G-sifi
FSB unveils loss-absorbency standards
Minimum standard for total loss-absorbing capacity aims to end ‘too-big-to-fail’ and should reduce the funding advantage of globally systemic banks, FSB says, in consultation document
Basel Committee reveals data behind G-Sib designations
Bank for International Settlements publishes figures used to calculate systemic importance and the thresholds for ‘buckets’; FSB designates new bank a G-Sib and shuffles existing list
FSB issues guidance on resolution of ‘too big to fail' lenders
Recommendations include the availability of sufficient loss-absorbing capacity and enforcement of ‘bail-in' rules
EC and FDIC team up to tackle G-sifi resolution
European Commission and Federal Deposit Insurance Corporation establish working group to co-ordinate G-sifi resolution efforts
Committee admits 40% of countries will miss Basel III deadline
Eight out of 19 jurisdictions will miss January 1 deadline for Basel III capital requirements; Stefan Ingves concedes some jurisdictions may still be behind at end of 2013
Bundesbank concerned by escalating stability risks
German central bank’s financial stability review warns of a build-up of risks with echoes of past crises, but says the German financial system has become more robust during the past five years
BIS’s Cecchetti envisages world without G-Sifis
Stephen Cecchetti says the global financial system needs to reach a stage where no banks are globally systemically important; market discipline critical to stability but not sufficient
Basel Committee unveils framework for monitoring D-Sibs
Consultative document sets out loss-absorbency guidelines for domestic systemically important banks; principles allow greater flexibility than rules for global institutions
BoE paper investigates banks’ implicit subsidies
Paper discusses models for attempting to quantify implicit subsidy available to banks via government bailout; estimates range from £30 billion to £120 billion
FSB reports ‘solid’ progress on financial regulatory reforms
FSB chairman Mark Carney gives update to G-20 finance ministers and central bank governors; new reports cover D-Sibs and the sensitivities of harnessing the power of shadow banking