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Risk Management News Updates, January 23rd 2013
This week’s risk management news include CBRC tightening WMP regulation, departure of US SEC’s enforcement chief and RBI addressing banks’ counterparty risk.

January 23, 2013 | The Asian Banker Editor

CBRC tightens WMP regulation
China Banking Regulatory Commission has banned Chinese banks from selling wealth management products (WMPs) without authorisation and warned them to strictly supervise the design, sale and investment of their respective WMPs as it seeks to curb risks from banks’ off-balance-sheet businesses.

US SEC enforcement chief Robert Khuzami to leave agency
US Securities and Exchange Commission (SEC) enforcement director Robert Khuzami, who has been credited with rebuilding SEC’s tarnished image after the Bernard Madoff scandal and the financial crisis, will depart the agency at the end of the month. Khuzami follows former SEC chairman Mary Schapiro and other high profile officials who have stepped down since president Barack Obama’s re-election.

RBI addresses banks’ counterparty risk
Reserve Bank of India has proposed changes to banks’ capital adequacy norms with regard to their exposure in derivative instruments. Under the proposed guidelines, banks’ exposure to central counterparty, a clearing house, arising from OTC derivatives, exchange traded derivatives and securities financing transactions will be subjected to capital requirements for counterparty credit risk.

 

Re-disseminated by The Asian Banker

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Categories: Risk And Regulation Working Group
Keywords: CBRC, SEC, RBI