The FRB as being hawkish

Global Risk Watch Vol.27 June 2017

Risk intelligence e-Newsletter provides an overview of various corporate management risks from a global perspective featuring key events that occurred over the past month and need to be carefully examined for risk management purposes. The Center for Risk Management Strategy (CRMS) as part of the global Deloitte Tohmatsu Group provides you with experienced analysis on risk management and financial regulation.

Overview Macroeconomic and Financial Risks

# The FRB as being hawkish
Tsuyoshi Oyama, Partner/Head of Center for Risk Management Strategy(CRMS) at Deloitte Touche Tohmatsu LLC/Deloitte Asia Pacific Risk and Capital Management Leader 

Risk-on trends carries on in the risk asset market.
U.S. stock prices are embracing consecutive days of record highs while an upward trend continues for Japanese and European stocks.
Despite a decision of the Federal Reserve Bank (FRB) for a rate hike, currencies of emerging economies also remain highly stable, so much so that certain countries like Russia and Brazil managed to lower policy rates.

*Please download the full article


(PDF, 194KB)

Overview of Development in Financial Regulations

# Banco Popular and Monte dei Paschi
Yuri Nakano, Senior Manager, Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC

On June 7th, the Single Resolution Board (SRB) has taken resolution action in respect of Banco Popular Espanol S.A. (BP).
SRB was able to swiftly settle the issue by having Banco Santander S.A. (Santander), the largest bank in Spain, acquire BP whose capital shortage due to deterioration in real estate loans led to bank run.

*Please download the full article


(PDF, 191KB)

Highlight of Indicator for this Month

# Concerns loom over not only Brexit, but inflation
Toshikazu Kumagai, Senior Staff, Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC 

In the U.K. general election, the Conservative Party led by prime minister May lost the majority seats.
Dark clouds are looming over not only Brexit negotiations and domestic politics, but also their future economy.

*Please download the full article


(PDF, 324KB)

Seminars, Conference & Publication

【Outside Lectures & Conference】

# Risk Japan 2017, hosted by Asia Risk (June 6, 2017 @Shangri-La Hotel Tokyo) 
Deloitte Touche Tohmatsu LLC participated the 10th Annual Risk Japan, hosted by Asia Risk, as a principal sponsor.

In reflection of 10 years, Asia Risk conducted an exclusive interview with Tsuyoshi Oayama (Partner / Head of Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC).
The interview video is available on the Risk Japan 2017 website.

>>Watch the interview (video) here
* Audio is in English
* External link

Exclusive interview questions:
- What are the key takeaways from Risk Japan 2017 conference?
- Can you give an overview of regulatory changes in the past 10 years?
- Looking forward, what are your views for the next 10 years?


【Article Contribution & Other Activities】

# Deloitte Touche Tohmatsu Monthly Magazine “Accounting Information” (June 2017 issue) *Only available in Japanese
Deloitte Tsuyoshi Oyama contributed to the magazine’s June issue (released on May 20th, 2017) with an article, “2017 Global Economy Outlook ? Will the Trump market rally begin to rewind?"

# Deloitte CFO Signals Japan : 2017 Q1 *Only available in Japanese
Deloitte has conducted the 7th regular survey on CFOs in Japan.
This survey analyzes the change in awareness of CFOs in a chronological order as well as the latest outlook.
It also investigates the awareness on risk scenarios of Japan and major countries from a macroeconomic perspective.
The hot topics include the impact of digitalization on corporate management and CFOs (survey period: April 3rd to 14th).
CRMS has contributed to the examination part of the survey.

# Hokenmainichi Shimbun Co. Ltd. “Insurance ERM Basics” (published on April 7th, 2017)
Shigeyuki Goto (Director, CRMS) has published “Insurance ERM Basics” from Hokenmainichi Shimbun Co. Ltd.

>For details, please click here. *Only available in Japanese

# ”Brexit Impact from a Macroeconomic Perspective ” available online (from July 1st, 2016) *Only available in Japanese
CRMS provides timely information on the impact and key aspects of Brexit from a macroeconomic perspective on the special website of the Deloitte Tohmatsu Group.

Contact Center of Risk Management and Strategy

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