Regulation
Committee reports continued progress on Basel II
The Basel Committee on Banking Supervision reported on Thursday 15 January that it continues to make progress following the agenda established in Madrid last October.
Le Pan on the future of regulatory capital
In a speech on "The future of regulatory capital: targeting a consistent regulatory approach on a regional and functional basis" Nicholas Le Pan, Superintendent of the OSFII, talks about promoting consistency with the new Basel Capital Accord.
Bank of England faces criticism in BCCI case
The billion-pound law suit against the Bank of England over its part in the world's biggest banking fraud began on Tuesday 13 January with criticism of the 300-year-old central bank.
Pakistan to bring in new bank monitoring system
The State Bank of Pakistan said on 9 January that it is to introduce a new system of surveillance, monitoring and supervision of banks.
Bank of England court case set to begin
The Bank of England will go to court for the first time in its 300-year history on Tuesday 13 January when it defends its role in the £10bn collapse of the Bank of Credit & Commerce International.
Regulatory reform may face delay in Italy
The Italian government is unlikely to debate a regulatory reform bill this week and instead will wait for Parliament to finish an investigation, a minister said.
Italy plans new financial regulator
Italian finance minister Giulio Tremonti has said he wants a new financial regulator which will have authority over whole spectrum of financial services to reduce risks of another Parmalat-type scandal.
Hong Kong measures its banking supervision
The Hong Kong Monetary Authority (HKMA) has released its annual assessment as to how how well local banks are meeting the Banking Code. According to the HKMA Hong Kong banks are nearly fully compliant.
Yam reviews financial stability arrangements
In his weekely web column, Joseph Yam, chief executive of the Hong Kong Monetary Authority reviews how the HKMA monitors financial stability through its new regular "Financial Stability Report".
RBNZ mulls ANZ takeover
ANZ Banking Group has until Christmas to convince New Zealand's reserve bank about its plans for taking over the National Bank. Following the passage of a new Reserve Bank Act in August, the RBNZ must approve large-bank mergers in New Zealand.
Limit foreign takeovers, says Korean central bank
The Bank of Korea expressed its concern over growth in foreign ownership in the country's financial system on 21 December and called on the government to delay the privatisation of banks so that domestic buyers could be found.
Iran's money laundering bill in final stages
Training workshops for professionals could eliminate money laundering from Iran's financial system, according to deputy Governor of the Central Bank of Iran, Akbar Komeijani. "Events of September 11, 2001 in the US have sped up the process of passing…
Norway's Bergo on Crisis Resolution
In a speech on 'Crisis Resolution and Financial Stability in Norway' given on 10 December, Jarle Bergo of Norges Bank said banking crises have occurred at irregular intervals as long as banks have existed. And it could happen again. We need to be…
Spain's Caruana on int. market discipline
In a keynote speech at the Conference "Market Discipline: The Evidence across Countries and Industries" given on 1 November, Jaime Caruana of the Bank of Spain said that although banks and supervisors have much to do in the years ahead, we are confident…
Nyberg on financial stability surveillance
In a speech on 'Financial stability surveillance, Some Swedish experience' given on 10 December, Lars Nyberg of the Sveriges Riksbank said central banks need to acquire a better understanding of how the banks manage their liquidity, how they select their…
Caruana on the New Basel Capital Accord
In a speech to the Fifth Meeting of the Asian Program of the Institute of International Finance given on 17 November, Jaime Caruana, Chairman of the Basel Committee on Banking Supervision, said three words have guided our work on the New Accord, namely…
Kazakhstan to create financial market regulator
Kazakhstan National Bank Chairman, Grigory Marchenko, has said the central bank has decided to establish a special agency to regulate the Kazakhstan financial market, subordinate to the President, in January 2004, according to a report by the Times of…
Offshore centres complain to WTO re FATF
A group of offshore centres have lodged a complaint with the World Trade Organisation (WTO) about the imposition of international money laundering rules by the FATF, Basel committee and OECD.
Former Boston Fed boss to head Freddie Mac
Richard Syron, president of the Boston Fed from 1989-94 and in charge during the bailout of New England's largest bank, was appointed chief executive and chairman of Freddie Mac on Sunday 7 December.
BIS Quarterly Review - Dec 2003
The latest quarterly offering from the BIS includes updates on the world economy, international banking, debt and derivative markets as well as special features on the credit spread puzzle; common factors in emerging market spreads; sovereign credit…
Should BOT be a watchdog?
This article published in The Nation, Thailand, asks whether a country's central bank should be involved with banking supervision. It looks at the moves to separate the supervision function from the central bank in countries such as Canada and…
New Chairman of the Joint Forum
Gay Huey Evans, Director of Markets at the UK Financial Services Authority, will succeed Jose Maria Roldan as Chairman of the Joint Forum, a group of experts working under the umbrella of the Basel Committee on Banking Supervision in January 2004. She…
Hardest working man in central banking
The title undoubtedly goes to Jaime Caruana, governor of the Bank of Spain, chairman of the Basel Committee on Banking Supervision, and a member of the governing board of the European Central Bank. The frequent flyer miles are piling up as Mr Caruana…
BSP and SEC will jointly oversee money changers
Bangko Sentral ng Pilipinas and the Securities and Exchange Commission have agreed jointly to monitor operations of money changers and non-bank remittance centers. The central bank will regulate these firms while the SEC will supervise them, BSP governor…