RBI revises regulations for forex business The Reserve Bank of India (RBI) has requested banks dealing in foreign exchange (forex) to set up a comprehensive risk management framework that is inclusive of trading and non-trading activities. RBI has also asked the banks to determine limits for business between banks and for global transactions. The central bank is currently reviewing guidelines for the forex business in order to limit and monitor risk-taking activities.
FDIC seeking to limit bonuses The US Federal Deposit Insurance Corporation (FDIC) is proposing a new regulation that may require financial institutions to take into account the business decisions of their executives when deciding on their bonuses. The FDIC is seeking to limit the bonuses earned by major financial institutions by holding them accountable for their companies’ financial performance.
European Parliament appoints first chairperson of EBA The European Parliament has confirmed the appointment Andrea Enria, head of supervisory regulations at Italy’s central bank, as the first chairperson of the European Banking Authority. The appointment is effective on March 1 2011.
Deutsche Bank launches new risk management centre Deutsche Bank has set up a new risk management centre in Berlin, Germany. The centre will be monitoring all important risks faced by the bank, including market, liquidity and credit risk, and will be responsible for providing an early warning against future financial crises.
Re-disseminated by The Asian Banker
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