Regulation
EBA zeroes in on recovery and resolution trigger conditions
European Banking Authority publishes final guidelines on testing for bank failure and launches consultation on what conditions could trigger a resolution process
Carney hints at coming shift in FSB focus
Mark Carney says Financial Stability Board will need to shift its focus towards ‘evolving’ threats such as shadow banking; ending too-big-to-fail high on the agenda for Brisbane G-20 summit
Bank rules and their impact on inequality
Banking regulation has a profound effect on levels of long-term financial inclusion around the world; US engaged in a failed ‘lottery ticket’ effort by the US to offer housing to the poor.
Zeti: Proportionate regulation necessary to ‘advance’ financial inclusion
Bank Negara Malaysia governor lays out plan to ‘advance financial inclusion to its next level’, saying global standard-setting bodies will play an ‘important role’
Israeli officials look to remove obstacles to securitisation
Joint team of financial regulators renew efforts to promote securitisation; former deputy governor Zvi Eckstein backs proposed legislative changes
Botswana's banking sector grew in 2013
Entry of two Indian banks took the number operating there to 13; greater use of technology plus more branches and ATMs improved access to finance
Germany finds Emir enforcement fix for OTC derivatives
Derivatives users in Germany face Emir compliance audit - but enforcement in other EU countries may be impossible, lawyers say
Widening fix window won't solve forex benchmark issues, industry tells FSB
Broad support for reforms proposed by Debelle- and Fisher-led working group, but industry also makes a variety of alternative proposals
Hungarian ruling party condemns ECB ‘pressure' on behalf of foreign banks
ECB concerned that new rules requiring banks to compensate Hungarian borrowers over foreign exchange loans could hit parent banks and threaten European financial stability
Choosing a suitable exchange rate suitable for price-takers
Flexible exchange rates can act as an asset price as well as a price for goods and services, so movements can distort the market for goods and services. Taxing capital inflows can address the matter
Financial inclusiveness and financial stability are key to success
Bangladesh has achieved growth in excess of 6% for the past decade, aided by its focus on financial inclusion. The next step is to modernise finance, writes Atiur Rahman
Time for clock synchronisation – regulators
Global regulators assess the need for a central reference clock to aid investigations into alleged abuse of financial markets
PRA highlights restrictions on group own funds
Implementation note says capital instruments issued by third-country undertakings must conform to Solvency II to qualify as loss absorbing
OCC 'disappointed' at lack of accounting convergence
With US and international loan-loss accounting rules set to diverge, bank regulators are preparing to level up the resulting capital differences
Some EU countries unable to punish Emir breaches
Firms in Poland and Ireland cannot be fined for reporting breaches, while Belgium, Portugal and Spain have only recently acquired the ability to impose sanctions
Central Bank of Turkey tells lenders to drop all euros from reserve holdings
Only dollars will be allowed as a substitute for liras in required reserves, central bank announces; lenders forced to sell €12.7 billion
Herding tendencies mean smaller banks won't solve moral hazard issue
Anticipation of bailouts encourages banks to invest alike, making bailouts more probable and crises more severe, Minneapolis Fed paper argues
BoE moves to prepare UK banks for EU recovery and resolution rules
UK central bank moves to implement EU Bank Recovery and Resolution Directive, a key piece of legislation to prevent taxpayer bailouts of banks
FSB issues guidelines for reform on interest rate benchmarks
Basel-based body calls for development of ‘nearly risk-free’ reference rates as alternative to scandal-hit benchmarks such as Libor
Bank rules would be stricter if UK left EU, says Bowles
European Parliament helped protect industry from tough trade finance capital requirements as well as blanket CVA charge, former MEP tells House of Lords inquiry
Former SEC chair urges US to accept use of NGAs for overseas swaps
Recent focus on US banks' use of non-guaranteed affiliates risks taking regulators down a slippery slope - issue could be tackled via disclosure instead, argues ex-SEC chair Harvey Pitt
BoE’s Cunliffe says leverage ratio is no mere ‘backstop'
Bank of England deputy governor says leverage and risk-weighted capital ratios serve different purposes; term ‘shadow banking’ casts a pall over productive aspects of non-bank financial services
MAS launches consultation on tightening up money laundering controls
Monetary Authority of Singapore releases consultation paper on amending the rules aimed at cracking down on money laundering and financing terrorism
Bulgaria turns to the ECB in wake of bank failures
Collapse of Corporate Commercial Bank revealed extent of supervisory shortcomings that IMF warned of 15 years ago; Bulgaria now wants to join ECB's Single Supervisory Mechanism