Parliamentary Commission on Banking Standards and Real-time gross settlement system: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Link with MCT page.)
 
imported>Doug Williamson
m (Category added 9/10/13)
 
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]]

Revision as of 10:00, 9 October 2013

(RTGS).

Funds transfer.

A gross settlement system in which processing and settlement take place in real time (continuously).


See also