Responding to the numerous concerns voiced in the United States about the forthcoming implementation of Basel 2, Moody’s has emphasized that the initiative will be ‘a net positive for the banking industry’. ‘Notwithstanding the current controversies, we believe that ultimately the U.S. will adopt Basel 2 and that most of the largest U.S. banks will comply with it,’ said the ratings agency. Senior Vice President, David Fanger, commented: ‘The regulatory philosophy in the United States already closely follows the Pillar 2 framework that the accord prescribes.’ He went on to note that the main benefit of Basel 2 would be ‘an improvement in the risk measurement, management and controls at many banks and a bolstering of the risk culture of the US banking industry as a whole.’ A handful of the largest U.S. banks have already made considerable progress down this path according to Moody’s and the rating agency pointed out that many more banks should eventually follow. ‘Even among those U.S. banks that never opt in to Basel 2,’ said Fanger, ‘many will likely still end up adopting at least some of its precepts and practices, either as a competitive response or through the urging of their regulators.’
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more