These Principles aim to ensure effective governance of compensation, alignment of compensation with prudent risk taking and effective supervisory oversight and stakeholder engagement in compensation.
Uncategorized
2 April 2009
The objective of financial crisis management is to seek to prevent serious domestic or international financial instability that would have an adverse impact on the real
economy.
Prepared remarks by Mario Draghi, Chairman of the Financial Stability Forum at the conclusion of London Summit on 2 April 2009.
The objective of financial crisis management is to seek to prevent serious domestic or international financial instability that would have an adverse impact on the real economy. In so doing, authorities will be mindful of the impact interventions may have on the public purse and will, as far as possible: maintain incentives for financial institutions […]
The principles in this document promote strong governance processes around valuations; the use of reliable inputs and diverse information sources; the articulation and communication of valuation uncertainty to internal and external stakeholders; the allocation of sufficient banking and supervisory resources to the valuation process; independent verification and validation processes; consistency in valuation practices for risk management and reporting purposes, where possible; and strong supervisory oversight around bank valuation practices.
This document includes high-level principles for cross-border cooperation on crisis management between relevant authorities.
12 March 2009
9 March 2009