Regulation
Revised Bank Secrecy Act Manual
A revised "Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual" has been issued. The manual, effective 1 August, provides current and consistent risk-based guidance for banking organizations to comply with the BSA and safeguard operations…
Reddy on banks and service to the common person
In the speech 'Banks and service to the common person' given on 1 July Y V Reddy of the Reserve Bank of India said the Reserve Bank has taken several regulatory initiatives including issuance of guidelines to banks on various customer-related issues.
Greek banking sector "needs supervision"
According to the commentary 'Our banking sector needs supervision', published Saturday 29 July, by the Kathimerini, the Bank of Greece is shirking its supervision responsibility.
IMF warns Poland over super-regulator
The International Monetary Fund has warned Poland that plans for a unified financial services supervisory agency could expose the system to political interference, the Financial Times reported.
FMC's Basel II Update
The Financial Markets Center published a new survey on Monday 24 July indicating that global implementation of Basel II capital standards is occurring at an uneven pace and only a minority of countries will meet the target starting date of January 2007.
BOJ strengthens internal regulations
The Bank of Japan's board approved internal rules on Friday 21 July that ban its leadership from engaging in most types of transaction.
SARB Bank Supervision Annual Report 2005
According to the South African Reserve Bank's Bank Supervision Department Annual report 2005, during 2005, the South African banking system remained stable, and, in general, banks were sound and continued to benefit from South Africa's economic health.
Iran doesn't need more central bank independence
According to the Mehr News Agency, Iran's deputy economy minister has said the Central Bank of Iran (CBI) does not need more independence.
Hedge funds will be regulated, one way or another
According to this article by Bloomberg, published Friday 14 July, although a US court blocked the Securities and Exchange Commission from regulating hedge funds, the business hasn't permanently escaped the grasp of regulators.
Barbados' Williams says hands off her staff
According to the Barbados Nation, the governor of the central bank of Barbados, Dr Marion Williams, has asked commercial banks to stop poaching her staff.
BMA's Al Sadah on Islamic financial services
In the speech 'Challenges facing the Islamic financial services industry' given on 11 June Anwar Khalifa Al Sadah of the Bahrain Monetary Agency said Islamic banking is dominated by small institutions.
Panel recommends BOJ disclosure rules
An advisory panel on Thursday 6 July recommended that the Bank of Japan should require its top officials to disclose personal financial assets.
Bies on the challenges of Basel II implementation
In the speech 'Addressing challenges raised by Basel II implementation' given on 4 July Susan Schmidt Bies of the Federal Reserve said US bank regulators are moving smoothly through proposed rules implementing Basel II bank capital standards and are on…
BOJ to bar private funds holdings - report
The Bank of Japan plans to prohibit its senior officers from trading in stocks and holding stakes in private investment funds, the Nihon Keizai Shimbun reported Wednesday 5 July, without identifying any sources.
Nigeria removed from FATF list
In an announcement issued on Friday 23 June the Financial Action Task Force (FATF) announced that Nigeria has been removed from the Non-Cooperative Countries and Territories (NCCT) list.
Fischer plans radical bank restructuring
Bank of Israel governor Stanley Fischer has announced a major structural reorganisation of the bank, according to this article by Haaretz, published Friday 30 June.
Portugal's Constancio on finance and regulation
In the speech 'Finance and regulation' given on 26 May Vitor Constancio of the Bank of Portugal addressed the issue of the role that Central Banks should have in relation to financial stability, even when they don't have the responsibility for…
Two governors at the Central Bank of Kenya?
According to the article "Shall we end up with two 'governors' at the central bank?" published by The East African Standard on Friday 16 June, Kenya's Minister for Finance has made a significant pronouncement regarding the future management of the…
ECB's Tumpel-Gugerell on the drivers of change
In the speech 'The drivers of change: regulation versus competition' given on 15 June Gertrude Tumpel-Gugerell of the ECB said the European case study shows that regulatory changes can have a very profound impact on the structure, profitability and…
Fed's Bies on mortgage lending practices
In the speech 'A supervisor's perspective on mortgage markets and mortgage lending practices' given on 14 June Susan Schmidt Bies of the Federal Reserve said a cooler US housing market could help achieve the goal of sustainable economic growth.
Zhou: China to reconsider financial service limits
People's Bank of China governor Zhou Xiaochuan told a banking conference in Beijing that China needs to reconsider regulations limiting the range of services banks and other financial institutions can offer.
HKMA announces formation of AML Working Group
The Hong Kong Monetary Authority announced Tuesday 13 June the formation of the Industry Working Group on Prevention of Money Laundering and Terrorist Financing. Functions include encouraging the sharing of AML experiences and techniques among authorised…
Comment: Fukui's gaffe
Bank of Japan governor, Toshihiko Fukui, faces an uncertain future following his admission of a supposedly unethical investment. Even though prime minister Junichiro Koizumi immediately jumped to Fukui's defence, pundits are already saying the incident…
Fed's Bernanke on modern risk management
In the speech 'Modern risk management and banking supervision' given on 12 June Ben Bernanke of the Federal Reserve said a sweeping regulatory plan to improve risk management for the country's largest and most internationally active banks is important to…