A new report from TowerGroup recommends that U.S. banks should follow a series of initial steps to comply with the Basel II Capital Accord prior to full regulatory rules being released in order to remain competitive. According to the report, entitled ‘What Do We Do Now? A Basel II Voter’s Guide For Undecided Banks’, banks are faced a difficult dilemma: whether to wait for explicit regulatory rules and risk losing competitive ground or to plunge ahead with expensive compliance preparation without knowing exactly what regulators will require. The report asserts that taking action now would help banks to advance their lead-time preparation without committing prematurely to large technology investments. “For banks to achieve the optimal benefit from investments in Basel II, they must demonstrate across the organization the strategic value of linking the information needs of corporate compliance with those of the separate business lines.” The report added that banks that approach Basel II either as another compliance obligation – or as merely a fast track to lower capital reserve requirements – will misinterpret the strategic value of Basel II and very likely waste much of their technology investment.
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