The News Review:
- Risk management failures major cause of crisis: IMF
- China regulator takes aim at banks’ poorly run wealth management…
- G7 told capital, risk management, agile central banks key credit…
- Mezzanine Management Central Europe raises 261 million euros for…
- Top 5 Reasons A Content Management Company Will Go Out Of Business
- Siemens could seek millions of euros damages from former management -…
Risk management failures major cause of crisis: IMF
Economic Times – Apr 11, 2008
The
shortcomings showed a lack of “judgment and governance” by the banks, the IMF
said in a document prepared for finance ministers and central bank chiefs before
weekend IMF and World Bank meetings in Washington. Problems were complicated by
weaknesses in accounting and regulatory standards, the fund said. “Both managers
and supervisors need to play a more active role in scrutinizing these practices,
especially with regard to liquidity management, off-balance-sheet entities and
structured products, and to pursue more active stress testing,” the IMF said. The IMF said credit-rating agencies also failed to capture risks posed by
structured investment vehicles.
China regulator takes aim at banks’ poorly run wealth management…
Forbes – Apr 11, 2008
‘A few commercial banks have not conducted their wealth management business in accordance with relevant regulations. resulting in problems including incomplete product design, inadequate customer screening, and insufficient disclosure of risks,’ said the CBRC in a statement posted on its official website.
G7 told capital, risk management, agile central banks key credit…
Forbes – Apr 11, 2008
‘To restore confidence in the soundness of markets and institutions, it is essential that steps are taken now to enhance the resilience of the global system,’ the FSF report said. The FSF represents central bank authorities, finance ministries and financial regulators around the world. The outlines of its recommendations had already been made clear from earlier discussions: better management and disclosure of risks by banks, overhauling the process and toughening standards at credit rating agencies, and expanding the operational abilities of central banks so they can be forewarned of financial turmoil and manage a crisis once it arrives. The report asks G7 ministers to approve a massive reform package that covers these idea.
Mezzanine Management Central Europe raises 261 million euros for…
Forbes – Apr 11, 2008
(MMCE), the UK-based investment manager, announced the final closing of its second Central and East European mezzanine fund, Accession Mezzanine Capital II (AMC II), at 261 million euros. MMCE said the fund was oversubscribed and larger than its AMC I fund which raised 115 million euros in 2003. ‘Current conditions in the debt markets have meant that private equity firms are now seeking more flexible financing options which has, in turn, considerably increased the demand for mezzanine,’ commented Franz Hoerhager, director of Mezzanine Management Central Europe. AMC II has attracted existing institutional investors including the European Bank for Reconstruction and Development, MetLife Inc.
Top 5 Reasons A Content Management Company Will Go Out Of Business
InformationWeek – Apr 11, 2008
I said perhaps, but it’s also possible its problems were related to the fact that its customers were really angry and really vocal. It’s too easy to blame market conditions without taking a hard look in the mirror sometimes. For this top 5 list I won’t name any names, but I encourage everyone to try to clean their own closets occasionally. Maybe these items will add up to survival in either a recession or peak market conditions.
Related: Great Company, Lousy Investment
Siemens could seek millions of euros damages from former management -…
Forbes – Apr 11, 2008
‘Of course, we want compensation for the damages caused. This can, in particular cases, reach amounts in the range of millions,’ he told Handelsblatt newspaper. ‘According to my assessment, former management board members were involved either actively or inactively in the corruption scandal or they have overlooked the issue, then a breach of supervision is obvious,’ he added. ‘Now, it is time to clarify the responsibilities of the former leadership,’ he said. Simultaneously, former management board members have to expect high compensation claims, Handelsblatt said. At the company’s annual general meeting in January, supervisory board chairman Gerhard Cromme said the U.
Related: New Google search engine boosts ‘blogging’
[...] Tower Mortgage Plus fund seeks buyersNational Business Review – Apr 11, 2008The ideal outcome would be for Tower to sell its performing mortgages and chairman Sam Stubbs said he was negotiating with a major trading bank mid-week. But the big question hangs over how long it will take for many borrowers to repay their mortgages so that investors can in turn be repaid. And if borrowers are unable to refinance, this will trigger a wave of mortgagee sales. It was perhaps fortunate for Tower that its announcement came in a week dominated by the free trade deal with China that deflected attention from the wind up… The ideal outcome would be for Tower to sell its performing mortgages and chairman Sam Stubbs said he was negotiating with a major trading bank mid-week. But the big question hangs over how long it will take for many borrowers to repay their mortgages so that investors can in turn be repaid. And if borrowers are unable to refinance, this will trigger a wave of mortgagee sales. It was perhaps fortunate for Tower that its announcement came in a week dominated by the free trade deal with China that deflected attention from the wind up.Related: Mezzanine Management Central Europe raises 261 million euros for… [...]