News
India tightens loan-to-value ratios
Reserve Bank of India sets out higher loan-to-value ratios on housing loan exposures; central bank also hikes as inflation, inflation expectations, remain high
SNB council member to step down next April
Swiss National Bank’s Armin Jans to resign from Bank Council after 12 years in role
Luxembourg’s Mersch condemns Basel III bias
Central Bank of Luxembourg governor Yves Mersch says Basel III will be more detrimental to European banks than US lenders; echoes bankers’ concerns on lending to small and medium enterprises
Abandon theory, Sheng urges central bankers
Andrew Sheng says current generation of central bankers became so enamoured with models they missed bigger picture; says there will be a great need for discretion, not rules, in future
Bini Smaghi attacks watered-down EU fiscal sanctions
European Central Bank executive board member Lorenzo Bini Smaghi criticises EU proposals to have option to apply veto on excessive deficit sanctions
Iran makes substantial shift into gold: reports
Tehran news agency reports central bank governor Mahmoud Bahmani as saying around 15% of foreign exchange reserves have been moved into gold
Roubini: Eurozone restructurings will leave bondholders facing losses
Government debt levels in peripheral Europe mean restructurings cannot be avoided, says economist Nouriel Roubini.
Strong dollar sees RBA book record A$3.8 billion hit
Reserve Bank of Australia reports biggest ever loss of A$3.8 billion as foreign exchange reserves slide on domestic currency strength
Financial sector deepening crucial for Africa: ex-Ghana deputy
Former Bank of Ghana deputy governor Mahamudu Bawumia says bringing financial services to rural populations is key
Sigtarp criticises Treasury's bailout accounting
AIG investment cut from $45 billion loss to $5 billion loss following accounting change, report claims
Ireland to raise consumer protection standards
Central Bank of Ireland proposes rules requiring firms to be tougher when selling products to customers
SocGen chief Oudéa to head key IIF committee
Société Générale chairman and chief executive Frédéric Oudéa will head Institute for International Finance’s influential committee on regulatory capital
Fed backs down in Supreme Court battle with Bloomberg
Federal Reserve drops appeal against ruling forcing it to reveal names and details of banks that borrowed in crisis; move draws Fed’s involvement in two-year long battle to a close
Iosco issues guidelines to crack down on dark pools
International Organisation of Securities Commissions solicits comment on how to regulate dark liquidity
Central banks, markets must cut ratings reliance: FSB
Financial Stability Board publishes principles to roll back the influence of credit ratings agencies
Homogeneous regulations could contribute to risk, says former Brazil central bank chief
Arminio Fraga warns about the use of globally standardised methodologies for regulatory capital, as well as the dangers of multiple central counterparties
Bank of Mexico to publish minutes of rate-setting meetings
Release of monetary policy minutes will boost transparency says central bank; rate-setters’ votes not to be disclosed, however
Bank’s Bean points to problems in measuring spare capacity
Bank of England deputy governor Charles Bean says difficulty in measuring spare capacity creates imprecise data
Bank to increase £5 notes in circulation
Bank of England will increase number of smallest banknotes in circulation; will also increase number of automated tellers dispensing the note
I’m sticking to my guns: Buba’s Weber
Bundesbank president Axel Weber says future career prospects will not change his outspoken nature
Cebs says work on supervisory colleges is accelerating
Cebs secretary-general Arnoud Vossen, in an interview with Operational Risk & Regulation, says work on improving supervisory colleges is speeding up
EPC chairman 'shocked' at Brussels' 'competing' Sepa schemes
European Payments Council chair slams European Commission's willingness to allow operation of multiple, national Sepa schemes; says plan would thwart aims of Sepa
Sheng, Lemierre: finance must shift to serve real economy
China Banking Regulatory Commission's Andrew Sheng and BNP Paribas's Jean Lemierre say speculation must be quelled; Sheng urges Asia to develop investment banking industry, create regional champions
ECB announces baseline T2S price of €0.15
Settlement platform’s Programme Board proposes to fix fee for settlement until 2018; price not dependent on UK volumes, says ECB