|
SolvV
SolvV is short for ''Solvabilitätsverordnung'' which means solvability directive in German, i.e. the delegated legislation of §§ 10 ff of the Kreditwesengesetz and in effect since 2006. The long name in German is ''Verordnung über die angemessene Eigenmittelausstattung von Instituten, Institutsgruppen und Finanzholding-Gruppen'', literally "directive on the appropriate setting of equity for (financial) institutes, groups of institutes and financial holding groups". There is an analogous directive with the same name in Austria. See also * Basel Accords as basis for the Kreditwesengesetz * MaRisk, minimum requirements for risk management in Germany * Sarbanes–Oxley Act The Sarbanes–Oxley Act of 2002 is a United States federal law that mandates certain practices in financial record keeping and reporting for corporations. The act, (), also known as the "Public Company Accounting Reform and Investor Protecti ... on similar topics legally binding within the US External r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kreditwesengesetz
The German Banking Act Kreditwesengesetz (KWG) literally means ''law of the banking system'', is the primary legally implementation of the Basel Accords. It is binding for banks and other institutes providing financial services (German: '' :de:Kreditinstitute und :de:Finanzdienstleistungsinstitute'') in Germany and effective since January 1935, but updated in 1962. Purpose The main goals of the KWG are: * To guarantee and safeguard the functionality of banks (literally in German: ''Sicherung und Erhaltung der Funktionsfähigkeit der Kreditwirtschaft'') * To safeguard the creditors from losing their invested capital, i.e. any kind of share (literally in German: ''Schutz der Gläubiger von Kreditinstituten vor Verlust ihrer Einlagen'') The Kreditwesengesetz imposes restriction on risk-related business activities and extends the duty of disclosure. It ensures competences of regulators and is the legal justification of the German Solvability Directive (SolvV) and MaRisk, the corr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MaRisk
MaRisk is an acronym referring to the minimum requirements for risk management (German: '), a circular by the German Federal Financial Supervisory Authority (', BaFin) providing concepts for risk management of banks, insurances and other companies financially trading in Germany. The primary legal background for MaRisk is the Kreditwesengesetz (KWG), the secondary legal background is the '' Solvabilitätsverordnung SolvV''. MaRisk implements the qualitative requirements of Basel II and Basel III into German law. Strictly speaking, MaRisk is not a law, but a ''norm-interpreting administrative regulation'' (German: ), nevertheless it is de facto binding for all financial institutes and insurance companies with business in Germany. Details One core principle of MaRisk is that the risk control department has to be set up to be organisationally independent from those departments performing business transactions. This separation should prevail throughout the organisation up to and in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Primary And Secondary Legislation
Primary legislation and secondary legislation (the latter also called delegated legislation or subordinate legislation) are two forms of law, created respectively by the legislature, legislative and executive (government), executive branches of governments in representative democracies. Primary legislation generally consists of statutes, also known as 'acts', that set out broad outlines and principles, but delegate specific authority to an executive branch to make more specific laws under the aegis of the principal act. The executive branch can then issue secondary legislation (often by order-in-council in parliamentary systems, or by regulatory agency, regulatory agencies in presidential systems), creating legally enforceable regulations and the procedures for implementing them. Australia In Australian law, primary legislation includes acts of the Commonwealth Parliament and state or territory parliaments. Secondary legislation, formally called legislative instruments, are re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equity (finance)
In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity. Equity can apply to a single asset, such as a car or house, or to an entire business. A business that needs to start up or expand its operations can sell its equity in order to raise cash that does not have to be repaid on a set schedule. In government finance or other non-profit settings, equity is known as "net position" or "net assets". Origins The term "equity" describes this type of ownership in English because it was regulated through the system of equity law that developed in England during the Late Middle Ages to meet the growing demands of commercial activity. While the older common law courts dealt with questions of property title, equi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Basel Accord
The Basel Accords refer to the banking supervision accords (recommendations on banking regulations) issued by the Basel Committee on Banking Supervision (BCBS). Basel I was developed through deliberations among central bankers from major countries. In 1988, the Basel Committee published a set of minimum capital requirements for banks. This is also known as the 1988 Basel Accord, and was enforced by law in the Group of Ten (G-10) countries in 1992. A new set of rules known as Basel II was developed and published in 2004 to supersede the Basel I accords. Basel III was a set of enhancements to in response to the financial crisis of 2007–2008. It does not supersede either Basel I or II but focuses on reforms to the Basel II framework to address specific issues, including related to the risk of a bank run. The Basel Accords have been integrated into the consolidated Basel Framework, which comprises all of the current and forthcoming standards of the Basel Committee on Banking Supervi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sarbanes–Oxley Act
The Sarbanes–Oxley Act of 2002 is a United States federal law that mandates certain practices in financial record keeping and reporting for corporations. The act, (), also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and "Corporate and Auditing Accountability, Responsibility, and Transparency Act" (in the House) and more commonly called Sarbanes–Oxley, SOX or Sarbox, contains eleven sections that place requirements on all U.S. public company boards of directors and management and public accounting firms. A number of provisions of the Act also apply to privately held companies, such as the willful destruction of evidence to impede a federal investigation. The law was enacted as a reaction to a number of major corporate and accounting scandals, including Enron and WorldCom. The sections of the bill cover responsibilities of a public corporation's board of directors, add criminal penalties for certain misconduct, and require t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Bundesbank
The Deutsche Bundesbank (), literally "German Federal Bank", is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks (ESCB). Due to its strength and former size, the Bundesbank is the most influential member of the ESCB. Both the Bundesbank and the European Central Bank (ECB) are located in Frankfurt, Germany. It is sometimes referred to as "Buba" for Bundesbank, while its usual abbreviation is BBk in Germany and internationally DBB. The Bundesbank was established in 1957 and succeeded the Bank deutscher Länder, which introduced the Deutsche Mark on 20 June 1948. Until the euro was physically introduced in 2002, the Bundesbank was the central bank of the former Deutsche Mark ("German Mark", sometimes known in English as the "Deutschmark"). The Bundesbank was the first central bank to be given full independence, leading this form of central bank to be referred to as the ''Bundesbank model'', as opposed, for instance, to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 In Law
8 (eight) is the natural number following 7 and preceding 9. In mathematics 8 is: * a composite number, its proper divisors being , , and . It is twice 4 or four times 2. * a power of two, being 2 (two cubed), and is the first number of the form , being an integer greater than 1. * the first number which is neither prime nor semiprime. * the base of the octal number system, which is mostly used with computers. In octal, one digit represents three bits. In modern computers, a byte is a grouping of eight bits, also called an octet. * a Fibonacci number, being plus . The next Fibonacci number is . 8 is the only positive Fibonacci number, aside from 1, that is a perfect cube. * the only nonzero perfect power that is one less than another perfect power, by Mihăilescu's Theorem. * the order of the smallest non-abelian group all of whose subgroups are normal. * the dimension of the octonions and is the highest possible dimension of a normed division algebra. * the first num ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union Corporate Law
European, or Europeans, or Europeneans, may refer to: In general * ''European'', an adjective referring to something of, from, or related to Europe ** Ethnic groups in Europe ** Demographics of Europe ** European cuisine, the cuisines of Europe and other Western countries * ''European'', an adjective referring to something of, from, or related to the European Union ** Citizenship of the European Union ** Demographics of the European Union In publishing * ''The European'' (1953 magazine), a far-right cultural and political magazine published 1953–1959 * ''The European'' (newspaper), a British weekly newspaper published 1990–1998 * ''The European'' (2009 magazine), a German magazine first published in September 2009 *''The European Magazine'', a magazine published in London 1782–1826 *''The New European'', a British weekly pop-up newspaper first published in July 2016 Other uses * * Europeans (band), a British post-punk group, from Bristol See also * * * Europe (disamb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
