Regulation
Goodhart hits out at current macro-prudential focus
Economist Charles Goodhart agrees with Robert Pringle that risk and return incentives need to change at banks to ensure future financial stability. But permitting failures is a step too far
Volcker rule will not be ready for July, Fed chair admits
Expert predictions of delayed start date proven correct
Chinese government hampering financial industry, World Bank warns
New World Bank report sees flaws in China's regulatory system
Regulators ignore data challenges at their peril, say CBJ authors
Standards-setters around the world seeking to improve financial stability are destined to fail unless they can get to grips with core data needs, according to the authors of a new Central Banking Journal article
Boston Fed paper evaluates impact of accounting standards on institutions
Boston Fed researcher finds that implementing fair-value accounting may not necessarily provide financial statement users with more transparent and useful reporting
De Larosière fears another crippling credit crunch in Europe
New international banking regulations aimed at cleaning up the financial system could cause a crippling credit crunch in Europe, says Jacques de Larosière
HKMA’s Chan says fiscal cuts are essential for Europe
Hong Kong Monetary Authority chief executive Norman Chan says Europe must make deep fiscal cuts to regain market confidence. Talks about macro-prudential regulation, the Hong Kong dollar peg and the internationalisation of the renminbi
Macro-prudential powers are no panacea
Central banks will take on substantial new macro-prudential supervisory powers in the years ahead. But this is a dangerous experiment, and a step in the wrong direction
HKMA head Norman Chan on bank regulation and the renminbi
Chief executive tells Christopher Jeffery that central bankers need to be proactive in dealing with asset bubbles. He also explains Hong Kong’s role in the renminbi's internationalisation
New fault lines in financial regulation
Deleveraging could trigger another crippling credit crunch in Europe at a time when the recovery is still fragile. By Jacques de Larosière
IMF paper investigates valuation impacts of geographic diversification
Paper finds shareholders are less able to monitor firm executives in diverse bank holding companies; allows corporate insiders to extract larger private benefits
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
US Treasury clarifies sanctions on Central Bank of Iran
US issues detailed list of frequently asked questions; says assessment of which transactions fall under sanctions will be done on case-by-case basis
Central Bank of Ireland reveals enforcement priorities
Irish central bank tells financial service providers what it will focus on in terms of enforcement actions in 2011; warns reactive enforcement will also occur outside of set priorities
Overburdensome regulation can generate shadow activities, says IMF paper
Fund study says institutions have a larger influence on the size of the underground economy than on tax rates
IMF paper captures spillover effects from tougher capital rules
Fund study shows international spillover effect from higher capital requirements typically account for 20-25% of the total impact on output
EU vows fresh sanctions against Syrian central bank
European Union due to impose freeze on Central Bank of Syria's assets as part of efforts to strengthen sanctions against the Syrian government
Renminbi restrictions pose obstacle to internationalisation of currency, says BoJ’s Nishimura
Bank of Japan deputy governor Kiyohiko Nishimura says renminbi internationalisation is ‘implausible’ without significant capital-flow deregulation
BoE’s Salmon urges regulators to resist watering down reforms
Bank of England executive director Chris Salmon says regulators must withstand pressure to water down reforms and instead provide longer transition periods
FSA chief hails new twin peaks approach to regulation
Financial Services Authority head Hector Sants says approach to supervision of banks in the UK will be more proactive and judgement-based; warns of 'tick box' approach to regulation in Europe
Italian banks may need state aid to hit 9% core capital, says Saccomanni
Bank of Italy director-general says country’s banks may require government assistance to meet stricter 9% core Tier I capital ratio; new deputy director Salvatore Rossi optimistic growth outlook
Czech central bank concerned over Esma's power
National supervisors should be responsible for their domestic institutions, says Czech National Bank