I came across this new regulations for large banks from FDIC here on Reuters here, http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1738567320080718
Here is an excerpt.
The Federal Deposit Insurance Corp. on Thursday issued new rules requiring some 160 of the largest banks to adopt new procedures to allow banking regulators to settle existing accounts in the event of a bank failure
These new rules will apply to large banks and to other Financial Institutions, but large Banks have to comply by Aug 18.
So, the challenge is two fold. One is that Banks will have to standardize on Information on deposite accounts they provide to FDIC, and they need to put in place new systems that will enforce these new rules in their business.
There are new regulations today. There will be some more coming in the future. How will you ensure that your business systems will be able to change and enforce these new business rules at the speed of change ??
A important part of the answer lies in being able to change your rules, without changing the rest of your business (applications) .
Business Rules Management as a technology aims to address exactly these kinds of challenges by
- Externalizing critical rules from inside applications
- Enable modeling of complex rules through power rule representations
- Proving a Rule Engine to automate the enforcement of such rules
- Enabling Business users to modify, manage and eventually take control of their business rules
- Centralize Management of critical business rules and avoid inconsistencies, duplications
- Improve quality of enforcement
- Reduce the cost of change management and improve effectiveness of business
You can read more about Business Rules Management from here