Pub Date : 2004-02-01DOI: 10.1108/09657960410514643
Sheenagh Gordon‐Hart
Basel 2 has been the subject of intense debate amongst bankers around the world. It will replace the original Basel Accord of 1988, but unlike the latter it looks as if the new Accord will undermine the global consensus. It is a costly exercise and the heightened risk of regulatory arbitrage may yet distort the competitive landscape. In particular, the completely different ways in which Basel 2 will be implemented in the USA and EU pose a challenge for institutions that operate on a global scale. This article is a brief examination of the key differences and challenges posed by the draft Accord – the prospects for a “final” draft being truly final seem remote and Basel 3 may well have to be on the agenda before the ink is dry on Basel 2.
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Pub Date : 2004-02-01DOI: 10.1108/09657960410514670
A. Wilson, Jefferson P. Jones
Special purpose entities, generally known as SPEs, have been the bane of everyone in the risk management and the asset management business. But they can also be extremely useful. Now, post‐Enron, further rules have been put into place to ensure that SPEs are clearly identifiable and their purpose can be transparent. The author examines how these new rules will work and assesses the likelihood of success.
{"title":"New accounting guidance for variable interest entities: will the new rules reduce the risk?","authors":"A. Wilson, Jefferson P. Jones","doi":"10.1108/09657960410514670","DOIUrl":"https://doi.org/10.1108/09657960410514670","url":null,"abstract":"Special purpose entities, generally known as SPEs, have been the bane of everyone in the risk management and the asset management business. But they can also be extremely useful. Now, post‐Enron, further rules have been put into place to ensure that SPEs are clearly identifiable and their purpose can be transparent. The author examines how these new rules will work and assesses the likelihood of success.","PeriodicalId":299727,"journal":{"name":"Balance Sheet","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130432448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2004-02-01DOI: 10.1108/BS.2004.26512AAA.001
R. Bruce
{"title":"The changing world of risk management in financial services","authors":"R. Bruce","doi":"10.1108/BS.2004.26512AAA.001","DOIUrl":"https://doi.org/10.1108/BS.2004.26512AAA.001","url":null,"abstract":"","PeriodicalId":299727,"journal":{"name":"Balance Sheet","volume":"112 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123097699","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2003-12-01DOI: 10.1108/09657960310502494
D. Damant
David Damant, one of the leading thinkers in the investment analysis world, shows how the proposed new income statement will change the world of financial reporting, leading to clarification, fair values and a much simpler system by emphasizing cash flow.
{"title":"The revolution ahead in financial reporting: a new world – what the income statement means to financial reporting","authors":"D. Damant","doi":"10.1108/09657960310502494","DOIUrl":"https://doi.org/10.1108/09657960310502494","url":null,"abstract":"David Damant, one of the leading thinkers in the investment analysis world, shows how the proposed new income statement will change the world of financial reporting, leading to clarification, fair values and a much simpler system by emphasizing cash flow.","PeriodicalId":299727,"journal":{"name":"Balance Sheet","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126734008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2003-12-01DOI: 10.1108/09657960310698696
G. Phillips, J. Dawson
The growth of the use of hedge funds in both the USA and in Europe has led to greater attempts to regulate the market. The authors provide a guide to the way regulations are likely to be imposed and the differences which may occur in the USA and European markets as a result.
{"title":"The regulation and distribution of hedge funds in Europe – changes and challenges","authors":"G. Phillips, J. Dawson","doi":"10.1108/09657960310698696","DOIUrl":"https://doi.org/10.1108/09657960310698696","url":null,"abstract":"The growth of the use of hedge funds in both the USA and in Europe has led to greater attempts to regulate the market. The authors provide a guide to the way regulations are likely to be imposed and the differences which may occur in the USA and European markets as a result.","PeriodicalId":299727,"journal":{"name":"Balance Sheet","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114851154","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2003-12-01DOI: 10.1108/09657960310502502
R. Barker
Problems in financial reporting are often blamed on the rules. In trying to outlaw the system of “smoothing” which covered up many sins the rule‐makers have been accused of simply making figures more volatile and less understandable. The author looks at the idea of performance measurement based on the simplicity of a single income statement and explains how it will transform financial reporting.
{"title":"The revolution ahead in financial reporting: reporting financial performance","authors":"R. Barker","doi":"10.1108/09657960310502502","DOIUrl":"https://doi.org/10.1108/09657960310502502","url":null,"abstract":"Problems in financial reporting are often blamed on the rules. In trying to outlaw the system of “smoothing” which covered up many sins the rule‐makers have been accused of simply making figures more volatile and less understandable. The author looks at the idea of performance measurement based on the simplicity of a single income statement and explains how it will transform financial reporting.","PeriodicalId":299727,"journal":{"name":"Balance Sheet","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133052270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2003-12-01DOI: 10.1108/09657960310502548
Yen Yee Chong
In this extract from his new book, Handling Investment Risk, the author examines operational risk and, with case studies ranging across Nigerian fraud, the split capital trusts scandal, Chase Manhattan in Russia and Deutsche Morgan Grenfell in 1996, shows how to deal with all the issues involved.
在他的新书《处理投资风险》(Handling Investment Risk)中的这段摘录中，作者考察了操作风险，并通过对尼日利亚欺诈、资本信托分离丑闻、俄罗斯大通曼哈顿银行(Chase Manhattan)和1996年德意志摩根格伦费尔银行(Deutsche Morgan Grenfell)等案例的研究，展示了如何处理所有相关问题。
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Pub Date : 2003-12-01DOI: 10.1108/09657960310502539
R. Hudson
The forthcoming revision of the Basel Accord will cause major changes in the capital incentives driving banks’ management decisions. The author briefly outlines the main proposals then considers the impact from the point of view of a bank treasurer. The discussion leads him to question whether all of the possible consequences are as desirable as they might appear.
{"title":"Dealing with Basel II: Basel II – the end of risk management?","authors":"R. Hudson","doi":"10.1108/09657960310502539","DOIUrl":"https://doi.org/10.1108/09657960310502539","url":null,"abstract":"The forthcoming revision of the Basel Accord will cause major changes in the capital incentives driving banks’ management decisions. The author briefly outlines the main proposals then considers the impact from the point of view of a bank treasurer. The discussion leads him to question whether all of the possible consequences are as desirable as they might appear.","PeriodicalId":299727,"journal":{"name":"Balance Sheet","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129294166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2003-12-01DOI: 10.1108/09657960310502511
D. Syer
The latest consultation paper from the Basel Committee on Banking Supervision makes some changes to its regulatory proposals for operational risk management – the risk of losses resulting from inadequate or failed internal processes, people or systems and external events. The author discusses the implications of these changes.
巴塞尔银行监管委员会(Basel Committee on Banking Supervision)最新的咨询文件对其有关操作风险管理的监管建议进行了一些修改。操作风险管理指的是内部流程、人员或系统以及外部事件不充分或失败导致损失的风险。作者讨论了这些变化的含义。
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Pub Date : 2003-12-01DOI: 10.1108/09657960310502520
T. Garside, J. Bech
International regulators are due to finalize the New Basel Capital Accord by the end of 2003, for implementation by banks at the end of 2006. Basel II is a response to the need for reform of the regulatory system governing the global banking industry. In this article, we review the New Basel Capital Accord and summarize some of the main implications that we expect it to have on the European banking industry. As was the case for the first Basel Accord (Basel I), we conclude that not only will the new accord have an impact on the amount of book capital that banks are required to hold, but also on the strategic landscape of the banking industry.
国际监管机构应在2003年底前敲定《新巴塞尔资本协议》(New Basel Capital Accord)，并在2006年底由银行实施。巴塞尔协议II是对全球银行业监管体系改革需求的回应。在本文中，我们回顾了新巴塞尔资本协议，并总结了我们预计它对欧洲银行业的一些主要影响。正如第一个巴塞尔协议(巴塞尔协议I)的情况一样，我们得出的结论是，新协议不仅会对银行要求持有的账面资本数量产生影响，而且会对银行业的战略格局产生影响。
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