Credit Institutions

Credit Institutions

In the public perception, credit institutions are primarily responsible for the financial crisis and therefore an important target group for the flood of regulatory requirements launched by European and international banking supervision authorities. This corresponds to the globally expressed desire to ensure through regulation that taxpayers never again have to contribute towards rescuing system-relevant banks . To this end, the accounting rules for financial instruments have been recast, for example, by the International Accounting Standards Board (IASB) and, following an initiative of the Basel Committee on banking supervision, enacted in the European Union through a number of measures, such as tightening up the requirements for equity and liquid asset coverage, detailing of the requirements for the organisational structure and process organisation, as well as improving investor protection. In the Euro zone, these measures were supplemented by the Banking Union, that is, the single bank supervision and winding-up mechanism, which also includes a general directive for a European deposit guarantee as the third pillar.

We have broken down our expertise in the field of banking regulation into five areas. The Risk Management division deals with the minimum requirements for risk management, while the Regulatory Legislation division focuses on equity and liquidity requirements and statutory reporting. Our complianceexperts cover the areas of compliance management, securities compliance, prevention of money laundering and remuneration systems. Because of its particular importance, we also have grouped experts for internal auditing and credit business in separate teams.

Our customer base includes both numerous financial institutions, who work in lending and deposit banking, including transactions subject to the Mortgage Bonds Act (Pfandbriefgesetz), as well as all other types of business listed in § 1, para 1, sentence 3 to 12 KWG, and various regulators, such as the European Central Bank and the Federal Agency for Financial Services Supervision (BaFin). In addition to numerous well-known medium-sized private banks, our customers also include savings banks, cooperative banks, development banks, and legally-dependent subsidiaries of foreign credit institutions. We serve the major German institutions (major banks, central banks and state banks) with our entire range of audit-centric consulting expertise, e.g., in the fields of internal auditing, compliance, forensics and accounting.

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