imported>Doug Williamson |
imported>Doug Williamson |
Line 1: |
Line 1: |
| (PCBS). | | (RTGS). |
|
| |
|
| === Terms of reference ===
| | ''Funds transfer''. |
|
| |
|
| The Parliamentary Commission on Banking Standards was established by the UK Parliament to:
| | A gross settlement system in which processing and settlement take place in real time (continuously). |
|
| |
|
| '''A.''' Consider and report on:
| |
|
| |
| # Professional standards and culture in the UK banking sector, taking account of regulatory and competition investigations into the LIBOR rate-setting scandal.
| |
| # Lessons to be learned about:
| |
| ## Corporate governance.
| |
| ## Transparency.
| |
| ## Conflicts of interest.
| |
| ## Their implications for regulation and for UK Government policy.
| |
|
| |
| '''B.''' Make recommendations for legislative and other action.
| |
|
| |
|
| |
|
| |
| === Final report ===
| |
|
| |
| The Commission's 2013 report is designed to address:
| |
|
| |
| # Making the individual responsibility of senior bankers a reality.
| |
| # Reinforcing each bank's own responsibility for its own soundness and the maintenance of its standards.
| |
| # Creating better functioning and more diverse banking markets.
| |
| # Reinforcing regulators' responsibility to exercise judgement in deploying their powers.
| |
| # Specifying the responsibilities of the UK Government.
| |
|
| |
|
| |
| The Commission's report setting out its conclusions and recommendations can be downloaded here:
| |
| [[Media:PCBS report June 2013.pdf|PCBS final report June 2013]].
| |
|
| |
|
| |
| ==Note==
| |
|
| |
| The Association of Corporate Treasurers gave both written and oral evidence to the Commission. Justin Welby, a member of the Commission, was Lord Bishop of Durham on his appointment and became The Most Rev. and the Rt Hon. the Archbishop of Canterbury before it reported. A former Treasurer of Enterprise Oil, he is a Fellow of the ACT.
| |
|
| |
|
| == See also == | | == See also == |
| * [[LIBOR]] | | * [[EONIA]] |
| * [[Banking Standards Review]] | | * [[Fedwire]] |
| * [[MCT]] | | * [[Gross settlement system]] |
| | | * [[Interlinking]] |
| | | * [[Real-time transmission, processing or settlement]] |
| ==Other links==
| | * [[Trans-European automated real-time gross settlement express transfer]] |
| *[http://www.parliament.uk/bankingstandards UK Parliament: PCBS] | |
|
| |
|
| [[Category:Compliance_and_audit]] | | [[Category:Payment_and_Clearing_Systems]] |
| [[Category:Ethics]]
| |