What's So Special About Regulatory Compliance Projects?
Regulations are an ever growing feature of modern day banking arena. The phenomenon of regulatory compliance, though is not new, has renewed implications for these financial institutions by fundamentally altering the way business is conducted. Yet, the new wave regulatory reforms are far from completion. It is evident that one of the critical success factors for a bank is its ability to achieve compliance on time. The implementation of such regulatory projects is accompanied
ICE LIBOR ROADMAP – Building Market Credibility!
ICE Benchmark Administration (IBA) published LIBOR Roadmap following extensive consultation with various key stakeholders for the $350 trillion benchmark. Keeping up with the strategic direction set by Financial Stability Board (FSB), the focus of the administrator has been to base LIBOR in transactions to the greatest extent possible. In line with this, the IBA aims to overhaul the submission rate determination framework using a “Waterfall Methodology” where the rate will b
LIBOR, EURIBOR & TIBOR: Taking Stock Half-A-Decade Later
It is not surprising that the ripples created by financial benchmark manipulations from a half-decade ago are felt even today in the form of convictions, appeals, fines and more importantly tighter regulations and oversight. The steps taken by regulatory bodies across geographies to restore the investor confidence is palpable with the emergence of distinct determination methodologies for major benchmark rates such as LIBOR, EURIBOR and TIBOR for instance. The impetus being, a
