http://www.isnare.com/?s=author&a=Stanley+Epstein Legal Stanley Epstein Tue, 11 Dec 2007 00:00:00 +0800 http://www.isnare.com/?aid=106051&ca=Legal Over the past decade we have come to take Real Time Gross Settlement (RTGS) Systems for granted as a part of the general payments and settlements landscape. Because RTGS systems form a part of the core backbone of the national payments system in countries where this type of settlement exists, it's n... Finances Stanley Epstein Fri, 05 Oct 2007 00:00:00 +0800 http://www.isnare.com/?aid=106052&ca=Finances Over the past decade central banks and financial regulators have placed a heavy emphasis on ensuring that “National Payment Systems” are made as safe and secure as possible. We have seen the proliferation of Real Time Gross Settlement for high value payments and host of other arrangements for the “s... Finances Stanley Epstein Tue, 27 Dec 2005 00:00:00 +0800 http://www.isnare.com/?aid=25552&ca=Finances “Basel II” has been in the news an awful lot these past 18 month or so. Unlike Basel I the new standard introduces a capital charge based on operational risk. The words Operational risk themselves immediately raise a whole bunch of questions; What is “Basel II”? What is operational risk? How is the... Business Management Stanley Epstein Fri, 23 Dec 2005 00:00:00 +0800 http://www.isnare.com/?aid=25426&ca=Business+Management The operational risk requirements of Basel II proposes three measurement methodologies for calculating the operational risk capital charges. These are the Basic Indicator Approach, the Standardized Approach and the Advanced Measurement Approach. Under the Basic Indicator Approach banks must hold cap... Finances Stanley Epstein Thu, 08 Dec 2005 00:00:00 +0800 http://www.isnare.com/?aid=22754&ca=Finances The operational risk requirements of Basel II (International Convergence of Capital Measurement and Capital Standards) place a heavy emphasis on the identification, assessment, monitoring and control of operational risk. The ultimate requirement for reserving capital against operational losses are c... Finances Stanley Epstein Wed, 23 Nov 2005 00:00:00 +0800 http://www.isnare.com/?aid=20210&ca=Finances Just a decade ago the concept of bank liquidity was for all intents and purposes only one for the Bank Regulator to really concern himself with. A bank had to remain liquid –critical if it were to enjoy the confidence of its depositors – but this criticality was an “after the event” issue. Then bank... Business Stanley Epstein Sat, 05 Nov 2005 00:00:00 +0800 http://www.isnare.com/?aid=18004&ca=Business The Bank for International Settlements definition of a payment system states; “A payment system consists of a set of instruments, banking procedures and, typically, interbank funds transfer systems that ensure the circulation of money” (From “A glossary of terms used in payments and settlement syste... Finances Stanley Epstein Mon, 31 Oct 2005 00:00:00 +0800 http://www.isnare.com/?aid=16998&ca=Finances What is a payment system? I am reminded of lengthy debates around the office on just this question - and the heated and, at times, passionate discussion that ensued. My antagonist, who is also my partner, took one view and I took the other. The thrust and parry of the dialogue ebbed and flowed … lon... Finances Stanley Epstein Sat, 29 Oct 2005 00:00:00 +0800 http://www.isnare.com/?aid=15996&ca=Finances The older folk among us may remember a song that was popular in the mid-1960s, by Bobby Sherman titled “Happiness Is”. To quote a key line from the lyrics “happiness is different things to different people”. And this is my starting point. It is the “different things to different people” part that is... Finances Stanley Epstein Fri, 21 Oct 2005 00:00:00 +0800 http://www.isnare.com/?aid=15613&ca=Finances Basel II has been introduced to encourage banks to improve their management of Credit, Market and Operational Risks. Under the new accord comes a risk based capital requirement specifically for Operational Risk. While capital is important it is only one defense against risk. It is also unlikely that...