Basel Banking Supervision Committee Priorities for 2015-2016

Wednesday, February 25, 2015

The Basel Committee on Banking Supervision has announced its planned areas of focus for 2015 and 2016 as it continues to propose and finalize the remaining elements of its Basel III regulatory reform agenda. The Committee will continue to pursue its post-crisis reform agenda, but will now look toward restoring confidence in capital ratios, ensuring consistency across the regulatory framework, monitoring and assessing the implementation of the framework, and improving the overall effectiveness of supervision. 

CSMFE Submits Comments on FSB Data Collection Proposals

Aircraft pilots cannot monitor risks based solely on altitude; neither can market supervisors.

Thursday, February 12, 2015

CSFME has submitted a comment letter identifying additional metrics the Center feels are necessary to properly assess the risk of collateral fire sales associated with securities lending transactions.  In particular, CSFME asserts that the FSB and sovereign regulators must expand the data initiative beyond position aggregates, to include risk mitigation resources as well as termination activity.

Fed Remains Concerned About Firesale Risks

Asset Management Industry Still a Source of Worry

Wednesday, February 11, 2015

In a January 30, 2015 address, Federal Reserve Board Governor Daniel K. Tarullo once again voiced the Fed's concerns about the systemic risk posed by potential firesales in the asset management industry. Tarullo indicated that as regulators implement reforms under the Basel and FSB proposals and frameworks, they should take into account the “system-wide demands on liquidity during stress periods and correlated risks among asset managers that could exacerbate liquidity, redemption and fire-sale pressures." In his address, Mr. Tarullo noted the rapid growth of the asset management industry  since the financial crisis, both in terms of the dollar amount of assets under management and in the concentration of assets managed by the largest firms. As stricter prudential regulation makes investment in certain forms of assets more costly for banks, this growth is expected to continue apace.

JP Morgan is First to Settle Forex Anti-trust Suit

Wednesday, February 04, 2015

JPMorgan Chase & Co has agreed to pay $100 million to settle a U.S. antitrust lawsuit in which investors accused it and 11 other major banks of rigging prices in the $5 trillion-per-day foreign exchange market. Investors sued the 12 banks alleging that traders at each conspired to rig foreign currency exchange transactions to boost profit at the expense of bank customers and investors.  The settlement must still be approved by the court, and this settlement is separate from the roughly $1.01 billion JP Morgan has agreed to pay to resolve probes by U.S. and European regulators. 

SEC Announces February 19 Proxy Roundtable

Tuesday, January 27, 2015

Today, the Securities and Exchange Commission announced that it will hold a February 19 public roundtable discussion on improving the proxy voting process. The roundtable, which will be held at the SEC’s Washington, DC headquarters, will focus on universal proxy ballots and retail participation in the proxy process.
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