News
Bundesbank’s Dombret dismisses banking separation
German central bank executive board member says banking separation will not solve too-big-to-fail problem
Spain’s Linde hits out at countries delaying euro reform
Bank of Spain governor says sovereign debt problems are being dragged out by the slow acceptance of a 'new reality' in the monetary union
King urges government to consider going beyond ring-fencing
BoE’s Mervyn King, Paul Tucker and Andy Haldane give evidence on Vickers proposals on ring-fencing retail banks; King argues recommendations could be extended to full separation of investment arms
Strategic plan for Ireland revealed
Central Bank of Ireland targets reform of regulatory and supervisory framework; aims to exit from EU-IMF support programme by 2014
Annual report highlights transformative year for Bank of Mauritius
Bank of Mauritius experimented with new policy measures and a redesigned monetary policy committee in the past year
Raft of changes could shrink Basel III liquidity buffers
Basel Committee estimates liquid asset shortfall could be cut by 14% if a menu of potential changes is adopted
Bernanke steps up pressure for action on fiscal cliff
Fed chairman warns of damaging effects of uncertainty over ‘fiscal cliff’ on the economy; says plan for long-term debt sustainability would reinforce confidence and promote recovery
UK’s Wheatley talks tough on financial market intervention
Head of UK’s Financial Conduct Authority says he will act ‘early and decisively’ in cases of misconduct; fleshes out details of wholesale market and client asset regulations
BoE’s Bailey says stronger internal governance needed
Andrew Bailey says central bank’s court must hold people to account and be accountable itself; warns of strong banking lobby against ring-fencing plans
French debt downgraded as Troika praises Portuguese reforms
France stripped of top credit rating due to weak reform effort and high uncertainty, as Troika praises Portugal for making ‘solid progress’ with economic reforms
Ingves explores common characteristics between crises
Riksbank governor says liquidity measures are only temporary solution; warns government deficits are unsustainable
New UK regulators may have some overlap, says FSA’s Nicoll
Director of conduct policy at UK’s FSA says there may be crossover between ‘twin peaks’ regulators; report suggests banking lobby can influence rule-making and industry complacent over costs
BIS’s Caruana warns of low interest rates risk
Jaime Caruana says low interest rates have created a ‘first-mover disadvantage’ that prevents rates rising and could fuel financial instability
FSB takes next steps towards shadow banking regulation
Financial Stability Board gives recommendations for regulating financial institutions outside the regular banking system; estimates shadow banking sector reached $67 trillion in 2011
US Treasury confirms forex exemption from mandatory clearing
After two years of consideration, the US Treasury confirmed its decision to exempt forex swaps and forwards from mandatory clearing and exchange trading on Friday evening
Sarb seeks to improve interbank rate governance
South African central bank says review of Jibar has revealed interbank rate is ‘fundamentally sound’, but produces code of conduct to improve rate-setting process
BoE survey shows record-level concern about sovereign risk
Record 94% of respondents cite sovereign risk as a concern in the Bank of England’s latest systemic risk survey, but confidence in the UK financial system and funding markets rises
National Bank of Denmark rejects Liikanen report
Danish central bank governor says nations should be able to opt out of proposed Liikanen banking rules; favours bail-inable debt
ECB’s Cœuré champions retail payments integration
Benoît Cœuré says the Single Euro Payments Area increases efficiency and lowers costs; wants governing council to have a ‘self-regulatory focus’
Bank of Israel unveils details of new shekel banknotes
New banknote series to include security features that are ‘among the world’s most advanced’; first notes due to be introduced in second half of 2013
SNB’s Jordan warns against ‘overburdening’ monetary policy
Swiss National Bank chairman says macro-prudential instruments are better suited to address financial stability
Fed includes ‘doomsday scenario’ in next round of stress tests
Baseline, adverse and severely adverse scenarios specified in preparation for 2013 stress testing; 'severely adverse' would cover failure to resolve ‘fiscal cliff'
Svensson sheds light on Riksbank division
Sveriges Riksbank deputy governor explains schism in central bank’s monetary policy committee; says choice of repo-rate path is flawed
Basel Committee chief sets out next steps for regulation
Stefan Ingves reveals timescale for finalising liquidity coverage ratio and gives details of the Basel Committee on Banking Supervision’s agenda for 2013