The Basel Committee on Banking Supervision (BCBS) has issued new guidelines on how banks should incorporate management of risks related to money laundering and terrorist financing into their overall risk management framework.
The guidelines apply to all banks, though some smaller or specialised institutions may need to adapt them. They specifically focus on banks, banking groups and banking supervisors.
The BCBS recommends that banks read the guidelines in conjunction with other standards it has produced that promote supervision of banking groups on a consolidated level. They are in-line with the International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation issued by the Financial Action Task Force (FATF) in 2012. The guidelines cross refer to the FATF standards to help banks comply with national requirements based on those standards.
Cash-flow based metrics now feature prominently alongside traditional revenue measures of business performance in the key figures or financial summary pages of any public company.
GTNews asks Pugsley about what advice she would give to treasurers dealing with mergers and acquisitions, what the key challenges for her year ahead will be and how she is selecting a treasury management system (TMS).
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.