Financial Stability
Central banks should regulate financial system: CentralBanking.com poll
CentralBanking.com poll shows more than 58% of readers think central banks should regulate banks in addition to insurance firms, hedge funds, and brokers
Bank of Canada: capital requirements dampen shocks
Bank of Canada study creates micro-model banking sector where capital requirements dampen real impacts of financial shocks
NY Fed’s Dudley explains weakness of economic recovery
New York Federal Reserve president William Dudley says recovery depends on housing and consumption boost
IMF’s Portugal identifies key information gaps
IMF deputy managing director Murilo Portugal lays out areas for improvement in filling information gaps
FSoc to debate measures to toughen money market funds
US Presidential Working Group including Federal Reserve chairman Ben Bernanke and Treasury secretary Timothy Geithner proposes eight steps to prevent runs on money market funds
ECB calls for law enforcing Sepa migration
European Central Bank says legislative action on migration of Sepa scheme needed as self-imposed deadline will not work
Basel Committee stalls on key element of counter-cyclical plans
Market participants cast doubt on the collective strength of multiple measures to mitigate pro-cyclicality in Basel III
Britain unveils sweeping, cross-border bank levy
UK government publishes draft bank tax law which will affect domestic banks operating overseas and foreign bank operations in Britain; proposal highlights international disunity
Trichet opposes EU agreement on fiscal sanctions
European Central Bank president Jean-Claude Trichet refuses to give his backing to sanctions for countries that break rules of stability and growth pact; sees sanctions as too soft
Philly Fed queries merits of payday loans
Philadelphia Federal Reserve study discusses costs and benefits of payday loans
Bank: credit demand still weak
Bank of England October Agents' summary of business conditions shows credit conditions continue to remain fragile
ECB calls for more data to prevent crises
European Central Bank draws attention to information gaps, says broader and more flexible data will aid macroprudential supervision
EU to rely on colleges for cross-border resolution
Plans place ‘resolution colleges’ at the fore of attempts to avoid diplomatic wrangling from a cross-border bank's collapse; Barnier keen on harmonisation of insolvency laws but stresses difficulties
Colombia revisits currency redenomination debate
Central Bank of Colombia governor José Darío Uribe says there are benefits to be had from redenominating peso, despite costs
King demands collaboration
Bank of England governor Mervyn King says countries must reach collective solution over global imbalances or risk crippling the global economy through protectionist policies
More discord over Basel III countercyclical buffers
Basel Committee’s Peter Praet acknowledges disagreement; Charles Goodhart warns lack of consensus will stop central banks acting to stem financial imbalances
ICFA talks Target2- Securities with the ECB
Jean-Michel Godeffroy, chairman of the T2S programme board at the European Central Bank, talks through the future of the settlement platform with Melanie White of ICFA Magazine
Basel Committee sketches regulatory action plan
Basel Committee on Banking Supervision identifies eight issues it is working on as Basel III reform package heads into political sphere
Financial regulators’ doubts about the prudential regime
Officials are far from confident that they will be able to create a more resilient financial system, Robert Pringle writes
Bail-ins win further support
Bail-in capital meets with favour from speakers at London School of Economics conference
Take more proactive role in macroprudential policy, DSK tells Asia
IMF managing director Dominique Strauss-Kahn says emerging markets should lead by example and complement strong recovery with sound macroprudential policies
Malaysia’s Ibrahim: bank cooperation key to regulatory reforms
Bank Negara Malaysia’s Muhammad bin Ibrahim says successful implementation of regulatory reforms requires cooperation with banks
Basel Committee releases proposals for pay
Basel Committee on Banking Supervision releases guidelines on methodology for compensation practices; says proposals seek to more closely align risk and performance at financial institutions
Academics embark on €1.8m project to predict crises
European Union-funded project will see economists, computer scientists and physicists cooperate in bid to improve financial forecasting