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To get off Basel for a while – Senator Ellison has announced that the AML bill will be delayed until at least mid-June. The longer this goes on the more changes we can expect from the White Paper and therefore the more consultation will be needed when it comes out.

There will be a few big issues here – for the banks' customers the most visible change will be how they have to identify themselves to the bank and whether they need to re-identify themselves at some stage. For the banks, the big issue will be an IT one – how to identify when a customer's behavior changes in a suspicious way.

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The BIS seems pretty happy that the various QIS have given them a correct result, with the scaling factor remaining at 1.06. This was the expected result, but I do not think the Americans will derive much comfort from it and they are likely to maintain their cautious approach to capital reductions under the new Accord

I intend to change the focus of this blog to look at banking issues in general, rather than specifically risk management. To this end I will be posting on more general interest issues than previously and endeavoring to make at least on post a day on current events in banking in Australia.

The reason for this is that I have noticed a wide variety of information and disinformation on banks in Australia and I hope, in my own small way, to address this problem.

You are invited to ask any question or raise any issue on this thread – just keep it relevant and keep it clean (and relevant to banking or risk management)!

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