The Securities Industry and Financial Markets Association’s (SIFMA) Credit Rating Agency Task Force supports the aspects of the Securities and Exchange Commission’s (SEC) proposal on rules relating to nationally recognised statistical rating organisations that allow the continued use of ratings. Deborah Cunningham, co-chair of SIFMA’s Credit Rating Agency Task Force and chief investment officer of Federated Investors, said: “It is important that we guard against embedded over-reliance on ratings in SEC regulations, as well as in investor guidelines, state laws, Basel II, and bilateral contracts. At the same time, we understand and appreciate that the written proposal will, when released, continue to allow reliance on ratings as appropriate in the areas of Rule 2a-7 and net capital rules. Simply stripping ratings out of the rules would not have been helpful. The solution to the credit rating problems is to allow continued appropriate use of ratings, while adding greater transparency to the process and more information for those who use ratings, so that ratings can be more effective risk management and investment tools.”
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