Baby's 1st Year Videos: Caring for the Umbilical Cord
Your baby's umbilical cord was probably the last thing you thought about when you were imagining what it wuold be like to take care of your baby. But you can relax, caring for the umbilical cord is as simple as it can be: totally leave it alone. Don't wash it, don't worry about it -- it will fall off on its own.
When changing your baby's diaper, simply keep the diaper folded down below the stump or use newborn diapers made with cord cutouts.
Source : http://www.parenting.com/Article/Video-Caring-For-The-Umbilical-Cord
