|
-------- Original Message --------
| Subject:
|
BIS: New Global Standards Bank Stress Tests |
| Date:
|
Wed, 20 May 2009 09:11:01 -0700 |
| From:
|
"Stephen M. Apatow"
<s.m.apatow@humanitarian.net> |
| To:
|
Pascal.Lamy@wto.org, hri@int-bar.org |
Dear
Colleagues:
I would like to thank UN finance ministers in 192 UN member countries
who collaborated on emergency economic contingency measures, with a
focus on unregulated
OTC derivatives exposure, related hyperinflationary spikes in the
commodities
futures market and risk management for the global banking system:
ONDON/ZURICH (Reuters) - Banks will come under heavy
regulatory
pressure to use the first global set of standards for testing whether
they
can withstand big shocks, a top global supervisor said on Wednesday....
The
new principles for banks comprise:
-- tests should identify a wide range of risks and improve capital and
liquidity management;
-- a bank should have
written policies and procedures governing its tests and its operation
documented;
-- tests should feature a range of severities, including events capable
of generating the most damage;
-- a bank should take account of simultaneous pressures in funding and
asset markets and the impact of a reduction in market liquidity;
-- tests should cover complex products such as securitized products and
include their underlying assets;
-- Banks given tougher stress testing methods:
Reuters, 20 May 2009.
These measures are vital for pandemic contingency measures associated
with surveillance, containment and control strategies that could
directly impact world trade and travel during the next 12-24 months.
Related:
Looking
forward
to continued feedback and dialogue,
Stephen M. Apatow
Founder, Director of Research & Development
Humanitarian Resource Institute
Humanitarian University Consortium Graduate Studies
Center for Medicine, Veterinary Medicine & Law
Phone: 203-668-0282
Email: s.m.apatow@humanitarian.net
Internet: www.humanitarian.net
----------------------------------------
Humanitarian Resource Institute
Legal Resource and Assistance Center
The Humanitarian Resource Institute Legal Resource and
Assistance Center provides access
to initiatives that include the Consumer's Guide to Legal Help on the
Internet (American Bar Association - Free Legal Help, Self Help, Legal
Aid), Pro Bono Legal Assistance (United States and International), and
online
tools for legal research.
----------------------------------------
|
