Artikelen

In this document, the Basel Committee on Banking Supervision (“the Committee”) provides responses to interpretive issues regarding the Revisions to the Basel II market risk framework (“the Revisions”) and the Guidelines for computing capital for incremental risk in the trading book (“the IRC Guidelines”).

Toezicht op strategie en gedrag, verankering van nieuwe toezichtraamwerken, beter risicomanagement en scherper zicht op en achter de cijfers vormen de speerpunten van het DNB toezicht in 2011.

Ensuring that remuneration is effectively aligned with risk and performance is an essential element for reducing incentives that may arise from the design of remuneration schemes and that can lead to excessive risk taking. In practice, the idea that an employee's compensation should take account of the risks that employees take on behalf of their organisation has proven to be challenging to implement. The report focuses on the practical and technical issues that might reduce the effectiveness of these methods. It also covers more general questions, including proportionality in the application of rules.

The recent financial crisis left many markets dead or mortally wounded. This article examines whether securitisations, a capital markets victim of the crisis, have disappeared, or have appeared from the smoke of disaster in a more robust form.

Financial institutions are under greater pressure to manage a variety of risk areas, particularly liquidity. They need to seek and leverage multiple risk management perspectives for better self-regulation and real-time management of all sources of intraday funding and the entire spectrum of liquid assets.

Today, securitisation is the funding and risk transfer method of choice for an increasing number of issuers and the largest growing contribution to the global capital markets. Though the securitisation transaction as it is known today was made popular in the US, non-US transactions are becoming an increasing share of the overall securitisation market. Securitisation may be of interest to any large corporate that owns suitable financial assets, be it a pool of debts or discrete revenue streams.

A company's capacity to create value depends on the risks it is willing to take at strategic and operational level and its ability to manage those risks effectively. Consequently, few aspects of corporate governance are currently more important than the ability to identify and manage risk promptly. The point here is not to eliminate all risk - because that would simultaneously eliminate all chance of reward. But board members do need to focus increasingly on ensuring that the risk management systems in place at their company not only work effectively but are also intelligently networked.

In the early years of this decade, private securities firms transformed the loan origination process in the US mortgage market by issuing securities backed by pools of nonprime (that is, less than prime and subprime) mortgages. It is impossible to understand what transpired in the nonprime mortgage markets without examining the operation of the capital markets in the issuance of such mortgage-backed securities (MBS).

The economic events of the past 18 months have dramatically changed companies' awareness of the nature and extent of business risk. Companies are now painfully aware that numbers don't tell the whole story. As a result, in July 2009, the US Securities and Exchange Commission (SEC) proposed for public companies new rules that would require disclosure of the board of directors' role in managing risk (citing credit risk, liquidity risk, and operational risk). Other proposals would require public companies to establish board-level risk management committees.