Why would culture at the New York FED be unique?

It began with APRA’s Wayne Byres two weeks ago. His speech highlighted the importance of culture. It concludes as follows: “An increasing proportion of supervisory attention is therefore being directed to making assessments of organisational culture. The international community of supervisors is still grappling with how best to do this, and how to respond when a… Read More Why would culture at the New York FED be unique?

Bank of America, nothing complex, it’s noblesse oblige!

What surprised me this week about the capital calculation cock-up of Bank of America Meryll Linch were the reactions of the press. The financial press responded to this gaffe by highlighting the difficulties of calculating capital. Reuters, for example wrote: “The announcement illustrates how difficult it is to determine appropriate capital levels for the biggest banks.” Capital… Read More Bank of America, nothing complex, it’s noblesse oblige!

Federal Reserve Board approves final rule for foreign banks & large U.S. banks

From the FED’s web-site: “The Federal Reserve Board on Tuesday approved a final rule strengthening supervision and regulation of large U.S. bank holding companies and foreign banking organizations. The final rule establishes a number of enhanced prudential standards for large U.S. bank holding companies and foreign banking organizations to help increase the resiliency of their… Read More Federal Reserve Board approves final rule for foreign banks & large U.S. banks