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Mr Randall S Kroszner, Member of the Board of Governors of the US Federal Reserve System, has made a speech with the above title at the New York Bankers Association Annual Washington Visit, Washington DC. Read the speech.
Nout Wellink, chairman of the Basel Committee on Banking Supervision and President of the Netherlands Bank, overviews the subject.
Read article•Date: 28th June 2007 • Region: World •Type: Article •Topic: Operational risk
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- APRA releases revised Basel II advanced approaches
The Australian Prudential Regulation Authority has released a paper that sets out its responses to submissions on its proposals to implement the advanced approaches under the new Basel II capital adequacy regime http://www.apra.gov.au/ADI/Basel-II-implementation-in-Australia.cfm.
- Recent initiatives by the Basel-based committees and groups
BIS Quarterly Review, part 8, June 2007
http://www.bis.org/publ/qtrpdf/r_qt0706j.pdf
The Australian Prudential Regulation Authority (APRA) has released a discussion paper and draft prudential standard setting out its proposed approach to market disclosure under the new Basel II capital adequacy regime. The approach applies to all locally incorporated authorised deposit-taking institutions in Australia.
The proposals aim to enhance transparency and market discipline in Australian financial markets through high quality and timely market disclosure on the risk management practices and capital adequacy of ADIs. Both the discussion paper and the draft prudential standard are available on APRA's web site at http://www.apra.gov.au/ADI/Basel-II-implementation-in-Australia.cfm
Dr Nout Wellink, president of the Netherlands Bank and chairman of the Basel Committee on Banking Supervision, has made a speech with the above title at the GARP 2007 8th Annual Risk Management Convention and Exhibition. Read the full text at http://www.bis.org/review/r070228a.pdf
The Bank of International Settlements has published a summary of responses to the 2006 follow-up Questionnaire on Basel II implementation. Read the document
The Basel Committee on Banking Supervision has released a paper entitled ‘Observed range of practice in key elements of Advanced Measurement Approaches (AMA)’. The paper describes a cross-section of the practices supervisors have observed in relation to some of the key challenges in the operational risk-related work of banks targeting the AMA. http://www.bis.org/publ/bcbs131.htm
The Australian Prudential Regulation Authority (APRA) has released a paper setting out its response to industry submissions on its proposed approach to the advanced measurement approaches (AMA) to operational risk under the Basel II capital framework. More information
Provide updates on various aspects of the above subjects.
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•Date: 5th October 2006• Region: Various •Type: Article •Topic: Operational risk
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Basel II’s Loss Distribution Approach makes the assumption that all loss events are drawn from the same underlying ‘model’, and can be grouped using ‘Loss Event Types’. This paper by Patrick McConnell challenges these assumptions.
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•Date: 30th June 2006 • Region: World • Type: Article •Topic: Operational risk
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Susan Schmidt Bies, Member of the Board of Governors of the US Federal Reserve System, has used the OpRisk USA 2006 Conference as a platform to speak about the importance of risk management and its relationship to capital. She also explored what goes towards effective operational risk management and offered her observations on some of the challenges of operational-risk quantification. Read the speech at http://www.bis.org/review/r060404e.pdf
Business Process–specific Key operational Risk Indicators are the key to proactive operational risk management, says Jee Meng Chen.
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•Date: 4th April 2006 • Region: SE Asia/World • Type: Article •Topic: Operational risk
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Testimony of Susan Schmidt Bies, Member of the Board of Governors of the US Federal Reserve System, before the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology and the Subcommittee on Financial Institutions and Consumer. http://www.bis.org/review/r050517f.pdf
This paper proposes an approach to evaluating the ‘quality of compliance’ of ORM systems within, and between, firms and is based on the concept of ‘maturity models’. •Date: 20th April 2005 •Region: UK/World •Type: Article •Topic: Operational risk
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The Australian Prudential Regulation Authority has released the first of a series of discussion papers on the implementation of the new Basel II capital adequacy regime in Australia. Read the paper •Date: 12th April 2005 •Region: Australia •Type: Briefing•Topic: Operational risk
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The Australian Prudential Regulation Authority and the Reserve Bank of New Zealand have agreed a Terms of Engagement which establishes high-level principles for the cross-border implementation of Basel II in Australia and New Zealand. More details•Date: 23rd March 2005 •Region: Australia/NZ •Type: Briefing •Topic: Operational risk
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Mr Jaime Caruana, chairman of the Basel Committee on Banking Supervision used the recent Annual General Meeting of the ISDA Barcelona as a platform for providing an update on the progress of Basel II. Read his speech
According to Financial Insights.
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•Date: 8th February 2005 • Region: W.Europe/UK •Type: Article •Topic: Operational risk
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Patrick McConnell explores the existing risk management standards which could form the basis of Basel II ORM programmes.
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•Date: 14th January 2004 •Region: World •Type: Article •Topic: Operational risk
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Expected to reach US$9.2 billion for the 5 years from 2002 to 2006.
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•Date: 26th Nov 2004 • Region: Asia Pacific •Type: Article •Topic: Operational risk
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APRA sets out timetable for banks’ compliance.
Tailors the Basel II Accord for the ‘specific features of the EU market’.
G10 central bank governors and heads of supervision endorse the revised capital framework.
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•Date: 30th June 2004 • Region: Various •Type: Article •Topic: Operational risk
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Equal interpretation by country regulators is vital to the success of Basel II.
Ms Kishori J Udeshi, deputy governor of the Reserve Bank of India, used a recent conference to explore the implications of Basel II for Indian banks.
Consensus achieved! The full text of the new framework will be published at the end of June 2004.
The real priority is to focus on response to Pillars 2 and 3.
Jaime Caruana, chairman of the Basel Committee on Banking Supervision, used GARP’s recent 5th Annual Risk Management Convention as a platform to provide an update on the latest Basel II situation.
Principles for the home-host recognition of AMA operational risk capital published.
‘Think Y2K information availability challenge with added confidentiality and integrity requirements.’
The Basel Committee on Banking Supervision has issued a summary of the current state of play with Basel II.
The Federal Reserve has issued a consultation document to gain industry response to changes to the proposed treatment of expected and unexpected losses under the new Basel Capital Accord.
Jaime Caruana, chairman of the Basel Committee on Banking Supervision, has used a speech at the Seventh Annual Supervision Conference of The British Bankers Association to look ahead to what the committee may focus upon once the Basel II Accord is complete.
Between 10th-11th October 2003, the members of the Basel Committee on Banking Supervision met in Madrid to decide on responses to public comments received on the New Basel Capital Accord.
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•Date: 14th October 2003 •Region: Worldwide •Type: Article •Topic: Op.risk
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Jaime Caruana has mapped out his vision of the way ahead for the Basel II Accord.
Jaime Caruana says that he was more concerned with getting the Basel Accord right than with meeting the committee's self-imposed deadline of end-2003.
Comments are due by 31st July 2003 and will assist the committee as it makes the final modifications to its proposal for a new capital adequacy framework.
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•Date: 30th April 2003 •Region:Worldwide •Type: Article •Topic: Op risk
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