Risk Management APAC update


Risk Management, 21 January 2009
Basel Committee announces enhancements to Basel II
The Basel Committee on Banking Supervision has issued a package of consultative documents to strengthen the Basel II capital framework. The proposed changes to capital requirements cover trading book exposures, including complex and illiquid credit products; certain complex securitisations in the banking book; and exposures to off-balance sheet vehicles (ie asset-backed commercial paper conduits).
National Bankshares names new chief financial officer
US-based National Bankshares announced the appointment of David K Skeens as treasurer and chief financial officer. Skeens will continue to serve as senior vice president of Operations and Risk Management at the community bank subsidiary, National Bank. China busts 40 illegal banks in five months More than 40 major illegal private banks were uncovered in a five-month joint operation between the Ministry of Public Security, the People's Bank of China and the State Administration of Foreign Exchange, in eastern Fujian and Jiangxi provinces and southern Guangdong Province, from July to November 2008. The ministry said the illegal operations involved RMB100 billion ($14.6 billion). Indonesia market watchdog to get new powersThe Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) in Indonesia is drafting an amendment to the capital market law to have stronger powers to probe fraud. This will include an ability to file civil proceedings, on behalf of investors, against a company allegedly committing a crime in the capital market. The agency also needs new authority to access bank accounts related to alleged crimes committed by securities houses and investment managers, without permission of the police or central bank or other authorities.

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