Understanding Risk Management and Compliance, What is Different After Monday, December 16, 2013
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From the Publisher

American Humor:

"Firms have made good progress in better understanding the complexity of their own operations, including strengthening the overall management of organizational/legal structures, identifying all legal entities (and this was huge for some firms), and beginning the difficult task of identifying additional impediments to resolving a large internationally active firm."

Black humor ...

The above are remarks by Ms Sarah Dahlgren, Executive Vice President of the Financial Institution Supervision Group of the Federal Reserve Bank of New York.

She continued: "I think there's also good recognition that the financial system is more than just banks, with processes at both the domestic/U.S. level and globally to identify the set of systemically important financial institutions (non-banks like insurance companies for example) and to ensure that stronger regulation and oversight is exercised over these firms."

Read more at Number 2 below.

The speech by Mr Vítor Constâncio, Vice-President of the European Central Bank, at the IIEA Conference on "The future of banking in Europe", Dublin was also really interesting.

He said:

"I anticipate that over time there will be a gradual decline in the size of the euro area banking sector.

Indeed, such a process of consolidation and resizing has already been on-going since 2008.

In net terms the number of credit institutions has fallen by 9% since 2008, or around 600 institutions, while the total assets of the euro area banking sector have declined by almost 12%."

Read more at Number 9 below.

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Published: George Lekatis on
ISBN: 9781310939518
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