Новости

Citi Calls for Basel III Caution, Reform

Citigroup, one of the largest banks in the nation and the world, is calling for Washington to tread slowly on the Basel III rules for capital reserves at financial companies, before the rules constrict access to credit and regulators drive banks to distraction with different interpretations of the new standards.

IFRS Taxonomy updated for Investment Entities

The IFRS Foundation has published the International Financial Reporting Standards (IFRS)
Taxonomy 2012 interim release for Investment Entities. 

Russian bankers want differentiated approach to regulation of large and small banks

In the Concept under consideration, its authors raise a question on adoption of differentiated approach to supervision in the Russian banking system. According to financial experts, the Central Bank of Russia has to impose more severe requirements on large “too big to fail” banks and softer ones – on small players, financial stability of which imposes no threats to the whole banking sector.

US regulators imposing more severe requirements on foreign bankers

American regulators are getting ready to significantly change rules of the game for foreign banks operating in the USA. Foreign banks will have to re-register all of their operations as performed by American legal entities, and the latter will have to follow standard US rules for capital adequacy.

IASB proposes limited changes to IFRS 9 classification and measurement requirements

The proposals form part of a wider project to reform accounting for financial instruments, and are part of the Classification and Measurement phase of that project.

FASB issues proposal to clarify scope of disclosures that apply to balance sheet offsetting of assets and liabilities

The Financial Accounting Standards Board (FASB) today issued for public comment a proposed Accounting Standards Update - Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities - that would clarify the scope of transactions that are subject to the disclosures about offsetting. Stakeholders are asked to review and provide comment on the proposal by December 21, 2012.

FFMS trying to put an end to insurance fraud

The Federal Financial Markets Service is intensifying supervision over the insurance market. During the last nine months it has already performed more than 14 thousand field inspections, which is 11% more than last year’s results. However, this may still be not enough to keep insurance companies’ clients safe. 

Years of imprisonment for falsified accountancy is a sure thing

Criminal liability for bankers caught on falsification of their banks’ financial accountancy is very likely to become real in the nearest future. The draft bill, originally prepared by the Ministry of Finance, was successfully agreed upon by all financial ministries.

Greece receives its financial aid and softer further requirements

This Monday financial ministers of the Eurozone and the International Monetary Fund reached an agreement on what to do next with Greece. After 12 hours of negotiations international creditors approved a new program to decrease Greece’s debt by 40 billion euro.

SEC chairman Mary Schapiro to step down next month

Chairman Schapiro, who became chairman in the wake of the financial crisis in January 2009, strengthened, reformed, and revitalized the agency. She oversaw a more rigorous enforcement and examination program, and shaped new rules by which Wall Street must play.