Regulation
Dombret proposes alternative to ECB-led supervision of banks
Deutsche Bundesbank’s Andreas Dombret discusses an EU-wide supervisory structure for banks; suggests it does not necessarily need to be headed by the ECB
Central Bank of Ireland warns over unlicensed banks
Concerns raised abroad lead Irish central bank to caution consumers against dealing with two illegal firms; both ‘banks’ have offered banking services without having the necessary licence
FMI resolution report published for consultation
CPSS and Iosco seek comments on new standards for recovery and resolution of financial market infrastructures; discuss how FSB’s work on resolution regimes will be taken into account
Kosovan central bank launches sting operation on unlicensed financial institutions
Two locations investigated for conducting unlicensed financial activity; materials and equipment seized after fast-moving process
ECB lambasts Hungarian financial transaction tax
European Central Bank accuses government of hindering National Bank of Hungary's independence by imposing transaction tax; also blasts failure to properly consult on the plans
Dubai authorities warn of scam using UAE central bank’s name
Fraudsters using official headed paper to send letters asking for money; correspondence claims to represent the Central Bank of the United Arab Emirates
Geithner emails to King bring BBA into focus over Libor
Communications between the then president of the NY Fed and the governor of the BoE show 2008 concerns over Libor system; British Bankers' Association was asked to look at recommendations for change
Agius confirms BoE governor’s intervention in Barclays
Chairman of Barclays recounts meeting with Mervyn King during which he was told Bob Diamond had lost the confidence of the regulator; following day the bank’s chief tendered his resignation
US authorities explain living will review process
Largest banking groups must hand in resolution plans by July 2; preliminary reviews will be completed within 60 days say FDIC and Fed
King calls for overhaul of UK banking system
Governor of the Bank of England says cultures of investment and retail banking operations do not mix; calls on government to legislate on all of Independent Commission on Banking’s recommendations
Libor manipulation lawsuits could cost banks ‘tens of billions’
Barclays' $450m settlement gives lawyers smoking gun evidence of attempts to tamper with benchmark rates
Hungary proposes amendments to troublesome central bank law
Hungarian government puts forward amendments to widely criticised central bank law; discussions with concerned international bodies including the ECB and IMF are 'ongoing'
Sri Lankan central bank blasts rating agency assessment
Central bank expresses 'grave concern' over statement from Standard & Poor's regarding state of banking sector in the country; rating agency noted 'very high risk' in institutional framework
Central Bank of Kuwait revamps bank governance rules
New rules make improvements to regulations in light of global financial crisis and recent issuances from Basel Committee and Financial Stability Board; effective date set for next year
FSA’s Sants airs fears of overburdened BoE governor
Hector Sants says operational tasks handed to Bank of England governor under recent reforms could be “too great”; slams government and BoE for not listening to advice concerning Northern Rock collapse
Basel III may kill trade finance in Asia, says StanChart banker
Asian banks providing trade finance services will struggle to meet Basel III rules on leverage ratios, senior Standard Chartered banker tells Asean Risk 2012 conference
Malaysia releases Basel III proposals
Bank Negara Malaysia issues concept paper setting out plans to strengthen capital adequacy standards for banking institutions; requests feedback on requirements, which follow Basel III recommendations
NY Fed's Dudley fears CCP capital 'cliff effect'
Supervisors should ensure the capital regime for cleared trades avoids a sudden leap in risk weights, says New York Fed president
Ukraine releases banking group identification regulation
New regulation brings Ukraine further into line with EU and Basel Committee principles; describes how banking groups come to be classified as such in the country
Bangladesh bank governor discusses macro-prudential reforms
Atiur Rahman gives overview of progress in Bangladesh and says reforms are progressing well in South Asian Association for Regional Cooperation region
US authorities finalise stress-testing guidance
Three federal banking agencies publish final guidance for large banks and stress community banks are not covered by the same requirements
JP Morgan loss flags shortcomings of Volcker rule
Questions raised after chief executive claims new regulation would not have prevented the risky trades that caused JP Morgan to lose $2 billion; first version of regulation may have, says Caprio
HM The Queen confirms banking ring fence plan
UK set to see controversial ring fence between retail and investment banking operations introduced after Queen includes the plan in her annual speech before the government