Regulation
Banking structure reform gets go ahead from British government
UK government lays down plans to incorporate Independent Commission on Banking recommendations into law; process to begin next year
Basel releases consultative document on capital disclosure
Proposal could see banks complying with new disclosure requirements from the date of publication of their first set of financial statements relating to a balance sheet date on or after January 1, 2013
Bini Smaghi shares thoughts on monetary system reform
Lorenzo Bini Smaghi talks about shortfalls of international policy co-ordination and looks at ways to improve it
IMF working paper on bank competition
Researchers look at effects of intermediation technology on banking competition and financial stability
Robert Pringle’s Viewpoint: What future for European banking?
Policymakers urgently need to form a clear, strategic position on the future of banking in Europe as well as a roadmap on how to get there. This may require the nationalisation of major European banks
RBI’s Subbarao urges reforms on regulating auditors
Reserve Bank of India governor Duvvuri Subbarao says ban on auditors selling consulting services could reestablish confidence in the industry
South Korea takes heed of US sanctions on Iran
US Senate passes bill containing strict new sanctions affecting Central Bank of Iran; South Korea government warns businesses of implications
IMF delivers gloomy Greece update
IMF releases Fifth Review Under the Stand-By Arrangement for Greece; offers a bleak picture of the country’s economy and future
BoE working paper investigates capital controls
Working paper from the Bank of England looks at ways of reforming the international monetary and financial system; suggests prudential capital controls may be needed
US sanctions on Iranian central bank inch closer
Senator Carl Levin reveals Senate’s 'strong' sanctions pass negotiating panel of House and Senate representatives 'virtually intact'; clears way for momentous Bill to pass
Sri Lanka eases rules on foreign investments
Central Bank of Sri Lanka changes regulations on foreign investments and domestic firms taking out foreign loans; aims to support expanding economic activities with additional financing
‘Ambitious’ strengthening of economic governance needed: Praet
ECB’s Peter Praet says resolving economic crisis will rely on strengthening economic governance; ECB will remain anchor for stability
UK’s FSA admits flaws in supervisory approach
New report into the failure of the Royal Bank of Scotland sees the Financial Services Authority accept a level of blame for the crisis at the bank
Spain’s Ordóñez discusses developments in preventing future crises
Governor of the Bank of Spain, Miguel Fernández Ordóñez discusses global and European reform initiatives and Spain’s efforts to implement them
Osborne to drive through BoE’s new supervisory powers
UK chancellor wants to drive through legislation granting the Bank of England statutory power for prudential supervision; ring-fencing left out of Financial Services Bill
US regulatory agencies issue new market risk capital rule proposals
US federal bank regulatory agencies remove references to rating agencies in new market risk capital rule proposal; change aids compliance with Dodd-Frank Act
Fiji governor calls for improvement in securities trading regulation
Barry Whiteside says international co-operation is needed to keep up with market developments in securities trading
IMF researchers label asset managers collateral ‘mines’
Paper highlights lack of attention paid to rise of asset managers as a major source of funding for banks through shadow banking system
Pakistan’s Anwar wants updated microfinance regulatory framework
State Bank of Pakistan governor Yaseen Anwar says considerable work is still needed to regulate microfinance institutions effectively
European Commission draws up new list of countries for Solvency II equivalence
Decision on Bermuda, Japan and Switzerland equivalence to be taken once Level 2 measures agreed
Change to Japan clearing mandate ends LCH-JSCC talks
A decision to limit the scope of Japan's clearing mandate has torpedoed months of partnership talks between LCH.Clearnet and the Japan Securities Clearing Corporation