News
Regulators in Asia target shadow banking sector
Regulators in Asia are striving to strike balance between regulating the shadow banking sector and letting Asian financial intermediation develop
Fed’s Tarullo outlines update to regulation of foreign banks
Rules for foreign banks operating in the US need to be strengthened, but should not be so harsh as to give domestic banks a competitive advantage, says Daniel Tarullo
Bank of Thailand: LCR horizon should be a maximum of seven days
Experience of the Asian financial crisis leads Bank of Thailand's deputy governor to question the LCR parameters
RBA takes action to cut interchange fees
Reserve Bank of Australia reduces interchange fee cap for Eftpos payments system by 30% to 12 cents; move follows swingeing cut in 2006
BoE warns UK banks on ‘overstated’ capital
Financial Stability Report says banks’ reported capital may fall short of actual buffer; FSA urged to ensure banks take action
Hong Kong regulator cautious about CoCos
The HKMA is unconvinced about banks issuing contingent convertible instruments, according its deputy chief executive, Arthur Yuen
Riksbank recommends interbank rate-setting reform
Central bank review finds no manipulation but identifies governance shortfalls; part of latest stability report that deems banks in Sweden ‘financially strong’
Canadian deputy fears ‘ugly’ outlook for global economy
Bank of Canada’s John Murray says policy slippages are endangering global recovery; hits out at surplus countries and says world is trapped in a ‘bad’ scenario
EC gives go-ahead for Spanish recapitalisation plans
European Commission says recapitalisation and resolution plans for four Spanish banks under Frob control do not violate state aid rules; paves way for capital injection in early December
Kenyan coin shortage is a public misperception, says central bank
Central Bank of Kenya says “perceived shortage” can be eradicated if members of the public raid their piggy banks
ECB’s Constâncio advocates sovereignty transfer
The vice-president says some aspects of decision-making should be moved from a national to a European level
King grilled over £37bn grabbed by UK Treasury
Treasury Committee takes Mervyn King to task over 'profits' from quantitative easing claimed by UK Treasury; BoE officials insist bank’s independence is not under threat
Eurogroup agrees on Greek aid package
Eurozone countries agree on measures to boost Greek debt sustainability alongside a €43.7 billion ($56.5 billion) disbursement from the European Financial Stability Facility
Carney gets Bank of England top job
Mark Carney, currently governor of the Bank of Canada, will take over from Mervyn King to run the UK central bank in June 2013, despite earlier appearing to deny interest in role
Korea to start mandatory clearing in October 2013
Legislative hold-up means Korea OTC derivatives clearing will be delayed
Shirakawa deflects criticism over off-target inflation
BoJ chief says Japan needs stronger growth potential for effect of loose monetary policy to feed through fully; urges government to take action
Stronger governance recommended for Hibor
Review of Hong Kong interbank offered rate finds no abuse in fixing process, but new code of conduct put forward to fortify governance
Islamic finance championed by eight-strong central bank pact
Heads of central banks within the Developing-8 organisation agree to work together to increase the size of the Islamic Finance industry
Low volatility driving forex turnover down, says Bank of England FX chief
Speaking at the FX Week Europe conference, Michael Cross explained why turnover in foreign exchange spot is declining for the first time in a decade
Liikanen: Capital and resolution rules will not suffice
Bank of Finland governor, who has proposed banking separation in Europe, defends the value of structural reform in the financial system
Czech president re-appoints both CNB vice-governors
Mojmír Hampl and Vladimír Tomšík appointed for second and final six-year terms at the Czech National Bank
Mersch appointed to ECB amid continuing controversy
Appointment to ECB board finalised despite challenge over lack of female candidates; Sharon Bowles says democracy has been shown to be discarded when ‘its truths are inconvenient’
RBA moves closer to implementing real-time payments system
Reserve Bank of Australia publishes criteria for proposals of real-time consumer and business payments provision following consultations with the industry
EBA reveals criteria for assessing good governance
European Banking Authority sets out process, criteria and minimum requirements for assessing suitability of top management of credit institutions