News

Results of the EU-wide stress test for Banks

26 October 2014

Just before the European Central Bank (ECB) takes over the regulation of the 123 big banks in Europe on November 4th, the European Banking Authority (EBA) publishes the results of the EU-wide stress test. The purpose of the stress test is to test how healthy banks are, how is the resilience of the EU-banks at adverse economic developments. The EU-wide stress test is coordinated by the EBA and carried out in cooperation with the European Central Bank (ECB), the European Systemic Risk Board (ESRB), the European Commission (EC) and the Competent Authorities (CAs) from all relevant national jurisdictions. Continue reading…

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ECB : banks need to take further action

26 October 2014

The European Central Bank (ECB)  published the results of a thorough year-long examination of the resilience and positions of the 130 largest banks in the euro area as of 31 December 2013. The comprehensive assessment—which consisted of the asset quality review (AQR) and a forward-looking stress test of the banks—found a capital shortfall of €25 billion at 25 banks. Twelve of the 25 banks have already covered their capital shortfall by increasing their capital by €15 billion in 2014. Banks with shortfalls must prepare capital plans within two weeks of the announcement of the results. The banks will have up to nine months to cover the capital shortfall.

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Why greater transparency may be the key to reducing risk and increasing efficiencies as payments get faster

13 October 2014

by Simon Wicks

The drive to deliver faster payments processing across multiple global markets, coupled with the need to increase efficiencies and reduce costs, has become the Holy Grail for many banks keen to ensure they effectively meet client needs and retain their competitive position. However, balancing these desires with the technical challenges and emerging risks in a 24/7 world, can prove extremely difficult.

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In Belgium, hybrid fraud detection helps recover billions in tax fraud

13 October 2014

by Jérôme Bryssinck

The agency responsible for combating carousel fraud in Belgium is the Special Tax Inspectorate (ISI), a division of Belgium’s Federal Public Service Finance. Yannic Hulot, ISI Director, recently explained how carousel fraud has been nearly eradicated in Belgium – and how a similar system could be implemented across Europe to get rid of VAT carousel fraud in the broader region.

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A personal view about meeting regulatory expectations

10 October 2014

by Melvyn Morrison

Nico Zwikker is the former Head of Compliance at the ABN Amro Group. He started his career as a lawyer at the Amsterdam Bar and went on to the banking industry where he has been active during the past 25 years. Zwikker has previously also held a number of senior positions, including working as a lawyer and as a risk manager. His extensive experience in compliance, reputation and regulatory risk management encompasses a wide range of business risk profiles. During the course of his career, Nico has embarked on a stakeholder management approach in dealing with regulators (including national regulators and a significant number of foreign regulators), and he is fully conversant with the fast-evolving regulatory banking and securities landscape.

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Fraud: The rise of renewed criminality?

10 October 2014

by Melvyn Morrison

Gino Thielemans has been focusing on cybercrime during the past twelve years as Head of Prudential IT Supervision at the National Bank of Belgium. Before joining the National Bank, Thielemans was an IT auditor at the CBFA. He also previously worked at the CERA Bank as Head of Internal Audit for financial markets, accounting, tax and logistics, and at KPMG as an external bank auditor.

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