Monday, June 30, 2014

BIS Sees the Financial System at a Crossroads

BIS's 84th Annual Report Sees Banks Shying from Risk While Asset Managers fill the Gap

Author: David Schwartz J.D. CPA
In their 84th Annual Report, the Bank for International Settlements examines the current state of global financial affairs and highlights some trends it sees emerging in the financial framework.  While noting that the overall financial system has has gained some strength since the crisis, banks remain in a rebuilding phase, concentrating  their business models towards traditional banking. Despite their apparent recovery, BIS warns that banks face lingering balance sheet...
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Friday, April 25, 2014

Switzerland's Say on Pay Law Could Put Swiss Pensions in a Bind

Better Corporate Governance, But at What Price?

Author: David Schwartz J.D. CPA
On March 3, 2013, Swiss citizens voted overwhelmingly to approve the Minder Initiative, giving shareholders far-reaching influence over the executive compensation and corporate governance matters of publicly traded Swiss companies. Though the first corporate elections under the new Swiss say on pay law will not occur until 2015, institutional investors are beginning to worry potential unintended consequences. For instance, the Minder rules require Swiss shareholders to vote on the aggregate...
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Tuesday, April 15, 2014

Controversial OFR Report Yields Some Valuable Findings

What We Don’t Know is as Dangerous as What We Do

Author: David Schwartz J.D. CPA
The September 2013 Office of Financial Research (OFR) report entitled “Asset Management and Financial Stability” attempts to present a critical analysis of how asset management firms and the activities in which they engage can introduce vulnerabilities that could pose, amplify, or transmit threats to financial stability.  The report’s assumptions and conclusions have provoked some very strong responses from members of the asset management industry, commentators, and...
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Monday, April 7, 2014

Virtual bookshelf of Bitcoin ebooks

Book Review: Guides to a moving target

Author: David Schwartz J.D. CPA

In his latest article for the ABA Banking Journal, Virtual Bookshelf of Bitcoin ebooks, CSFME's Executive Director Ed Blount walks us through some of the more useful resources on the Bitcoin phenomenon, from books that look at the back-office aspects of the virtual currency, to more technical and systems oriented resources.  

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Categories: All, Commentary


Tuesday, October 1, 2013

Repo is Far from "Unregulated"

Author: David Schwartz J.D. CPA
Repo is very much in the news lately, even coming up on the radar screen of the New York Times' Gretchen Morgenson. Morgenson penned an article in the Times' September 14, 2013 issue, After a Financial Flood, Pipes Are Still Broken, in which she worries that despite new rules on derivatives, the repo market remains largely unregulated. And yet, for all the new regulations governing derivatives, mortgages and bank holding companies, a crucial vulnerability remains. It’s found in our...
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Journal Commentaries


Keep Regulation Functional (October 2008)

CSFME’s Executive Director Ed Blount interviews SEC Chairman Chris Cox.
American Banking Association Banking Journal


The Bear Market Posse, or Counterparty Risk Management during the Recent Turmoil (Sept.  2008)

by Ed Blount
The RMA Journal, v91n1, 28-32, 5 pages Sep 2008.


Searching for New Paradigms at BIS (July 2008)

by Ed Blount
Unexpected deficiencies in bank capital after recent market turmoil has regulators rethinking aspects of Basel II and “value at risk.”  
American Banking Association Banking Journal


Will Basel II Affect The Competitive Landscape? (September 2003)

By Ed Blount
Newly elected Basel Committee Chairman Caruana, Governor of the Bank of Spain, gives his views on the revised Basel capital accord, relative to its potential effects on competition and risk management in banking markets.
American Banking Association Banking Journal​