secretariat and provides analytical, statistical, logistical and administrative support.
Number 2 (Page 39)
Liquidity coverage ratio disclosure standards
Issued for comment by 14 October 2013
The fundamental role of banks in financial intermediation makes them inherently vulnerable to liquidity risk, of both an institution-specific and market nature.
Financial market developments have increased the complexity of liquidity risk and its management.
During the early “liquidity phase” of the financial crisis that began in 2007, many banks - despite adequate capital levels – still experienced difficulties because they did not manage their liquidity in a prudent manner.
Number 3 (Page 54)
Financial Conglomerates Directive
JC FINAL draft Regulatory Technical Standards
on the consistent application of the calculation methods under Article 6(2) of the Financial Conglomerates Directive under Regulation (EU) No 575/2013 (Capital Requirements Regulation -CRR) and Directive 2013/36/EU.
The CRR/CRD IV texts (the so-called Capital Requirements Regulation - henceforth ‘CRR’- and the so-called Capital Requirements Directive – henceforth ‘CRD’) set out prudential requirements for banks and other financial institutions to apply from 1 January 2014.
Number 4 (Page 58)
Accountability: Protecting Investors, the Public Interest and Prosperity
Jeanette M. Franzel, Board Member
Association of Government Accountants 62nd Annual PDC: Big Challenges, Bigger Thinking, Dallas, TX
“I find this conference's theme of "Big Challenges, Bigger Thinking" to be quite fitting, given the current fiscal pressures and operational challenges facing government entities at the federal, state, and local levels.
Further, investors, businesses, and the public, as a whole, continue to endure financial volatility and economic uncertainties.”
Number 5 (Page 81)
Fraud in the banking sector – causes, concerns and cures
Inaugural address by Dr K C Chakrabarty, Deputy Governor of the Reserve Bank of India, during the National Conference on Financial Fraud organised by ASSOCHAM, New Delhi.
“It is a pleasure to be here this morning to deliver the inaugural address at the National Conference on “Financial Frauds-Risk & Prevention.”
Some may be surprised, but, it is interesting to note that Kautilya, in his famous treatise “Arthashastra” penned down around 300 BC, painted a very graphic detail of what we, in modern times, term as “fraud”.
Kautilya describes forty ways of embezzlement, some of which are: “what is realised earlier is entered later on; what is realised later is entered earlier; what ought to be realised is not realised; what is hard to realise is shown as realised; what is collected is shown as not collected; what has not been collected is shown as collected; what is collected in part is entered as collected in full; what is collected in full is entered as collected in part; what is collected is of one sort, while what is entered is of another sort.”
Number 6 (Page 105)
The Solvency II Directive
Important remarks by the Financial Markets Law Committee por
The FMLC wishes to draw attention to a number of issues that give rise to concern regarding the interpretation of the Solvency II Directive.
Number 7 (Page 114)
Solvency II: Is progress being made by the policymakers?
With EIOPA publishing its report on the long-term guarantee assessment and the Omnibus II trilogue meetings starting up again, are we beginning to see progress on the issues that have been stalling Solvency II?
Number 8 (Page 117)
Global systemically important insurers (G-SIIs)
G-SIIs in alphabetical order as of July 2013
American International Group, Inc.
Assicurazioni Generali S.p.A.
Ping An Insurance (Group) Company of China, Ltd.
Prudential Financial, Inc.
Number 9 (Page 121)
Testimony on “Mitigating Systemic Risk in the Financial Markets through Wall Street Reforms”
by Chair Mary Jo White
U.S. Securities and Exchange Commission, before the United States Senate Committee on Banking, Housing, and Urban Affairs
Chairman Johnson, Ranking Member Crapo, and members of the Committee:
“In particular, you requested that I discuss the Commission’s responsibilities with respect to those aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act” or the “Act”) designed to mitigate systemic risk.”
Number 10 (Page 138)
Governor Sarah Bloom Raskin, at the The Exchequer Club Luncheon, Washington, D.C.
Beyond Capital: The Case for a Harmonized Response to Asset Bubbles
Thank you for inviting me to speak to you this afternoon.
“There has been a flurry of pronouncements lately regarding regulations, rules, and guidance, and today's meeting of the Exchequer Club seems like an opportune moment to pause and offer a perspective that lifts us above the many details.”