Regulation
Basel Committee considers IFRS
The Basel Committee on Banking Supervision has been considering the potential impact the implementation of certain International Financial Reporting Standards (IFRS) may have on regulatory capital and whether it should be adjusted, in response.
Ireland's Hurley on the role of the central bank
In a speech on 'The role of the central bank and the current issues being considered by the Financial Services Regulator' given on 1 June, John Hurley of the Central Bank and Financial Services Authority of Ireland put the role of the Central Bank in…
BOT profits hit by exchange rates
The Bank of Thailand's (BOT) annual report recorded Bt5 billion net profit for 2003, a sharp drop of 58 per cent from the previous year, attributed to foreign exchange losses and lower interest income.
RBA's McKibbin barred from providing advice
The Governor of the Reserve Bank of Australia, Ian Macfarlane, blocked board member Warwick McKibbin from advising a residential home equity fund, the Sydney Morning Herald reported this week.
Fed's Bies on accountancy reform
In a written statement on IASB reform given on 3 June, Susan Schmidt Bies of the Federal Reserve said the Federal Reserve strongly supports efforts to enhance the oversight activities of the IASCF and the standards-setting processes of the IASB. Such…
Irish financial regulator to get new powers
Ireland's new financial regulator is to be given powers to fine and name offending institutions under draft legislation going through the Irish parliament, the Dail, this week, according to the Financial Times on Friday4 June.
Supervision of banks paying off reports CBRC
The China Banking Regulatory Commission (CBRC) said Thursday its recent efforts to strengthen the supervision of banks and contain their lending risks have shown good results, according to Friday's China Daily.
Fed's Bies on Bank Secrecy Act enforcement
In testimony on 'Bank Secrecy Act enforcement' given on 3 June, Susan Schmidt Bies of the Federal Reserve said the Federal Reserve has expanded its anti-money laundering program "dramatically" in the last 10 years and urged U.S. banks to take steps to…
CBK to get increased regulatory powers
Under proposed changes, the Central Bank of Kenya will have additional powers to monitor and regulate the banking industry. The ministry of finance will transfer banking licensing, regulation and disciplinary authority to the CBK, the East African…
Report says Basel II will cost banks 20-30bn euros
Applying capital requirements under a new accord drafted by the Basel committee should cost European banks 20-30 billion euros between 2002 and 2006, a study prepared for the European Commission has estimated.
Philippines may stay on FATF list
The Philippines may have to wait another year before it can be removed from the list of so-called "uncooperative" countries by the Financial Action Task Force (FATF,) Governor Rafael Buenaventura of the Bangko Sentral ng Pilipinas said Monday 31 May.
Geithner: Perspectives on the US financial system
In a speech on 'Perspectives on the U.S. Financial System' given on 27 May, Timothy Geithner of the New York Fed said banking supervisors are engaged in a never-ending "arms race" with the increasingly complex financial system they are supposed to…
Exchanging views on central banking issues
At the opening on Tuesday 25 May of the Joint Eurosystem, Bank of Russia Seminar in Helsinki the participants were welcomed by Matti Louekoski, Acting Governor of the Bank of Finland. He stressed that the Russian Federation has been enjoying rapid…
Beijing forum on banking and finance opens
four hundred bankers from China and overseas, financial institution representatives and banking supervisors gathered in Beijing on Wednesday 19 May to discuss China's banking and financing issues at a high-profile forum.
Fed's Bies on corporate governance
In a speech on 'Corporate Governance: Where Do We Go From Here?' given on 19 May, Susan Schmidt Bies of the Federal Reserve repeated on Wednesday that banks involved in setting up structured finance deals need to ensure they are undertaken for proper…
China's PBOC considers new plan on NPLs
The People's Bank of China is considering adopting an aggressive new strategy to offload another 200 bln yuan in non-performing loans (NPLs) from the Bank of China and China Construction Bank, as the government steps up its efforts to clean up the nation…
SARB Financial Stability Review, March 2004
The South African Reserve Bank has published the first edition of its Financial Stability Review for March 2004. This explains some of the approaches used in both a quantitative analysis of the various financial-stability indicators and a qualitative…
IMF urges better bank monitoring in NZ
The Reserve Bank of New Zealand's monitoring of banks may not give enough information "at the onset of a sudden crisis", according to the International Monetary Fund.
Trichet on the current state of EU banking sector
In a speech on 'The current state of the EU banking sector' given on 5 May, Jean-Claude Trichet of the ECB said a number of challenges remain both for banks and authorities, in particular, in the structural domain. Several EU countries are still faced…
Basel II talks over by end June - Caruana
Financial regulators expect to end talks to redraft global banking regulations, known as Basel II, by the end of June, Jaime Caruana, head of the Basel Committee on Banking Supervision, was quoted as saying on Tuesday 27 April.
Sweden's Heikensten on European banking
In a speech on 'The Integration of European Banking: Some Regulatory Challenges' given on 21 April, Lars Heikensten of the Sveriges Riksbank said in order to gain the full benefits of financial integration, we must build a regulatory framework which…
Malaysia to adopt 2-phase Basel II approach
Malaysia will adopt a 2-phase approach towards the Basel II banking accord, said Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.
Basel supervisors urge more work on terror funds
Top banking supervisors on Wednesday called for more action to deprive terrorists of funding by sharing information and cracking down on informal money transfer networks.
Abu Dhabi to host hawala conference in April
The United Arab Emirates central bank will hold the Second International Conference on hawala in Abu Dhabi on 3rd & 4th April, 2004.