Risk in the portfolio of large syndicated bank loans declined slightly but remains elevated, according to the Shared National Credit (SNC) Program Review by the Federal Reserve Board (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Continue reading…

Reviews of Shared National Credit Portfolio Find Risk Remains High Underwriting and Risk Management Practices Continue to Improve
Risk in the portfolio of large syndicated bank loans declined slightly but remains elevated, according to the Shared National Credit (SNC) Program Review released today by the Federal Reserve Board (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Continue reading…

The Financial Conduct Authority (FCA) has today (31/7) published the outcome of its review into high-cost credit, which includes its assessment of the effectiveness of the payday loan price cap.
Continue reading…

LIBOR, or more precisely the London Interbank Offered Rate, has been given many column inches over the past ten years. Before the financial crisis, most people hadn’t heard of LIBOR, even though it is a key part of the functioning of financial markets. It grew up so to speak with the eurocurrency markets, and like a number of things that came to be a focus of attention in the financial crisis, before then it was largely taken for granted, part of the financial landscape.
Continue reading…

The Office of the Comptroller of the Currency announced today that William A. Rowe has been named its Chief Risk Officer, effective immediately. Mr. Rowe fills the position vacated by Linda Cunningham in April 2017 when she retired.
Continue reading…

The Bangko Sentral ng Pilipinas (BSP) reminded yesterday banks and financial institutions on managing operational risks through stricter internal controls as well as rotation of employees. BSP Deputy Governor Chuchi Fonacier said banks should comply with Circular 900 issued in 2016 pertaining to the guidelines on operational risk management.
Continue reading…

The Financial Conduct Authority (FCA) has launched a consultation regarding the government-proposed Office for Professional Body AML Supervision (OPBAS). The consultation sets out draft expectations about how professional body supervisors can meet their obligations in relation to AML supervision.

Continue reading…

Five federal financial regulatory agencies today announced that they are coordinating their respective reviews of the treatment of certain foreign funds under section 619 of the Dodd-Frank Act, commonly known as the Volcker Rule, and the agencies’ implementing regulations.

Continue reading…

The Financial Conduct Authority (FCA) has published on 17 July the Terms of Reference for the Investment Platforms Market Study, which sets out the scope and topics that will be covered.

Continue reading…

David Kemp contributes to business development in EMEA for Hewlett  Packard Enterprise Software. By profession he is a Solicitor of the Supreme Court of England and Wales.  After external counsel experience, he spent ten years in Insurance Broking in London before joining ABN Amro Bank in 1990. With nineteen years there as a corporate banker and in-house counsel & compliance officer, he joined Hewlett Packard Enterprise (HPE) effectively in March 2010. Currently he is using his experience to advance the GDPR programme of HPE, amongst other facilities.