WASHINGTON An international report on managing electronic banking risks will be released this month, Comptroller of the Currency John D. Hawke Jr. said Monday during a speech in Paris.
To be proposed by the Basel Committee on Bank Supervisions electronic banking group, which Mr. Hawke heads, the report would present 14 risk management principles in three categories: board and management oversight, security controls, and legal and reputational risk.
Our expectation is that bankers will put these principles to use as they develop policies and procedures to govern their e-banking activities, Mr. Hawke said.
For example, the report is to suggest that financial institutions create policies and controls to manage electronic banking risks and integrate electronic banking risk management into the institutions overall risk management practices.
Though they are not unique to electronic banking, Mr. Hawke said, these risks are all magnified in a technology-intensive environment.
The electronic banking groups next project is to craft principles for cross-border cooperation among bank supervisors, he said.