Regulation
Federal Reserve adopts Basel III for US banks
Fed Board unanimously votes to introduce new capital requirements as of January 1; Daniel Tarullo says additional measures will follow including proposals for a higher leverage ratio
Denmark's Rohde unconvinced of need for bank activity separation
Common rules on recovery and resolution, and higher capital requirements are what the European banking sector needs for greater stability, says National Bank of Denmark governor
Finland economist provides euro crisis ‘view from the north'
Banking union will be key to avoiding a repeat of the eurozone sovereign debt crisis, writes Bank of Finland economist; dealing with the ‘legacy' of weak balance sheets is a ‘key open issue'
Basel leverage ratio would double up collateralised OTC positions
Ratio could be a 'game-changer', dealers warn, as Basel Committee proposes counting received collateral as well as derivatives exposures
Weidmann says regulation must strengthen principle of individual responsibility
Bundesbank president says higher capital requirements will enable banks to shoulder greater losses by themselves; correct sequence of liability under common European resolution rules also needed
Basel Committee updates advice on anti-money laundering practices
Consultative document addresses ways for banks and supervisors to cut risk through diligent use of anti-money laundering efforts, including how to co-ordinate across borders
Fed proposals seek to shine light into money markets
Proposals for daily data reporting by a panel of 155 banks aim to improve the Federal Reserve's ability to supervise shadowy money markets
Basel Committee reveals leverage ratio formula
Proposals detail leverage ratio calculation framework and disclosure requirements that will enter force in 2015; committee keeps options open for a higher leverage ratio than originally planned
Switzerland passes Basel III implementation test
Assessment finds country ‘compliant’ overall with Basel III capital framework, although a number of regulations had to be tweaked to make the grade
ESM direct recapitalisation gets go-ahead
Eurogroup reaches agreement over main features of direct bank recapitalisation under the European Stability Mechanism, but commentators warn the deal could still falter; CRD IV also adopted
Reckless bankers should face jail, says UK parliamentary report
UK Parliamentary Commission on Banking Standards delivers raft of recommendations on how to cultivate better responsibility among bankers, banks and their regulators
Bank of Russia easing could 'jeopardise' inflation anchor
IMF releases Article IV consultation with Russia; encourages central bank to focus on inflation objectives and warns rate cuts would jeopardise ability to hit target range this year and next
Carney's Bank of England should seek closer ties with ECB, says MEP Bowles
Sharon Bowles will raise issue of European co-operation at her first meeting with Mark Carney - saying it is even more of a priority now Paul Tucker is leaving
Bowles: Give ECB its ‘smoke and mirrors'
ECB's chief inquisitor says central banks must retain 'a certain amount of mystery' to keep fiat monetary systems going; interaction between ECB's monetary and supervisory arms will be 'difficult'
Basel’s ‘99.9% standard’ for op risk is unreliable, says ORX chief
Giulio Mignola says Basel II's 'one-in-a-thousand-years' threshold for tail risk is fundamentally flawed
Fed's Plosser calls for a move to simple, but higher, capital requirements
Philadelphia Fed president says there is no better example of over-complex rule writing than risk-weighted capital calculations - and calls for a shift to simpler rules which are harder to evade
Basel securitisation reform creates 'perverse incentives’, says senior Japanese banker
Inconsistent rules are damaging financial intermediation, according to Takashi Oyama of Norinchukin Bank
FDIC clarifies approach to use of credit ratings
Article in latest edition of FDIC’s Supervisory Insights sets out expectations regarding credit risk due diligence, explaining what role credit ratings should play in making investment decisions
HKMA and RBA voice fears over Iosco benchmark proposals
Responses to Iosco's Principles for Financial Benchmarks reveal concerns that many markets will not be able to support transactions-based rates; RBA questions 'lexicographic hierarchy'
Euribor and Eonia submission panels to be split
European Banking Federation says banks will have to re-apply to be on each panel to ensure only those active in the markets participate; confirms banks may be forced to make submissions
RBI ‘reluctant’ to apply for Esma recognition under current rules
Indian reticence over Emir steps up pressure on EC equivalency regime
IMF researcher argues bank competition policy should take aim at TBTF
Developments in advanced economy bank sectors over the last 20 years mean competition policy should concentrate less on increasing competition and more on reducing too-big-to-fail
Draghi looks to FDIC model for European single resolution mechanism
ECB President tells City of London audience that completing banking union can sever the bank-sovereign link and provide markets with certainty
Japan delays cross-border rules amid US and European uncertainty
Equivalence and substituted compliance issues must be resolved quickly, or financial markets will be affected, says Kono at Japan FSA