Regulation

Japanese regulator penalises Goldman

JAPAN - Japanese regulators slapped heavy penalties on Goldman Sachs on 27 June after the US bank admitted it had misquoted prices in the online warrants market in Tokyo, as reported in the FT London.

Bank of England - Financial Stability Review

RESEARCH - On 28 June the Bank of England published the latest Financial Stability Review for June 2001. The review contains five articles and the Bank's regular half-yearly assessment of risks to stability.

Raiding the central bank to pay the deficit, Egypt

ARTICLE - The official figures issued for the budget deficit only tell part of the story about the state of Egypt's finances. A close look at the pattern of government debt over the past three years suggests that the actual fiscal deficit has been in the…

Capital decision

ARTICLE - The Financial Times, London, on 26 June commented on the postponement by the Basle committee of banking supervisors of the introduction of the new rules on the amount of capital banks must hold.

Regulator unveils Japan bank stock buying fund

JAPAN - Japan's top financial regulator on 26 June unveiled plans for a fund to soak up massive amounts of shares owned by banks to cut their exposure to an uncertain stock market, giving Japan's economic reforms a nudge forward.

Basel II - Feedback to the Committee

The Basel Committee received over 230 comments on its January 2001 draft capital accord. All of these are posted on the Committee's website - we pick out some of hte notable comments.

Euro gives spur for updating

ARTICLE - The Financial Times, London on 21 June published an article on regulation by Vincent Boland. The article is subtitled 'IPO issuers face a range of standards and requirements in Europe. Meeting them is a costly and time-consuming exercise.

The challenges of universal banking

ARTICLE - Realising benefits of a universal banking system, such as a level playing field and economic development, can only be possible when the challenges and strategies to contain them are identified.

Basle 2 'rules will leave banks short of capital'

SWITZERLAND - New rules on the amount of capital international banks must hold have been criticised as failing to meet necessary standards for the regulation of the global banking industry. It is suggested that banks will have an incentive to 'game' the…

Improving Banking Supervision

BOOK - Improving Banking Supervision shows how greater market discipline can be used to help improve the quality of banks and their management in a world of increasing complexity, size and innovation.

World Bank cancels Barcelona conference

SPAIN - The World Bank has decided to suspend its Annual Bank Conference on Development Economics (ABCDE) in Europe, due to be held in Barcelona on June 25-27, to avoid protests from anti-capitalist groups that had stated their intention to disrupt the…

Currency Crises: the Role of Banks

This IMF working paper, by Piti Disyatat examines the aftermath of recent currency crises. Why did the developed countries which devalued during the ERM crisis fare so much better than those developing countries caught up in the Asian crisis of 1997-8?.

Readiness for euro may be falling

EUROPE - Fewer European companies say they are ready for the introduction of euro notes and coins now than a year ago, according to a survey of big businesses in the euro-zone.

Putting euro banknotes and coins into circulation

Speech - Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank delivered a speech at the Euro 2002 Information Campaign conference hosted by the Banco de Portugal on 15 May.

Basel Accord set to be softened

COMMENT - Discussions are under way within the Basel Committee on Banking Supervision on how to lessen the impact of their new capital rules after complaints that the new accord would create impossible demands on banks during recessions.

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