EBA stress test:=?UTF-8?Q?=20Santander=E2=80=99s=20sovere?= ign swaps exposure not disclosed

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Risk.net Regulation News Update 13 October 2011 This Week's Top Story EBA stress test: Santander's sovereign swaps exposure not disclosed Banco de España chose not to report Santander's sovereign derivatives exposure to the EBA because it was 'not material' Categories: Derivatives, Regulation Topics: European Banking Authority, Santander, Banco de España, Counterparty credit risk, Sovereign counterparty ... Mobile RSS Managing Counterparty Risk in Volatile Markets New York, 8 & 9 November 2011 - London, 15 & 16 November 2011 Managing Counterparty Risk in Volatile Markets New York, 8 & 9 November 2011 - London, 15 & 16 November 2011 More of this week's news SEC charges former UCB executives with misleading investors SEC charges former UCB executives with failing to disclose losses that led to the bank crashing in 2009 Basel Committee's Sigor to undertake review of operational risk regulatory framework Wide-ranging review seeks to raise operational risk capital and overhaul the basic indicator and standardised approaches FSB: risk managers should advise on compensation FSB remuneration guidelines suggest all firms should have risk management executives on compensation committee FSB warns members not to misinterpret G-20 commitments The FSB warns that some regulations appear to be contrary to the spirit of the OTC derivatives reforms agreed by G-20 members – a statement some believe was prompted by a disagreement over the scope... Australian banks still face liquidity challenges, FSB peer review finds A Financial Stability Board peer review finds the Australian financial system remains strong but banks face Basel III liquidity and wholesale funding challenges Regulators failing to take the lead on operational risk, says new survey Few regulators are taking operational risk seriously, says Mike Finlay, chief executive of RiskBusiness EBA stress test: €3.4 billion error in BPCE's derivatives exposure to France Owner of Natixis overstated derivatives exposure to France by €3.4 billion after mixing up notional and mark-to-market numbers New York sues BNY Mellon for foreign exchange fraud Federal authorities in New York have filed two separate suits accusing BNY Mellon of foreign exchange fraud, following cases brought by other states Non-execs do not understand consequences of Solvency II reporting, FSA warns Head of prudential insurance policy also warns of potential widespread ignorance of Solvency II among analysts Former hedge fund manager settles charges in Galleon insider-trading case Former hedge fund manager Steven Fortuna will pay $300,000 to settle charges in the Galleon Management insider-trading case Bank pension schemes compromised by Vickers report The UK's Independent Commission on Banking proposals could have unintended consequences for financial services pension schemes BlackRock: More reforms needed for ETFs, beyond just transparency Statement is beginning of "a series of recommendations" from BlackRock on ETF market, says iShares head of sales Related news this week from other categories Energy Risk Europe: eurozone sovereign debt fears could exacerbate oil supply problems, says Currie Fears that the sovereign debt crisis will lead to global financial shock is causing oil producers to reduce inventory and cut back investment – creating a potential supply problem in future, warns Goldman... US banks at a disadvantage in face of Volcker rule Non-US banks will have an advantage over US counterparts when it comes to prop trading, according to one legal expert Video: Banks can arbitrage central bank liquidity provision A conflict between new liquidity regulations under Basel III and existing central bank operations leaves a gap that banks may be able to exploit, warns financial stability expert   Related publications: Risk magazine, Operational Risk & Regulation, Life & Pension Risk, Central Banking Related categories: Risk Management, Investment

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