This week's risk management news includes Thai banks’ flood cash floats, EU banks liquidity shortfall, and MAS reprimanding OCBC for a systems outage.
November 02, 2011 | The Asian Banker Editor
Thai banks release lifeboats to stem effects of flood
Commercial banks in Thailand have increased their levels of available short-term cash in anticipation of a potential spike in customer withdrawals due to flooding that is affecting 61 of the country's 71 provinces, including its capital city, Bangkok. Thus far the city's banking system appears to have functioned without disruption.
EU banks face $148 billion shortfall
European Union leaders have ordered banks to increase the ratio of “highest quality” capital they hold by the end of June, creating a shortfall of 106 billion euros ($148 billion). Of Europe's 28 largest lenders, only eight will need to raise a total of 11 billion euros from investors.
MAS chides OCBC for systems failure
The Monetary Authority of Singapore has reprimanded OCBC Bank for the failure of its online and branch banking services on Sept 13, stating that the bank "did not implement sufficient measures to address single point of failure in its system and network infrastructure".
Re-disseminated by The Asian Banker
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Risk And Regulation Working GroupKeywords:Thailand, EU, MAS, OCBC
