The Basel Committee has published the latest results of its Basel III monitoring exercise based on data as of December 31, 2011. The purpose of the study is to monitor the implications of the Basel III regulatory framework. According to the report, it follows the publication of the initial results of this monitoring exercise in April. A total of 209 banks participated in the study, 102 internationally active banks with Tier 1 capital of more than €3 billion (known as "Group 1 banks") and 102 Group 2 banks. Of the U.S. banks participating in the study, 13 were Group 1 banks; there were no Group

The Financial Services Authority has publicized a letter to regulated firms advising them of the intended supervisory approach of the Prudential Regulatory Authority and key elements of the framework. The letter is also accompanied by an initial set of Frequently Asked Questions on the transition to the new regulator.

Comptroller of the Currency Thomas J. Curry gave a speech before the Financial Services Roundtable in Washington, D.C. in which he discussed the continuous need for a strong regulatory framework supported by on-site examination. In particular, he argued that although stress testing is a valuable tool that can help distill vast amounts of data into more actionable analysis, it is not a substitute for supervisory boots on the ground. According to Curry, many of the problems that are proving most damaging to large banks involve operational risk. He believes that the system of supervision

Commissioner Bart Chilton made a speech regarding the need for a culture shift conversation (i.e., a shift in focus in our financial sectors) with the government, the private sector and other interested parties with the aim of improving the financial system. Specifically, Chilton asserts that inducements and bonus systems create a poisonous pattern in the financial corporate culture and fail to generate the long-term gains (such as sustainable economic growth or real value to the business, consumers and the country). Chilton argues that compensation systems should be fashioned upon a risk

On September 19th, 2012, the CFTC approved the application of DTCC Data Repository, LLC for provisional registration as a swap data repository pursuant to section 21 of the Commodity Exchange Act and section 49.3(b) of the Commission's regulations. DTCC Data Repository, LLC is the second entity for which the Commission has issued provisional registration as a swap data repository - a category of CFTC registered entities created by the Dodd-Frank Act of 2010 to perform a variety of functions related to the collection and maintenance of swap transaction data and information. Cross-Reference(s)