Regulation
Comments on Basel II
The Basel Committee on Banking Supervision has published on the BIS website the comments received on the latest version of the long-awaited new capital rules.
Basel updates know-your-customer rules
The Basel Committee on Banking Supervision has proposed an undated set of know-your-customer rules desinged to stop large international banks being used by criminals or terrorists.
Nigerian cb branded reckless and inefficient
The central bank in Nigeria has been denounced for its "recklessness and managerial inefficiency" by a member of the House of Representatives, which he says explains the sorry state of the banking sector, according to a report in the Daily Champion,…
BIS on cross-border cooperation for Basel II
The Bank for International Settlements today issued a report outlining principles for closer cross-border cooperation between supervisors on the new Basel Accord.
The ECB's mission statement
Five years after its creation the ECB has decided it needs a mission statement. Its main objective is, of course, price stability, with "integrity, competence, efficiency and transparency" as its watchwords. But there is no place in the two paragraphs,…
Boards should not escape the Basel shake-up
In parallel with Basel II's emphasis on risk measurement and supervisory review, a crucial aspect of regulation should be to ensure that banks have effective governance structures, says this article in the Financial Times. Regulation that is forever…
How to bring about a "robust exit" for an insolvent bank
Regulators often need to act fast in order to preserve a bank's value, punish poor management and avoid GDP-sapping bailouts argues David Hayes.
Basel II 'could damage capital market liquidity'
The Securities Industry Association, which represents many of the world's largest securities firms, has written to the Basel committee warning that new rules "could have a detrimental impact on the liquidity of the capital markets", according to a report…
Major shake-up looming at Reserve Bank of Zimbabwe
The cash crisis in Zimbabwe is likely to result in a reshuffle in the next few weeks at the country's central bank, according to a report by the Zimbabwe Independent. It is understood the shake-up comes with the full blessing of President Robert Mugabe…
Jordan c b unveils banking supervision plans
The Central Bank of Jordan plans to develop its banking supervision measures to include an early warning system and early corrective procedures, according to the Jordan Times. The system is based on examining certain criteria such as capital adequacy,…
Federal Reserve on Basel Capital Accord
Agencies Announce Publication of Documents Related to Basel Accord Implementation, 4 August. Comments on the two documents will be accepted by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the…
WAMZ to set up banking supervisory agency
As part of the West African Monetary Zone's push towards a single currency, an external supervisory agency for banking supervision is to be set up, according to a report from Vanguard.
CBI governor emphasises independence of banks
The Central Bank of Iran (CBI) fully supports and respects the authority of banks to implement measures to better perform their functions, said CBI Governor Ebrahim Sheibani, reported by the Iran Daily. Sheibani was also reported to have said that the…
RBNZ focusing on banking supervision in NZ
Speaking in Wellington, Reserve Bank of New Zealand governor Dr Alan Bollard said "The Reserve Bank is keen to ensure that our regulatory system is invigorated and focused." In a press release Friday the RBNZ signalled its intention to put more effort…
Sri Lanka cb wants anti-money laundering law soon
The governor of Sri Lanka's central bank A.S. Jayawardena told a seminar Thursday that the country should implement anti-money laundering laws as soon as possible to prevent Sri Lanka from being blacklisted by the international community, the Daily News…
Sanusi - CBN's standpoint on anti-money laundering
In the speech 'Central Bank of Nigeria's standpoint of anti-money laundering compliance' Joseph Sanusi of the Central Bank of Nigeria said the CBN will continue to ensure compliance with the FATF guidelines, in addition to other domestic laws on money…
BSP given full authority to probe bank accounts
The Philippines newly revised Anti-Money Laundering Act returns the central bank's authority to inquire into any bank deposit. The Bangko Sentral ng Pilipinas lost this power a decade ago under the 1993 Central Bank Act.
Topping on Basel II : Implications for Hong Kong
In the speech 'Basel II : Implications for Hong Kong' Simon Topping of the Hong Kong Monetary Authority said Basel II is not some abstract regulatory compliance issue of no real value to the banking industry. On the contrary, it's based very much on…
EC capital requirements - Third consultation paper
Capital requirements for banks and investment firms third consultation paper and impact study results published, 1 July.
UK failing to track dirty money
A new report, commissioned from KPMG by the UK government, reveals problems "inherent in all aspects" of efforts to track money laundering in the UK.
Thailand's SET backs new derivatives exchange
Thailand's new derivatives market is expected to open next year with funding from the Stock Exchange of Thailand, notes the Bangkok Post. The new exchange will begin trade in futures contracts based on the stock index, interest and currency rates.
Argentine Lavagna takes over FSRU bank 'hospital'
Argentina's Financial System Restructuring Unit, known as the bank "hospital", will be controlled by Argentina's economy minister Roberto Lavagna, according to la nacion. The move will ensure that any future restructuring of the financial system will be…
''Economic ideas on Asia should be from Asians''
Hong Kong Securities and Futures Commission chairman Andrew Sheng told reporters that Asian economic ideas should ideally originate, be written and discussed by Asians rather than rely on Western economists, the buisness Times reported.
BoC wants reformed securities regulation
In a report published Wednesday the Bank of Canada called for reform of its securities regulator warning on the inefficiencies of a system broken up among about a dozen regional regulators.