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IASB letter to ESMA - Banks Warned on Write-Downs for Greek Debt

Following media reports of a letter from the IASB to ESMA on 4 August 2011, the IASB has decided to make available the letter regarding the accounting for Greek government bonds.

Clueless banks happy to drift in sea of inexactitude

Do the world’s leading banks have a firm grip of the true value of their assets, their true exposure to risk (including the likelihood of their borrowers defaulting) and their own true capital strength? And if they do have such information at their fingertips, are they accurately communicating it into the public domain for the benefit of regulators and shareholders?

Such questions ought really to be top-of-mind for any politician or regulator who is seeking to re-regulate the banking sector in the wake of the global financial crisis. They are also questions which—depending on the answers—might cast doubt on the legitimacy of the results of the recent European Union “stress tests” designed to confirm the capital strength of 91 European banks and their ability to survive another downturn.

Market Risk: Solving for Basel II and IFRS7 with SIAG

coins madridMarket (Price) Risk - Abstracting the Liquidity Component

Market Risk is different. Liquidity Risk is different even further. Conceptually they are in bed together, although Liquidity risk has risen up the food chain recently as the impregnability of the banking book has been seen to be a chimera as the tide of the crisis went out. One thing is for certain these are the two biggest headaches from Bishopsgate to the Barbican. The Liquidity risk story is well documented here so this blog has a focus on the Market Risk (Price) problem and how to solve it for its two currently key variables – Basel II and IFRS7.

The New Banking Transparency is inevitably DIY UPDATE

 

I would go straight to pdf on this stream of conciousness waffling piece of drivel from some years ago ... (sic) .....before I hit the whisky ....... while its printing you can enjoy this view of an RAF Tornado on excercise over Loch Sunart ... & yes this is the one that includes the geeky bit about product hierarchy modelling @ the end ... & the 'Banking Transparency 101' insert too; - enjoy!

 

 

 

The New Banking Transparency is inevitably DIY

 

Sunday, 25 October 2009

 

 

Financial Instruments: Replacement of IAS 39

Financial Instruments: Replacement of IAS 39

Royal Bank of Scotland - What Happens Next?!

RBS priceWe already posted a reference to a presentation by the CFO of UBS at the Bank of America/Merrill Lynch (BASML) banking conference last week. I was alerted to the availability of the RBS one (by Simon Hester) on Finextra here (who BTW slightly over-read or speed-read the presentation in my view, talking about a 6billion sterling technology budget) however the Hester presentation is of real interest, there are some frank confessionals and we see the costs of the APS beautifully elucidated.

FSP FAS 157-e Determining Whether a Market Is Not Active and a Transaction Is Not Distressed.

Yesterday, the US Financial Accounting Standards Board approved three FASB Staff Positions (FSPs) to clarify fair value accounting for financial instruments, particularly in distressed markets. The Board had received 600 comment letters on three proposed FSPs. The letters presented mixed messages from investors, individuals, preparers, regulatory bodies, business associations, and auditors regarding the proposed FSPs. An extensive discussion took place before consensuses were reached by FASB to draft and issue final standards:

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