Regulation
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.
Kuwait c bank 'panel' to monitor money-laundering
The Central Bank of Kuwait (CBK) is to establish a unit to monitor money-laundering operations, the Arab Times reports. The unit will be headed by the governor of the CBK Sheikh Salem Al-Sabah and will work in unison with the office of the Public…
Russian c bank to amend bank offshore capital law
Russian banks may be given a year to lower the share of their equity capital in offshore companies to 10% under new amendments to the law on banks and banking activities, according to Kommersant. If the amendments are passed, banks will be obliged to…
Ukraine central bank to fine banks for laundering
A resolution which came into force on 21 June allows the National Bank of Ukraine to fine banks 0.01 per cent for every violation of banking legislation on money laundering, according to a report by the Interfax-Ukraine news agency. The government hopes…
FATF tightens laundering rules - Monday Special
The Financial Action Task Force (FATF) on money laundering on Friday 20 June released a radically-overhauled set of rules for preventing money laundering internationally. CentralBankNet's Monday special feature comes from the sidelines of the meeting in…
HKMA warns of suspicious bank web site
The Hong Kong Monetary Authority (HKMA) alerted members of the public in Hong Kong on Thursday to a suspected internet fraud involving "Banquedenationale Bank".
Ferguson testimony on Basel II and H.R. 2043
In testimony on 'Basel II and H.R. 2043' Roger Ferguson of the Federal Reserve said plans for U.S. negotiators to meet with their international counterparts in November may not leave enough time for U.S. agencies to consider feedback from domestic banks…
Arab central bank council discusses Basel II rules
The Council of the Arab Central Banks met in Bahrain on Wednesday 18 June to discuss the Basel II convention and how it would affect the supervisory role of monitoring the banking industr, according to a report by the Khaleej Times..
Ferguson on some issues for Basel II
In a speech on 'Basel II: Some Issues for Implementation' Roger Ferguson of the Federal Reserve said that Basel I must be replaced, particularly in a world whose financial markets are so interrelated that substantial difficulties at any one of the…
PBOC unveils new currency policy committee
The People's Bank of China has unveiled its new currency policy committee, the Xinhua news agency reports. The committee will be chaired by Zhou Xiaochuan, governor of the Bank, with 12 other high-ranking economic and financial officials making up the…
Afghanistan urges Pakistan to help stop fake notes
The governor of Afghanistan's central bank has called on Pakistan's authorities to halt the production of counterfeit Afghan banknotes being printed in the frontier areas of that country, according to a report from the Voice of the Islamic Republic of…
CBK board given power to implement laws
The recently implemented Islamic Banks Law will give power to the central bank of Kuwait's Board of Directors to implement necessary laws and regulations with the aim of providing an atmosphere of healthy competition in the field of Islamic banking, the…
Bankers say Lebanon not ready for Basel II
Delegates from Lebanese and Arab banks speaking at a bank conference said on Tuesday 10 June that financial institutions in the region need to invest more to comply with the rules of the Basel II agreement, according to the Daily Star.
China's banking credit system takes shape
The People's Bank of China said on Monday 9 June that the country has made important advances in establishing the banking credit registration and consulting system, according to the People's Daily.
South African 'super regulator' idea rejected
A proposal from South Africa's finance minister to establish a 'super regulator' that would take away responsibility for banking supervision from the central bank has been rejected by bank CEOs in a recent survey, according to Business Day.
Anti-money laundering FATF urge Indonesia to act
The Financial Action Task Force on Money Laundering could impose high-risk premiums on all financial transactions by Indonesian financial institutions if the government fails to amend the current anti-money laundering law by September, Dow Jones reports,
Brazil's Financial Resilience
A new working paper from Ilan Goldfajn, Katherine Hennings and Helio Mori of the Brazilian Central Bank asks how Brazil has escaped more or less unscathed in recent financial crises. Few state banks and many foreign ones may be a factor they argue.
Scrutinising central bank efficiency
The Swedish Central Bank has just hosted a conference on the subject of "central bank efficiency". The workshop was organized by Marten Blix Anders Vredin, and Sonja Daltung, all of the Riksbank.
Kohler on Public-Private Partnership
Speech by Horst Kohler, Managing Director, International Monetary FundAt the Spring Membership Meeting of the Institute of International FinanceBerlin, June 4, 2003