Regulation
Syria, Lebanon sign memorandum on money laundering
Syria and Lebanon signed a memorandum of understanding on Wednesday 24 May to fight money laundering and terrorist financing, the Syrian News Agency SANA reported.
Singapore, Thai central banks sign supervisory MOU
Singapore and Thailand have signed a memorandum of understanding (MOU) for banking supervisory cooperation between the two countries, the MAS said Thursday 25 May.
China will strictly control new bank loans
China's banking regulator said in a statement published Thursday 25 May that it will strictly control the issuance of new loans.
Geithner on financial supervision and regulation
In the speech 'Principles to guide the future evolution of financial supervision and regulation' given on 19 May Timothy Geithner of the Federal Reserve Bank of New York said US financial institutions need to examine "the frontier of risk" to make sure…
Fed's Lacker on the evolution of consumer finance
In the speech 'The evolution of consumer finance' given on 18 May Jeffrey Lacker of the Federal Reserve Bank of Richmond said a wave of innovation in consumer credit markets has driven a surge in credit availability for the average consumer, but that…
Qatar appoints Lord Woolf to regulatory tribunal
Lord Woolf, formerly Lord Chief Justice, is to be appointed as the senior judge for Qatar's new financial centre. He will become the first President of the Qatar Financial Centre (QFC) Tribunal, which he will help establish, and he will preside over…
Nout Wellink to chair Basel Committee
The Group of Ten (G10) central bank governors and heads of banking supervision said Friday 19 May that they have appointed Nout Wellink, President of the Netherlands Bank, as the new Chairman of the Basel Committee on Banking Supervision.
Fed's Bernanke on Basel II
In the speech 'Basel II: Its promise and its challenges' given on 18 May Ben Bernanke of the Federal Reserve said federal banking regulators will press ahead on a sweeping plan aimed at improving risk management for the country's largest and most…
Fed's Bies on implementing Basel II
In the speech 'Implementing Basel II: Choices and challenges' given on 16 May Susan Schmidt Bies of the Federal Reserve said the Federal Reserve will conduct "ongoing, detailed" analyses to ensure new bank capital rules, when implemented, do not lead to…
Why India badly needs a new financial regulator
With two of its stock markets now among the world's five most active, India badly needs a modern financial regulator, according to this article published Thursday 4 May.
Norway contributes to UN principles on investments
Norges Bank published the document "Principles for Responsible Investment" on Thursday 27 April. The principles were developed by an international group of major institutional investors, on the basis of an initiative by the UN.
Fed's Bies on enterprise risk management
In the speech 'A bank supervisor's perspective on enterprise risk management' given on 28 April Susan Schmidt Bies of the Federal Reserve said the fast growth in commercial real estate lending by U.S. banks could lead to problems somewhere down the road.
Capital accord or capital discord?
According to this recent article, preparations for the new capital accord continue but there are growing fears among bankers and their supervisors that its inconsistent implementation around the world will cause problems.
Comment: A 'new multilateral approach'
The weekend's announcement of an enhanced IMF role in "multilateral surveillance and consultation" is an important conceptual shift in the way the Fund operates. It is also the closest leading economic leaders have come to acknowledging that global…
PBOC proposes new anti-money laundering rules
The People's Bank of China has proposed new anti-money laundering regulations aimed at the banking, insurance and securities sectors.
Cyprus-Armenia sign central bank MOU
The central banks of Cyprus and Armenia on Thursday 13 April signed a memorandum of understanding (MOU) to boost cooperation in the banking sector.
Comment: BCCI case 'a farce'
According to the presiding judge, the case brought against the Bank of England by Deloitte, liquidators for the Bank of Credit and Commerce International (BCCI), was "a farce" which "had the capacity to damage the reputation of [the British] legal system…
BCCI case was built on air - not even sand
Publication of the formal judgment on Wednesday 12 April finally brought to an end the BCCI litigation case against the Bank of England described as a myriad of "hopeless inconsistencies and implausibilities".
Fed's Olson on compliance-risk management
In the speech 'Enterprise-wide compliance-risk management' given on 10 April Mark Olson of the Federal Reserve said banks and other financial services firms need to bolster their compliance and risk management activities by turning them into…
Zeti at the Education in Islamic Finance launch
In a speech at the launching of The International Centre For Education In Islamic Finance (INCEIF) given on 23 March Zeti Akhtar Aziz of the Central Bank of Malaysia said in meeting the objective of providing a total talent management solution for the…
Fed's Bies on recent regulatory proposals
In the speech 'A risk-management perspective on recent regulatory proposals' given on 10 April Susan Schmidt Bies of the Federal Reserve said that banking supervisors were concerned that lenders might be relaxing some terms more than was healthy for them…
Comment: Sparks continue to fly in Poland
Sparks continue to fly between the president of the National Bank of Poland, Leszek Balcerowicz, and the ruling Law and Justice Party. While a controversial bank merger, which the government tried to block, has now been approved, tension remains high as…
Basel Committee seeks comments
The Basel Committee on Banking Supervision on Thursday 6 April issued for public comment updated versions of the 1997 Basel Core Principles for Effective Banking Supervision and the 1999 Core Principles Methodology.
Jersey co-operation with Qatar Central Bank
The Jersey Financial Services Commission and the Qatar Central Bank signed a Memorandum of Understanding on Friday 31 March.