BASEL COMMITTEE: CORPORATE GOVERNANCE

October 11, 2010 at 9:11 pm | Posted in Economics, Financial, Research | Leave a comment

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Basel Committee on Banking Supervision

Basel Committee issues principles for enhancing

corporate governance

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Mon 10/04/10

The Basel Committee on Banking Supervision today issued a set of principles for enhancing sound corporate governance practices at banking organisations.

The Principles for enhancing corporate governance address fundamental deficiencies in bank corporate governance that became apparent during the financial crisis. The principles were first issued for consultation in March 2010. Comments received were highly supportive of the Committee’s proposed corporate governance guidance.

The principles cover:

· the role of the board, which includes approving and overseeing the implementation of the bank’s risk strategy, taking account of the bank’s long-term financial interests and safety;

· the board’s qualifications. For example, the board should have adequate knowledge and experience relevant to each of the material financial activities the bank intends to pursue to enable effective governance and oversight of the bank;

· the importance of a risk management function (including a chief risk officer or equivalent for large banks and internationally active banks), a compliance function and an internal audit function, each with sufficient authority, stature, independence, resources and access to the board;

· the need to identify, monitor and manage risks on an ongoing firm-wide and individual entity basis. This should be based on risk management systems and internal control infrastructures that are appropriate for the external risk landscape and the bank’s risk profile; and

· the board’s active oversight of the compensation system’s design and operation, including careful alignment of employee compensation with prudent risk-taking, consistent with the Financial Stability Board’s principles.

The principles also stress the importance of the board and senior management having a clear knowledge and understanding of the bank’s operational structure and risks. This includes risks arising from special purpose entities or related structures.

Supervisors also have a critical role in ensuring that banks practice good corporate governance. In line with the Committee’s principles, supervisors should establish guidance or rules requiring banks to have robust corporate governance strategies, policies and procedures. Commensurate with a bank’s size, complexity, structure and risk profile, supervisors should regularly evaluate the bank’s corporate governance policies and practices as well as its implementation of the Committee’s principles.

The need for sound corporate governance improvements has also been observed in other financial sectors. That is why, in developing the principles issued today, the Basel Committee coordinated its work with the International Association of Insurance Supervisors (IAIS), which is currently reviewing its Insurance Core Principles to address corporate governance for the insurance sector. The Basel Committee and the IAIS seek to collaborate on monitoring the sound implementation of their respective principles.

About the Basel Committee

The Basel Committee on Banking Supervision provides a forum for regular cooperation on banking supervisory matters. It seeks to promote and strengthen supervisory and risk management practices globally. The Committee comprises representatives from Argentina, Australia, Belgium, Brazil, Canada, China, France, Germany, Hong Kong SAR, India, Indonesia, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The Committee’s Secretariat is based at the Bank for International Settlements in Basel, Switzerland.

Communications,
Bank for International Settlements

E-mail: press@bis.org

Website: www.bis.org

Phone: +41 61 280 8188

Bank for International Settlements (BIS)

Basel Committee on Banking Supervision

Basel Committee issues principles for enhancing corporate governance

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Mon 10/04/10

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BANK FOR INTERNATIONAL SETTLEMENTS “BIS REVIEW NO. 129”: INDIA ECONOMIC BALANCE

October 11, 2010 at 8:13 pm | Posted in Asia, Economics, Financial, Globalization, History, India, Research | Leave a comment

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BIS Review

Bank for International Settlements

BIS Review No 129 available

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Fri 10/08/10

Please find BIS Review No 129 attached as an Adobe Acrobat (PDF) file. Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 129 (8 October 2010)

Miguel Fernández Ordóñez: The state of Spain’s economy

Choongsoo Kim: Challenges to the further advance of the Asian economy following the global financial crisis

Tiff Macklem: Reflections on monetary policy after the Great Recession

Subir Gokarn: Managing the growth-inflation balance in India – current considerations and long-term perspectives

Muhammad bin Ibrahim: Financial services industry – opportunities and challenges for Asia and Europe

Ignazio Visco: Rebalancing trade and capital flows

e-mail press@bis.org

BIS Review

Bank for International Settlements

BIS Review No 129 available

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

http://www.bis.org/review/index.htm

Fri 10/08/10

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BANK FOR INTERNATIONAL SETTLEMENTS “BIS REVIEW NO. 128”: BERNANKE ON FISCAL RULES

October 11, 2010 at 2:47 pm | Posted in Economics, Financial, Globalization, History, Research, USA | Leave a comment

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BIS Review

Bank for International Settlements

BIS Review No 128 available

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Thu 10/07/10

Please find BIS Review No 128 attached as an Adobe Acrobat (PDF) file. Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 128 (7 October 2010)

Ben S Bernanke: Fiscal sustainability and fiscal rules

Muhammad Al-Jasser: Review of the latest economic developments in Saudi Arabia

Mira Erić-Jović: Compulsory insurance, damage compensation and security over receivables

Tukiya Kankasa-Mabula: Stakeholder’s workshop on the draft Bank of Zambia Act

Brian P Sack: Managing the Federal Reserve’s balance sheet

Stephen G Cecchetti: Financial reform – a progress report

e-mail press@bis.org

BIS Review

Bank for International Settlements

BIS Review No 128 available

http://www.bis.org/review/index.htm

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Thu 10/07/10

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CLIMATE CHANGE AND HEALTH ECONOMICS

October 11, 2010 at 8:42 am | Posted in Earth, Ecology, Economics, Globalization, History, Research, World-system | Leave a comment

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Osaka University‘s Institute of Social Economic Research

(ISER)

ISER Discussion Paper No. 785

Climate Change, Economic Growth, and Health

Masako Ikefuji, Jan R. Magnus and Hiroaki Sakamoto

August 2010

http://www.iser.osaka-u.ac.jp/eng/dp-e.html

Osaka University Institute of Social
and Economic Research Association

ISER Discussion Paper

International Economic Review
Osaka University Institute of Social
and Economic Research Association
6-1 Mihogaoka, Ibaraki
Osaka 567-0047, JAPAN

Email: ier@iser.osaka-u.ac.jp
Fax: +81 6-6879-8575
Phone: +81 6-6879-8574

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