This week's risk management news includes Citigroup chief executive’s comments on risk taking, Central Bank of Nigeria’s increasing risk based supervision, and World Bank calling for increased national anti-corruption action.
September 28, 2011 | The Asian Banker Editor
Benchmark portfolio should be used as a tool against excessive risk-taking
Citigroup chief executive Vikram Pandit has said that to protect the international financial system, regulators should rely more on a benchmark portfolio as a tool to guard against excessive risk-taking, rather than the capital standards now in use.
CBN acts to strengthen risk based supervision in banking
As part measures to stop reoccurrence of banking crisis in the country, Central Bank of Nigeria has finalized arrangement to release an updated risk based supervision guidelines for banks, targeted at strengthening risk based supervision in the banking industry.
World Bank says national anti-corruption authorities need to step up
The World Bank’s anti-graft unit says many countries aren’t following through with investigations of corrupt conduct discovered by bank officials. The integrity vice presidency referred 40 cases to governments and anti-corruption agencies for investigation in fiscal 2011, and 32 cases the year before, but the response has been underwhelming.
Re-disseminated by The Asian Banker
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Risk And Regulation Working GroupKeywords:Citigroup, CBN, World Bank
