Climate protection and sustainable business practices have risen significantly on the agenda of bank boards. This partly has to do with the onset of the COVID-19 pandemic. It has become all too readily apparent just how rapidly - and... Read More
I recently saw a headline in the Financial Times that said some big banks think that shifting out of LIBOR may cost more than Brexit. I am sure that headline caused a collective gasp in some corners of the United Kingdom.It is hard to... Read More
I’m a fan of James Bond films and can think of at least three films that included scenes on a train. There’s something high-stakes and action-filled about trains on the move.I see some parallels between moving trains and the... Read More
At the end of 2017, the German federal financial supervisory authority (BaFin) released a circular providing details about its requirements for IT security and processes at German credit institutions. Called BAIT, or Bankaufsichtliche... Read More
In June 2016, the Financial Accounting Standards Board (FASB) issued a new accounting standard to replace the “incurred loss” impairment methodology with the Current Expected Credit Loss (CECL) model, marking a significant... Read More
Since the financial crisis of 2008, banks have faced increasing regulatory scrutiny and a growing number of rules to follow. For many mid-sized banks, regulatory compliance is a costly and complex web to manage.Enter reg-tech, a range of... Read More
In 2016, Germany received 40 percent more reports of suspected money laundering than the year before, the highest increase in 15 years, according to officials. The newly established Financial Intelligence Unit (FIU), which is now... Read More