Regulation
Fed governor testifies on Basel II
Federal Reserve governor Susan Schmidt Bies testified on 10 November before the US Senate committee on banking, housing, and urban affairs on the implementation of Basel II and revisions to Basel I.
McCreevy favours legal action over Fazio
European Union (EU) internal market commissioner, Charlie McCreevy, said on Tuesday that he favoured legal action against Italy over the way the country's central bank handled two foreign bank takeover bids earlier this year.
EC report on lack of financial sector integration
The European Commission has presented a preliminary analysis of why there has been little cross-border consolidation in the EU financial sector.
Kosovo to establish central bank by end of 2006
The Banking and Payment Authority of Kosova will be transformed into the Central Bank of Kosovo by the end of next year, the BPK and the Ministry of Economy and Finance were quoted as saying by KosovaLive.
Spain's Caruana on banking supervision in Europe
In the speech 'The future of banking supervision in Europe' given on 28 October Jaime Caruana of the Banco de Espaa said more efficient supervision is a necessary - although not sufficient - condition for a more integrated market.
ECB's Tumpel-Gugerell on global financial markets
In the speech 'Global Financial Markets 2015: looking ahead' given on 28 October, Gertrude Tumpel-Gugerell of the ECB said more cross-border consolidation is needed in the European banking sector, to take advantage of increasing financial integration.
ECB's Papademos on banking supervision
In the speech 'Banking supervision and financial stability in Europe' given on 28 October Lucas Papademos of the ECB said the ECB supports an 'evolutionary' approach to banking supervision, as opposed to a 'revolutionary' approach.
Russia, China set to sign banking agreement
The Russian central bank and the Chinese Banking Regulatory Commission are expected to sign an agreement during the visit of Russian Prime Minister Mikhail Fradkov to China on 3-4 November.
Tumpel-Gugerell on regulation in EU banking
In the speech 'Regulation, competition and integration in EU banking: What drives performance? - Revisiting Freiburg' given on 21 October Gertrude Tumpel-Gugerell of the ECB said there is excess capacity in the European banking sector and further…
McCreevy on financial regulation and integration
In the speech 'Financial regulation, integration and competitiveness' given on 17 October Charlie McCreevy of the Central Bank of Ireland said that the supervisory approval process for financial sector acquisitions in many member states is often long,…
OECD Working Group on Bribery concerned by Czechs
The OECD Working Group on Bribery issued a letter on Friday 21 October to the Czech authorities, outlining its serious concerns on the failure by the Czech Republic to comply with its international obligations.
BIS appoints Daniel Lefort as General Counsel
The Board of Directors of the Bank for International Settlements announced the appointment of Daniel Lefort as General Counsel on Tuesday.
Russian central banking project near completion
A two-year training project in the area of banking supervision in Russia, financed by the European Union, is coming to an end, the European Central Bank announced on Thursday 13 October.
Fed's Bies on regulatory issues
In the speech 'Regulatory issues' given on 12 October Susan Bies of the Federal Reserve said banks were taking increased risks in real-estate lending, adding they could be hurt if interest rates rise or home prices decline.
Buba's Zeitler on combating counterfeit money
In the speech 'Strategies for combating counterfeit money in Germany' given on 5 October Franz-Christoph Zeitler of the Bundesbank said preventing and combating counterfeits remains an ongoing task for central banks.
Somali central bank chief sacked by president
The president of the Transitional Federal Government of Somalia, Abdullahi Yusuf Ahmad, has fired the governor of the Central Bank of Somalia, BBC Monitoring reported from a report on the Shabeelle Media Network's website.
Cleveland Fed sued over racism claim
The Equal Employment Opportunity Commission has sued the Federal Reserve Bank of Cleveland, according to a report for the Akron Beacon Journal on the ohio.com website.
Brazil's Meirelles won't run for office in 2006
The president of Brazil's central bank, Henrique Meirelles, has ruled out joining a political party, a move which would have allowed him to run for office next year.
BIS's Knight on global banking - paradigm shift
In the speech 'Global banking - paradigm shift' given on 5 October Malcolm Knight of the BIS said the three-pronged approach of Basel-II implementation represents a much more comprehensive method in the present-day complex banking situation.
Buba's Meister regrets US delay on Basel II
A European Central Bank official responsible for bank oversight, Bundesbank board member Edgar Meister, said on Wednesday 5 October that the delay in implementing parts of Basel II in the US was regrettable.
Comment: The Old Lady stands her ground
The Bank of England's decision to turn down a settlement offer from the Bank of Credit & Commerce International's (BCCI) liquidator, Deloitte, in the ongoing litigation case related to the BCCI's collapse in 1991, shows how tough the Bank can be when…
St Louis Fed's Regional Economist, October 2005
The Regional Economist, October 2005 edition, from the St Louis Fed includes the article "Gramm-Leach-Bliley turns 5". More than five years have passed since Congress enacted the Gramm-Leach-Bliley Act, tearing down regulatory barriers that separated…
ZABG illegally acquired bank assets
The Reserve Bank of Zimbabwe's economic turnaround strategy was dealt a severe blow recently when a Supreme Court ruling found that its "Zimbabwe Allied Banking Group" (ZABG) had illegally acquired assets from collapsed commercial banks.
Comment: When will Basel II bite
The Basel committee's members are committed to implement their new capital accord in just 15 months. The basic framework should go live on January 1, 2007; with the most advanced approaches following at the end of 2008. But what about those non-member…