News
Irish regulator lacked 'capacity and will' pre-crisis admits Elderfield
Ireland's chief regulator has provided more detail on the recent stress tests carried out by the central bank of Ireland and plans to increase the powers of the body
Sweden picks famous faces for new banknotes
Riksbank announces motifs to be emblazoned on new banknotes; include actress Greta Garbo, author Astrid Lindgren and singer Birgit Nilsson
SNB bans Tepco debt as collateral
Swiss National Bank places Tepco debt on its list of collateral excluded from use in open market operations
Basel Committee’s Walter: consensus reached on method to identify Sifis
Basel Committee has now agreed on criteria for banks posing systemic threat; FSB agrees on accelerated timetable for G-20 recommendations
Ireland’s Elderfield: we’ll not haircut senior debt
Matthew Elderfield, Ireland’s head regulator, assures senior bondholders in four banks they will not face “action”
Risk Europe: S&P slammed for linking Greece, Portugal downgrades to ESM
Eurozone bail-out vehicle doesn't hurt existing bondholders, EC official argues
UK FSA and Treasury say covered bondholders should escape bail-ins
British authorities offer six recommendations for regulatory change; signal covered bondholders will not be hit by bail-ins
New York Fed to set up working group on OTC reforms
New York Federal Reserve receives commitment from market participants to support strategic road map on reforms to over-the-counter derivatives markets
Riksbank report examines links between housing and financial stability
Report notes that housing slumps seldom result in banking crises outside the US; highlights data deficiencies
IMF moots policy framework for capital inflows
Fund devises “key elements” of possible policy framework for managing capital inflows; framework notable in allowances for capital controls
Risk Europe: Tension between the ESRB and ECB, says Belgium's Reynders
Europe's new systemic risk watchdog is already clashing with the ECB - but the ESRB's powers may need to be expanded, says Belgian finance minister, Didier Reynders
Bernanke pledges tough oversight of CCPs
Federal Reserve chairman Ben Bernanke says reforms to financial market infrastructure will help strengthen supervision of central counterparties
Moody’s downgrades Portugal again
Moody’s cuts Portugal’s credit rating by one notch to Baa1 as political uncertainty continues to cloud medium-term financing
Risk Europe: Tweaks to Basel III will raise deadline pressure for banks
Changes to the detail of Basel III will make timely implementation a challenge, say attendees at Risk Europe
Banque de France profits remain elevated on back of euro note increase
Annual report delivers news that profit at the Banque de France remains high this year. Net profit is €2.56 billion, profit before tax is €4.5 billion
Risk Europe: no-go on CoCos, says panel
Traditional investors won't be won over by debt that converts into equity, says conference panel - and one CoCo issuer raises threat of feedback effects
Fed chooses new chief operating officer
Atlanta businessman Richard Anderson will become chief operating officer of the Federal Reserve System later this month
Wellink challenges ECB bond purchase programme
Netherlands Bank governor Nout Wellink calls for reduction of European Central Bank support in bond markets
Israel’s Fischer picks inaugural members of monetary committee
Bank of Israel announces members of new Monetary Policy Committee; new senior adviser and proposed deputy governor will join him on final panel
US lawmaker responds to Greenspan attack on Dodd-Frank
Former chairman of the House Financial Services Committee Barney Frank answers Alan Greenspan criticism of Dodd-Frank; launches own attack on former Fed chairman
Risk Europe: 'Humble' Basel Committee open to liquidity rule changes
The Basel Committee's Stefan Walter says door is open to changing LCR and NSFR - but it's not open wide
Lawmakers say competition in UK retail banking “non-existent”
Report by parliamentarians says pre-conditions for effective competition in retail banking market "not present”; calls for test for proposed future divestments of government-held stakes in banks
Risk Europe: Dodd-Frank rating requirement has competitive implications under Basel III
Requirement under the Dodd-Frank Act to eliminate any reliance on external credit ratings could put US banks at a competitive disadvantage under Basel III, says the Basel Committee’s Stefan Walter
Fed reveals details on emergency funding recipients
Federal Reserve releases information on banks’ discount window activity during crisis; ends 28 month-long dispute with Bloomberg