Banking Standards

Watch WSBI cooperation with Financial Action Task Force and the Basel Committee on Banking supervision Video

WSBI cooperation with Financial Action Task Force and the Basel Committee on Banking supervision
Dec 05, 2011
WSBI made proposals to turn the financial inclusion commitment into reality and cooperated with a number of organizations to define a legal and business environment conducive to the development of inclusive financial sectors. 1. For example, concrete steps have been achieved in the context of Anti Money Laundering and Combating the Financing of Terrorism rules. To comply with anti money laundering standards, banks need to know the identity of the customers before opening a bank account. This is the reason why identity card and formal address are required. However, several developing countries cannot rely on a national ID register or an efficient address system. Individuals are then discouraged from accessing the formal financial system. In addition, complying with these standards is in general costly for institutions working with low income clients, making access to finance an unattractive market for financial institutions. WSBI cooperated with the Financial Action Task Force to elaborate a Guidance to comply with anti money laundering standards without compromising financial inclusion. The guidance clarifies the flexibility that the standards offer to conduct effective and appropriate controls. This way money laundering can be prevented without standing in the way of financial inclusion initiatives. 2. To allow the efficient provision of microfinance services, while maintaining high levels of risk prevention, WSBI cooperated with the Basel Committee on Banking ...

Watch Sibos TV - Standards Forum - ISO 20022, Market Practice and Innovation Video

Sibos TV - Standards Forum - ISO 20022, Market Practice and Innovation
Oct 27, 2011
At Sibos 2011 Toronto, James Whittle, Head of Standards, UK Payments Council; and Bernard Lenelle, Senior Vice President Product Management Core Products & Business Strategy, Clearstream Banking; talk about the Standards Forum themes with Kavita Maharaj.

Watch Head of Hong Kong's securities regulator hits back at US warning (08 Jun 2011) Video

Head of Hong Kong's securities regulator hits back at US warning (08 Jun 2011)
Jun 09, 2011
Head of Hong Kong's securities regulator hits back at US warning By Channel NewsAsia's Hong Kong Correspondent Leslie Tang | Posted: 08 June 2011 2051 hrs HONG KONG: After a six year stint as the head of Hong Kong's securities watchdog, it is Martin Wheatley's last day on the job. He is moving on to the UK, to head Britain's new consumer financial products watchdog. A former deputy head of the London Stock Exchange, he has been credited with leading the Securities and Futures Commission in cracking down on market misconduct. In 2009, the SFC secured Hong Kong's first jail sentence for insider trading. It also blocked tycoon Richard Li's attempt to take his company PCCW private, arguing that a shareholder vote had been rigged. On Wednesday, Wheatley hit back at US Treasury Secretary Timothy Geither's warning earlier this week, that other countries should not take advantage of a rise in financial regulatory standards in the US. He said he strongly disagrees with the suggestion that other countries will use regulatory arbitrage to gain business. Mr Wheatley said: "Well, we've been fairly clear with the US. To use a phrase I've grown up with, "people in glass houses should not throw stones". And the US regulatory system has shown itself not best able to withstand the sorts of traumas that we've been through in the last three years. "The banking standards, the rules for capital in Hong Kong and Chinese banks are already much tougher than the US. Our rules on short-selling are ...

Watch Lloyds Banking Group framework Video

Lloyds Banking Group framework
Jul 19, 2011
Wates provides a full and complete range of design, construction, fit-out, technical and support service solutions, delivered to meet and exceed the exacting standards of our Retail Banking Clients. This includes initial feasability studies, conceptual and detailed design development, sustainable interior environments, specialist engineering and technology solutions.

Watch The Beverly Hillbillies: Jed Becomes a Banker - Season 1, Episode 24 (1963) Video

The Beverly Hillbillies: Jed Becomes a Banker - Season 1, Episode 24 (1963)
Dec 28, 2011
thefilmarchive.org DVD: www.amazon.com March 6, 1963 When a rival bank challenges his to a skeet shoot, Mr. Drysdale has no choice but to enlist the sharpshooting skills of Jed by making him a bank vice president. A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities: A central bank circulates money on behalf of a government and acts as its monetary authority by implementing monetary policy, which regulates the money supply. A commercial bank accepts deposits and pools those funds to provide credit, either directly by lending, or indirectly by investing through the capital markets. Within the global financial markets, these institutions connect market participants with capital deficits (borrowers) to market participants with capital surpluses (investors and lenders) by transferring funds from those parties who have surplus funds to invest (financial assets) to those parties who borrow funds to invest in real assets. A savings bank (known as a "building society" in the United Kingdom) is similar to a savings and loan association (S&L). They can either be stockholder owned or mutually owned, in which case they are permitted to only borrow from members of the financial cooperative. The asset structure of savings banks and savings and loan associations is similar, with residential mortgage loans providing the principal assets of the institution's portfolio. Because of the important role ...

Watch Shari'ah Governance in Islamic Finance | Dr Murat Unal, CEO Funds@Work AG Video

Shari'ah Governance in Islamic Finance | Dr Murat Unal, CEO Funds@Work AG
Dec 30, 2011
Institute of Islamic Banking and Insurance (IIBI) is a non-profit organisation that exists to create a wider base of knowledge and understanding of the Islamic financial system and to help the exchange of information between the Islamic and other financial systems through education, workshops, discussions, research and publications directed also towards raising public awareness of the consequences of financial dealings devoid of moral and ethical principles. To find out more about IIBI, visit our website. www.islamic-banking.com http

Watch Indian banking sector not under stress: S&P Video

Indian banking sector not under stress: S&P
Jan 24, 2012
Ritesh Maheshwari, MD and lead analytical manager for the financial services rating practice for S&P Asia, says that the weakness in the Indian banking sector is not as pronounced as the other rating agencies have made it out to be because the sector benefits from being in the Indian economy which still by global standards has strong growth prospects.

Watch Spanish protest at dropping living standards (21May11) Video

Spanish protest at dropping living standards (21May11)
Jun 25, 2011
The Spanish people are protesting on job cuts, cuts to welfare, and bailing out of feckless bankers. Who's the blame for this? The politicians! Recorded from Channel 4 News, 21 May 2011.

Watch Stem Cell Banking: The Perspective of an iPS Donor Family Video

Stem Cell Banking: The Perspective of an iPS Donor Family
Jun 01, 2011
"Your twin daughters have an extremely rare, fatal disease called Niemann Pick Type C and there's nothing you can do for them". Those were the devastating words that Chris Hempel and her husband first heard in 2007. Rather than just give in to this fate, the Hempels are proactively engaging researchers to try to save Addi and Cassi's lives. This journey includes donating skin samples to cell banks so that researchers can create induced pluripotent stem (iPS) cells, a promising technology which may help undercover treatments for their daughters. In this video, Chris Hempel speaks to the CIRM Standards Working Group to present a patient advocate's perspective on the challenges of rare disease research. Hempel was introduced by CIRM Governing Board member, Sherry Lansing.

Watch We must adapt Islamic finance to existing international standards Video

We must adapt Islamic finance to existing international standards
Aug 15, 2011
(Part 3 of 3): The IFSB has to keep the momentum and deal with the ever-changing financial system.

Watch Stop the Presses! Greece can Default and Still Remain in the Euro!! Video

Stop the Presses! Greece can Default and Still Remain in the Euro!!
Feb 21, 2012
Follow us @ twitter.com twitter.com There seems to be a popular presupposition in the mainstream media that a Greek default must also equal an exit from the Eurozone. The reality, however, is that these two scenarios are not one and the same. Greece's position in the Eurozone is dependent on the support of the ECB and its willingness to continue allowing Greek banks to post collateral (like government guaranteed commercial paper) at the ECB in return for fresh loans. This is what the ECB has been doing thus far, indeed it has been criticized for lowering the standards by which it has judged quality collateral, not just from Greece, but from numerous other national banking systems within the euroarea since the outbreak of this crisis. A unilateral default by the Greek government at the current time would force the ECB to realize huge losses on bonds that it has either bought through the secondary market or accepted as collateral by Greek banks. These are sunk costs, and they have nothing to do with whether the ECB should continue to accept collateral from Greek banks in an effort to prevent a banking system collapse in that country. Indeed, if anything, the finances of the Greek banking system and government will be vastly improved post default, making the logic for withdrawing liquidity support to the country's banks one of a strictly penal nature: they would be punishing Greece and sending a very clear message to any other country considering similar steps. In short, we ...

Watch New Accounting Standards - The Schizophrenic Banking System before the Crisis Video

New Accounting Standards - The Schizophrenic Banking System before the Crisis
Apr 20, 2010
St. Louis Fed Economist Speaks about New Accounting Standards - The Schizophrenic Banking System before the Crisis

Watch Scramble for financial markets PART THREE Video

Scramble for financial markets PART THREE
Sep 05, 2011
www.ntv.co.ke We will bring innovation, global standards and enable regional companies go global, that is the promise international banks setting in the country are making to Kenyan companies.In the final part of the Scramble for Financial Services Market series, NTV's Kaara Wainaina speaks to global banks setting up in the country, what they perceive their role in the Kenyan economy to be.

We must adapt Islamic finance to existing international standards
Aug 15, 2011
(Part 2 of 3): Countries have different definitions of Islamic finance - is standardisation on the way to ensure the stability of the system?

Watch GLD Streettracks Gold SPDR Prospectus Video

GLD Streettracks Gold SPDR Prospectus
Sep 30, 2011
www.spdrgoldshares.com The Custodian for the Trust's gold bars is HSBC, a United Kingdom bank with operations in the US. The Trustee of the Trust is Bank of New York Mellon. The sponsor of the Trust is World Gold Trust Services, LLC which is wholly owned by the World Gold Council. The World Gold Council states that it engages in closed door sessions with central banks around the world. WGC further states that "Past involvement includes the reform of the international monetary system, the development of prudent liquidity and capital standards in the global banking system, and the implications of the shift in the world's economic epicentre from west to east." GLD is governed under English Law. From the GLD Prospectus (verbatim in quotes): "The Shares do not entitle their holders to ANY CONVERSION or pre-emptive rights." (emphasis added) "The Shares may only be redeemed by or through an Authorized Participant and ONLY IN BASKETS" (emphasis added). So what is a Basket? GLD Prospectus states: "(a block of 100000 Shares is a Basket)". For investors who think they can redeem their GLD shares for gold, not going to happen unless you have 100000 shares of GLD; and even if a Shareholder owns a Basket the Prospectus states the Shares do not entitle the holders to "any conversion". "Upon termination of the Trust, the Trustee will...SELL THE TRUST'S GOLD BARS and...distribute the proceeds to Shareholders". (emphasis added) The Trust can be terminated for numerous reasons, including ...

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