Bank Accounting & Finance articles from April 2005

Bank Accounting & Finance archives from April 2005

The financial imperative for cost-effective product development and delivery: competitive constraints on revenues means that banks must find ways to create new products in a cost-effective manner.
April 1, 2005... Management consulting firms are always ready to theorize about the main driver of bank financial performance over time. One prominent firm, Bain & Co., recently suggested that banks that focus on cost control have better financial performance,...

Is the bank merger regulatory review process ripe for change? While a more streamlined process may be desirable, many competing interests mean that the road to change will likely be long.
April 1, 2005... In this renewed era of megamergers, including the recent mergers of Bank of America Corporation/FleetBoston Financial Corporation and JP Morgan Chase & Co./Bank One Corporation, we again revisit the extensive burden of the regulatory approval...

Basel II and the challenge for mid-tier banks: each mid-tier bank should conduct its own cost/benefit analysis for Basel II adoption.
April 1, 2005... As the provisions of the Basel II accord begin to take effect in 2007 in many parts of the world, bankers are scrambling to respond. They are being called upon to make major changes in the way they measure risk, report their appetite for risk...

Success factors for implementing enterprise risk management: building on the COSO framework for enterprise risk management to reduce overall risk.
April 1, 2005... Enterprise risk management (ERM), discussed extensively for more than a decade, is poised to move from the theoretical stage to practical implementation for a growing number of financial services organizations. Driving this development are two...

Sustaining SOX compliance: companies must develop an integrated process for SOX compliance to replace the more project-oriented focus of year-one efforts.(Regulatory Outlook)
April 1, 2005... By the time you read this article, the report cards for year-one compliance with the Sarbanes-Oxley Act of 2002 ("SOX") will have been distributed. Companies that did not receive a passing grade will be dealing with the consequences of not...

2003 dividends tax change: implications for U.S. banks: how might the change in personal income taxes on dividends affect financial institutions' dividends policies?(Tax Update)
April 1, 2005... In November 2004, on the day following his reelection, President George W. Bush reiterated his intent to follow through on tax reform. (1) Two key components of his tax plan include a reduction or possible elimination of personal income taxes...

Risk management in top financial firms continues to evolve: while most firms have dramatically changed risk management practices since 2002, enterprise risk management remains elusive.(Risk Management)
April 1, 2005... The Sarbanes-Oxley Act of 2002 ("SOA") in the United States and equivalent legislation in other countries are changing the risk management landscape. With the specter of criminal prosecution looming as a consequence of noncompliance, financial...

SEC adopts comprehensive rules on asset-backed securities: rules and amendments address Securities Act registration, disclosure, communications during the offering process and ongoing reporting under the Exchange Act.(SEC Update)
April 1, 2005... The Securities and Exchange Commission (SEC, or the Commission) recently adopted new and amended rules and forms to address comprehensively the registration, disclosure and reporting requirements for asset-backed securities ("ABS") under the...