The International Swaps and Derivatives Association (ISDA), the Institute of International Finance (IIF), the London Investment Banking Association (LIBA) and the Bond Market Association (BMA) met with a group of banking and securities regulators in New York to discuss the consultative document issued jointly by the Basel Committee on Banking Supervision and the International Organization of Securities Commissions (IOSCO) on the application of Basel II to trading activities and the treatment of double default effects. Overall, the associations are pleased with the proposals put forward in the field of counterparty credit risk and thanked the regulators for the openness and co-operation with which they have sought to work with the industry. The high degree of engagement with the industry has been most pronounced on Strand 1 (counterparty credit risk), and to a lesser extent, Strand 2 (double default risk) of the review. The dialogue on the complex Strand 3 (trading book issues and unsettled transactions), by contrast, has suffered the most from time constraints and has thus benefited the least from the thorough discussion that the subjects would merit. The proposed changes in this area are substantial and need further discussion. The formal consultation phase is therefore a critical step, which the associations hope will produce much needed changes to the package.
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