Regulation
Czech central bank concerned over Esma's power
National supervisors should be responsible for their domestic institutions, says Czech National Bank
BoE's Posen continues crusade for SME credit
Posen laments decline of political interest in plans for credit easing for SMEs in the UK; reaffirms his drive to improve the provision of finance for smaller non-financial corporations
Governor of the Central Bank of the Philippines talks Basel III
Amando Tetangco explains how Basel III has a “perverse” impact on countries with strong fiscal discipline and why the Sifi designation is less important than rigorous regulation
Ireland overhauls market abuse oversight rules
Markets supervision directorate at the Central Bank of Ireland will now monitor and investigate market abuses instead of Irish Stock Exchange; ends arrangement in place since 2005
Switzerland investigates need for ‘more specific’ insider trading rules
Head of legal services at the Federal Confederation explains the investigations under way into the circumstances that ultimately caused Philipp Hildebrand to resign as governor of the Swiss National Bank
Russia gears up for central securities depository
Russian central securities depository (CSD) could be ready by the end of 2012, although there is more work to be done
EU freezes assets of Iranian central bank
EU follows US lead by announcing strict new sanctions on Iranian central bank; heart of action is to limit the country’s nuclear programme
Bundesbank’s Dombret calls for rigorous monitoring of Basel III implementation
Bundesbank executive board member Andreas Dombret says financial market's attempts to create global level playing field for regulation should face scrutiny
Ingves targets domestic Sifis with tougher capital rules
Basel Committee chairman Stefan Ingves says all institutions whose disorderly distress or failure could trigger a systemic crisis should be subject to additional capital requirements
Swedish authorities improve macroprudential policy co-operation
The Riksbank and Finansinspektionen form a new council for co-operation on macroprudential policy; group will not infringe on two authorities' independence in decision-making
Fed’s Tarullo identifies supervisory difficulties in applying Volcker rule
Federal Reserve board member Daniel Tarullo says regulators were finding it difficult to distinguish proprietary trading from market-making activities
Robert Pringle's Viewpoint: Policy-makers in thrall to group thinking
Philipp Hildebrand’s resignation has renewed fears about market practitioners working in central banks. But FOMC minutes from 2006 reveal a deeper problem – placing too much reliance on economists
Haldane calls for radical rethink of accounting rules
Bank of England financial stability executive director Andrew Haldane says departure form fair-value accounting principles necessary to prevent pro-cyclical behaviour of asset prices
Financial conditions ripe to relax renminbi rules, says HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says continued growth of Hong Kong's offshore renminbi market has paved the way for more relaxed regulatory requirements
Singapore launches new regulation for credit rating agencies
Monetary Authority of Singapore issues final regulation on credit rating agencies in Singapore; measures will require individual representatives of agencies to hold special licences
Sebi considers speed limit on high-frequency trading
The head of the Securities and Exchange Board of India calls for a speed limit for high-frequency trading to protect the interests of retail investors
Solvency II may face delay as European Parliament scrutinises ‘Omnibus’ directive
A further delay to a key vote in the European Parliament on the Omnibus II directive has increased concerns that Solvency II's implementation in 2014 could be delayed
RBI issues final guidelines on bank compensation
Reserve Bank of India releases final guidelines on compensation practices for private banks operating in India; measures will come into effect later this year
Basel 2.5: US ratings workaround too punitive, banks complain
Securitisations suffer in draft rules that avoid use of credit ratings - a Dodd-Frank Act requirement
Fed champions further action to revive housing market
Federal Reserve publishes review of policies to address impediments in US housing market in bid to revitalise economic recovery
Basel implementation monitoring strategy approved
Basel Committee governing body agrees plans to monitor member countries' efforts to implement new rules; also discusses liquidity coverage ratio
ECB paper identifies challenges to creating resolution regimes
European Central Bank study compares legal aspects of bank resolution regimes in the UK and Germany
Basel statement on risk transfer could halt legitimate trades, bankers warn
Basel Committee’s focus on cost of credit protection in attempt to stamp out capital arbitrage could also hurt sound trade trades, investment banks claim