The G20 leaders’ financial reform and its impact on EU banks’ back-office function

Michel M. Stubbe

Journal of Securities Operations & Custody, 2016, vol. 8, issue 3, 228-237

Abstract: The 2008 financial crisis and the financial reform, which was implemented in response to this financial crisis by the G20 Leaders, have significantly changed the environment in which the banks’ back offices must operate and the requirements which they must fulfil. They must continue to increase regularly and incrementally the efficiency of their processes and procedures. However, they must now also play a major role in the implementation of the financial reform and fulfil new comprehensive and complex regulatory requirements that are being developed since the end of the previous decade. In this new environment, a merely incremental strategy has become insufficient. Instead, this article considers that banks’ back offices have to follow a holistic and in depth strategy, and use a broad set of tools for change. The implementation by the back offices of the new requirements has to be approached as an opportunity for a fully fledged review of processes and procedures, considering the new requirements as both legal obligations and also opportunities to review business models and support the overall strategy of the banks. The following three strategic operational objectives should be sought: enhance operational processes, increase efficiency of collateral and cash management and improve data quality.

Keywords: G20 leaders financial reform; EU financial regulation; EU banks’ back office; back offices’ financial stability role; new banks’ operational processes; back offices’ innovative equation (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://hstalks.com/article/1773/download/ (application/pdf)
https://hstalks.com/article/1773/ (text/html)
Requires a paid subscription for full access.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2016:v:8:i:3:p:228-237

Access Statistics for this article

More articles in Journal of Securities Operations & Custody from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().