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Risk Management News Updates, January 9th 2013
This week’s risk management news include PBoC’s focus on systemic risks, BSP’s new capitalisation guidelines and OCC’s warning about DDoS attacks against banks.

January 09, 2013 | The Asian Banker Editor

PBoC to focus on controlling systemic risks
People's Bank of China has said that it will focus on controlling systemic risks in China's financial system and seek stable growth in aggregate financing, a measure of funding that includes loans, stock and bond sales. This signals the central bank's growing concern that a surge in non-bank lending over the past two years could lead to defaults, triggering social unrest.

BSP announces new banks capital requirements
Bangko Sentral ng Pilipinas has issued stricter capitalisation guidelines that banks must comply with starting January 2014 to meet Basel III standards. Banks are currently required to hold 10% of their risk-weighted assets in capital. The new guidelines indicate that of this 10%, 7.5% must consist of Tier 1 capital. In addition, 6% out of this 7.5% must be common equity.

OCC warns banks about DDoS attacks
US Office of the Comptroller of the Currency warned financial institutions about a recent wave of Distributed Denial of Service (DDoS) attacks targeting their networks and urged banks to share data about the attacks with one another and have necessary risk management plans to mitigate such attacks.

 

Re-disseminated by The Asian Banker

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Categories: Risk And Regulation Working Group
Keywords: PBoC, BSP, OCC