Regulation
Talk of banks 'capturing' Basle II wide of mark
LETTER - Letter published in the Financial Times, UK edition, 19 October, from Simon Wills, Director, wholesale and regulation team, British Bankers' Association, London.
Steps needed to curb money laundering in Kuwait
KUWAIT - Money laundering is illegal but some people manage to get away with it, yesterday disclosed Talal Al-Sayegh from the Central Bank of Kuwait during a lecture organised by the Institute of Banking Studies (IBS).
Appointees to Russian c bank's supervisory council
RUSSIA - Prime Minister Mikhail Kasyanov has signed a decree appointing members of the Central Bank's supervisory council, the National Banking Council, Itar-Tass quoted government press service head Alexei Gorshkov as saying Friday.
Iran and Bahrain central banks sign banking accord
IRAN - Governor of Central Bank of Iran (CBI) Mohsen Nourbakhsh and Bahraini Central Bank Governor Sheikh Ahmed Mohammed al-Khalifa on Saturday signed an agreement on banking cooperation.
Irish Yes vote clears obstacle to EU enlargement
IRELAND - Ireland yesterday ratified the Nice treaty at the second attempt, with an emphatic Yes vote that removes the biggest obstacle in the path to the enlargement of the European Union.
Management and Supervision, Cross-Border E Banking
RESEARCH - Basel Committee Publications No. 93, October 2002. The purpose of this paper prepared by the Electronic Banking Group (EBG) of the Basel Committee on Banking Supervision is to further the Committee's dialogue with the banking industry and…
Banks put themselves at risk in Basle
ARTICLE - The Basle committee on banking supervision is once again consulting banks over the impact of its draft new capital accord. Basle II will have an important bearing on bank lending within and between countries. Despite its good intentions, the…
Turkmenistan's head tightens currency regulation
TURKMENISTAN - At a recent meeting with the heads of law-enforcement bodies and military departments, Turkmen President Saparmyrat [Nyyazow] Turkmenbasy signed a resolution on priority measures to tighten currency regulation.
Polish gov't may seek halt to c bank independence
POLAND - The Sejm (lower house of parliament) public finances committee will resume legislative work on changes in the law on the Polish National Bank (NBP) after it has finished work on the 2003 budget, that is in the second half of November, committee…
Egypt, Russia sign banking cooperation agreement
EGYPT - The Central Bank of Egypt and the Central Bank of Russia today, 16 October, signed an agreement on promoting cooperation in banking domains between the two nations.
Ex-Fed chief steps into US audit watchdog row
US - Paul Volcker, the highly respected former chairman of the Federal Reserve, has stepped into the debate over the new US accountancy regulator, backing a candidate at the centre of a political storm endangering the career of Harvey Pitt, chairman of…
QIS 3 Frequently Asked Questions
REPORT - Supervisors and banks have raised the following issues since the distribution of the Basel Committee's Quantitative Impact Study 3 (QIS 3), 11 October.
Armenian MPs discuss amendment on money laundering
ARMENIA - The Armenian parliament has discussed in its first reading a package of draft laws on amendments to the current Armenian laws "On banks and banking activities", "On the Central Bank of Armenia" and "On credit activities" submitted by the…
Colombian president against c bank money issue
COLOMBIA - President Alvaro Uribe Velez told the country today that he does not agree with a new issue of money by the Bank of the Republic to finance Colombia's fiscal problem.
Speech by Susan Schmidt Bies of the Fed, 1 Oct
SPEECH - In the speech titled 'The Challenge for Corporate Governance Posed by Financial Innovation' Bies said unfolding concerns in recent months have thrust the quality of accounting, auditing, and disclosure practices of major U.S. companies into the…
Credit risk measurement and procyclicality
RESEARCH - BIS Working Paper by Philip Lowe, September 2002. This paper examines the two-way linkages between credit risk measurement and the macroeconomy. It first discusses the issue of whether credit risk is low or high in economic booms. It then…
Non-US banks may secure Sarbanes-Oxley concession
BELGIUM - Non-US banks may win a significant concession on tough new US legislation on corporate governance and accounting.
Banking regulator and c bank could merge-Venezuela
VENEZUELA - The administration of Venezuelan President Hugo Chavez might eliminate bank regulatory agency Sudeban and transfer its powers to the central bank, local daily El Nacional reported.
Brazil imposes stricter bank equity requirements
BRAZIL - Brazil's central bank has raised the equity requirement for banks holding US dollars, in a bid to halt the local currency's slide against the dollar, Brazilian central bank regulations director Sergio Darcy was quoted as saying by local press.
France faces formal Brussels rebuke
BELGIUM - France was yesterday left isolated and facing a European Union reprimand after blowing a hole in the credibility of the rules that underpin the euro.
Duisenberg urges reforms
EUROPE - Wim Duisenberg, head of the European Central Bank, on Tuesday said a lack of confidence in markets and uncertainty are the bigger problems for the European economy rather than the ECB's oft-criticized hold on interest rates.
Egypt's Mubarak in charge of central bank
EGYPT - Egyptian President Hosni Mubarak said Thursday that the central bank would come under his office's supervision, in a bid to deal with an estimated $2,6bn bad debt problem affecting local banks.
Speech by Shane Tregillis, MAS, 4 Sep
SPEECH - In the speech titled 'A Newfound Importance Of Non-Bank FIs in Asia' Tregillis said that to develop the regulation of capital markets in Singapore the first thing needed is to update the content of regulation so that it responds to changes in…
Speech by W. McDonough, New York Fed Bank, 29 Sep
SPEECH - In the speech titled 'Issues in Corporate Governance' McDonough used part of it to return to a topic he discussed recently, executive compensation. He said that in his view, public policy should aim to eliminate distorting incentives and to…