Regulation
The FSA sharpens its claws
The UK Financial Services Authority has signed a new agreement with the City of London police, which enhances its ability to pursue corporate criminals.
Basel II may feed volatility
Despite recognising that the new Basel accord is "widely viewed as a much needed effort to deal with the shortcoming of the current system", a recent working paper by the Bank of England (BoE) raises new concerns about how the accord may exacerbate…
Kohn to replace Gramlich on loan guarantee boards
Federal Reserve Board Chairman Alan Greenspan on Wednesday 17 August named Governor Donald L. Kohn to replace Governor Edward M. Gramlich as the Chairman's designee on four federal loan guarantee boards, effective 1 September.
Fazio should be forced out of the Bank of Italy
According to this article published on Monday 15 August, Antonio Fazio has tossed aside the few strict principles a central banker must follow. He has become an embarrassment, it says, and there is now no credible way he can remain in office.
MAS's Shanmugaratnam on money-changing businesses
In a speech given on 15 August Tharman Shanmugaratnam of the Monetary Authority Of Singapore said the Bill expands the scope of MAS' powers to revoke or suspend a money-changer's or remittance licence to include cases where the licensee has failed to…
Why do we regulate?
This article looks at the need to regulate banks. It quotes a recent paper which says it is difficult to identify a sound policy reason for regulating banks. We do so because we want to, not because we must, it says.
CITIC Securities to revamp China Securities
China's CITIC Securities Co confirmed media reports on Friday 12 August that it is teaming up with Jianyin Investment Ltd, an investment arm of the central bank, to restructure Beijing-based China Securities Co.
Philippines, EC sign anti-money laundering pact
The European Commission (EC) and the Philippines have signed a 73-million peso (1.33-million US dollars) financing agreement to assist with the country's anti-money laundering drive, Foreign Affairs Secretary Alberto Romulo has said.
Kosovo's BPK unlikely to become central bank
The head of Pillar IV has said the Banking and Payment Authority of Kosovo (BPK) will not be denominated as the central bank.
Christopher Cox sworn in as SEC chairman
With his wife Rebecca standing at his side, Christopher Cox took the oath of office to become the 28th Chairman of the Securities and Exchange Commission from Federal Reserve Chairman Alan Greenspan on Wednesday 3 August.
Bank of Italy under siege
The trials and tribulations of Antonio Fazio, governor of the Bank of Italy, have raised many disturbing questions regarding the governance of Italy's central bank and of its regulatory system. This is a very sad business. This is the first of a new…
Basel Committee corporate governance practices
The Basel Committee on Banking Supervision has issued for public comment revised guidance to help promote the adoption of sound corporate governance practices by banking organisations.
PBOC's Ning on China's bond market
In the speech 'Promoting actively development of China's bond market' given on 15 July, Su Ning of the People's Bank of China said he is confident that, with the efforts of all parties in China's bond market, the Chinese bond market is bound to see a…
Spain suggests supervisory appointment changes
Julio Segura, director of the Bank of Spain, has recommended a few changes to the way that appointments are made for executives of regulatory and supervisory boards.
Israel's Fischer on capital market reforms
In the speech 'Capital market reforms in Israel' given on 5 July, Stanley Fischer of the Bank of Israel said the stability of the banking system will not be affected by the separation of the provident funds and mutual funds from the banks.
Albania's Fullani on banking supervision
In the speech 'Cooperation in the field of banking supervision in Albania' given on 11 July, Ardian Fullani of the Bank of Albania said we have established contacts with all the central banks of the region, up to the high levels of representation and I…
Brazil cb and Congress to improve bank controls
Brazil's central bank and lawmakers will seek ways to improve control over the financial system, the bank said in a statement sent by e-mail.
Risk management and regulation in banking
A joint workshop by the Basel Committee on Banking Supervision, the Centre for Economic Policy Research (London), and the Journal of Financial Intermediation, will be held at the Bank for International Settlements, Basel, Switzerland, 29-30 June 2006.
Albania's Fullani on the fight v. money laundering
In the speech 'The fight against money laundering' given on 22 June, Ardian Fullani of the Bank of Albania said the Bank of Albania as the supervisory institution of its licensees will promote a stronger contribution by banks in Anti Money Laundering…
EU regulator warns bank chiefs over consolidation
One of the European Union's most senior banking supervisors has warned against interference in the consolidation of the continent's banking industry.
Minneapolis Fed's Stern on 'Too big to fail'
In the speech 'Too big to fail' given on 2 June, Gary Stern of the Federal Reserve Bank of Minneapolis said too big to fail (TBTF) is an important public policy issue and one which has received insufficient attention to date.
China easing forex controls to help overseas firms
China will loosen its foreign exchange controls to give more financing support to overseas Chinese companies as the central government moves to encourage domestic firms to invest abroad, the official Financial News reported, citing a government official.
RBI's Leeladhar on challenges in banking security
In the speech 'Challenges in banking security' given on 22 June, Shri V Leeladhar of the Reserve Bank of India said that most cyber crimes in the financial sector involved an insider element of the institution concerned.
Paper on bank supervision Russian style
The Working Paper "Bank supervision Russian style: Rules vs enforcement and tacit objectives" from Ghent University published May 2005 focuses on the conflict between two central bank objectives, namely individual bank stability and systemic stability.