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Risk Management Presentation January 28 2013

Risk Management Presentation January 28 2013

Ratings: (0)|Views: 3 |Likes:
Published by George Lekatis
International Association of Risk and Compliance Professionals (IARCP)
http://www.risk-compliance-association.com

Every Monday
Top 10 risk and compliance management related news stories and world events
Do you want to receive (at not cost) every Monday the Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next?
You can register at:
http://www.risk-compliance-association.com/Top_10_Risk_Compliance_Management_Stories_Events.html

Receive the New Member Orientation Newsletters
You will have the opportunity to learn (at not cost) what members registered before you have already learned. Understand better risk and compliance management, projects, careers, challenges and opportunities.
You can register at:
http://www.risk-compliance-association.com/New_Member_Orientation_Newsletters.html
International Association of Risk and Compliance Professionals (IARCP)
http://www.risk-compliance-association.com

Every Monday
Top 10 risk and compliance management related news stories and world events
Do you want to receive (at not cost) every Monday the Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next?
You can register at:
http://www.risk-compliance-association.com/Top_10_Risk_Compliance_Management_Stories_Events.html

Receive the New Member Orientation Newsletters
You will have the opportunity to learn (at not cost) what members registered before you have already learned. Understand better risk and compliance management, projects, careers, challenges and opportunities.
You can register at:
http://www.risk-compliance-association.com/New_Member_Orientation_Newsletters.html

More info:

Categories:Business/Law
Published by: George Lekatis on Jun 14, 2013
Copyright:Attribution Non-commercial

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International Association of Risk and Compliance
Professionals (IARCP)
 
1200 G Street NW Suite 800 Washington, DC 20005-6705 USA Tel: 202-449-9750 www.risk-compliance-association.com
 
Top 10 risk and compliance management related news storiesand world events that (for better or for worse) shaped the week's agenda, and what is next
 
Dear Member,
 
Which is the
difference
between
gooddeleveraging
and
bad deleveraging?
 
According to Dr Andreas Dombret, Member of the Executive Board of the Deutsche
 
Bundesbank,good deleveragingmeans
scaling back the exposure toother financial intermediaries,
whereasbad deleveragingmeans that
lending to the real economy is being reduced.
 
Dr Andreas Dombret is one of my favourite speakers. In Number 2 of our list he asks the question:
 
Will 2012 go down in history as an
annus horrib
ilis‖
 
or rather as an
 
annus mirabili
s,
 
or neither?
 
He starts from the originator of the
annus horribili
s,
 Queen Elizabeth,that used the phrase to describe her feelings about the year 1992, and hegoes on with thefireat Windsor Castle. Many peopleuse the metaphor of  a large-scale fire to explain the economic term of a
systemic
event.
 
The fire spread so rapidly due to a cit
ys
narrow streets and the
―in
terconnectedness
of houses.
 
The fire in the financial markets was stopped by the ECB, by the twofirewalls EFSF and ESM as well as by the governments announcing thatthey would improve the financial system.
 
Thus 2012 is an
annus mirab
ilis‖.
 
International Association of Risk and Compliance Professionals (IARCP)www.risk-compliance-association.com
 
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He also remembered Peter Bernstein, the financial historian from the US,that illustrated his point by
citing the anecdote of a Moscovite professor of statistics, who refused to go to the air-raid shelter during World War IIbomb attacks.
 
The professor argued:
―See,
Moscow has seven million inhabitants.
 
Why should I expect to be one who will be hit
?
 
His neighbours were astonished, when he came back to the shelter thenext night.
 
Now the profes
sor‘s
argumentation was:
 
Moscow has seven million inhabitants and one elephant. Last night theelephant was hit.
 
More at Number 2 of our list.
 
InNumber 1this week we have the speech of Richard W. Fisher,
 
president and CEO of the Federal Reserve Bank of Dallas.
 
He speaks about the
the injustice of being held hostage to large financialinstitutions considered too big to fail
.
 
I enjoyed what he remembered:
 
One is reminded of the comment French Prime Minister Clemenceaumade aboutPresident Wilson
s 14 points:
 
―Why
1
4?
he asked.
God did it in 1
0.
 
Were that we only had 14 points of financial regulation to contend withtoday.
 
Read more atNumber 1below.Welcome to the Top 10 list.
 
International Association of Risk and Compliance Professionals (IARCP)www.risk-compliance-association.com
 
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Richard W. Fisher, president and CEO of theFederal Reserve Bank of Dallas.
 
Ending 'Too Big to Fail': A Proposal for Reform Before It's Too Late (With Referenceto Patrick Henry, Complexity and Reality)
 
Remarks before the Committee for the RepublicWashington, D.C. · January 16, 2013
 
Dr Andreas Dombret
 
Member of the Executive Board of the DeutscheBundesbank
 
Challenges for financial stability
 –
policy andacademic aspects
 
Dinner Speech at the Joint Conference of theDeutsche Bundesbank, the Technical UniversityDresden and the Journal of Financial Stability
 
Preserving the safety and security of Malaysia
s banking system
 
Speech by Mr Encik Abu Hassan Alshari Yahaya, Assistant Governor of the Central Bank of Malaysia, at the launch of the e-Banking FraudAwareness Campaign, Kuala Lumpur 
 
International Association of Risk and Compliance Professionals (IARCP)www.risk-compliance-association.com

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