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Risk Management News Updates, November 10th 2010
This week's risk management news includes FDIC's approval of the initial plan for the quarterly fee change, the arrest of a bank staff in Moldova involved in online fraud, and EU's support for dark pool regulation

November 10, 2010 | Aditya Puri

FDIC approves initial plan for deposit formula change
The Federal Deposit Insurance Corporation has approved an initial plan to change the formula of the quarterly fees banks pay to the regulator. The proposal seeks to change the formula which currently charges fees based on banks' total domestic deposits to one which is based on a banks' total assets. The move is expected to favour the smaller banks as banks with $10 billion or more in assets would pay 80% of the total insurance fees.

Moldova arrests bank staff involved in online fraud
Moldovan authorities have arrested six people, one of whom worked for the Bank of Moldova, for their involvment in the withdrawal of money from fictitious bank accounts. A government ministry official is also accused of providing the gang with copies of ID cards that enabled them to open bank accounts in the online fraud that involved around $200 million.

EU backs dark pool regulation
The European Parliament's economics committee backs a report calling for tougher regulation of dark pools and high-frequency trading in a bid to reduce systemic risk, increase available information, and improve market competition.


Re-disseminated by The Asian Banker

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Categories: Risk And Regulation Working Group
Keywords: FDIC, Bank Of Moldova,