Regulation
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
Basel Committee proposes scrapping VAR
Review recommends switch to expected shortfall, postpones CVA charge overhaul, and retains split between banking and trading books
Kashya Hildebrand cleared over currency trading debacle
Auditors find no breach of regulations by former Swiss National Bank governor's wife; formal investigation launched after Philipp Hildebrand resigned
New York Fed researchers investigate shadow-banking regulation
Researchers find “uneven” progress towards stabilising shadow-banking system; gaps found between optimal and actual regulation of the sector
FSB reports ‘solid’ progress on financial regulatory reforms
FSB chairman Mark Carney gives update to G-20 finance ministers and central bank governors; new reports cover D-Sibs and the sensitivities of harnessing the power of shadow banking
Video: Bank of Mexico’s Duclaud says new rules will hit sterilisation costs
Javier Duclaud explains Mexico’s problems in 2008, why the country has increased reserves by $70 billion and how Dodd-Frank and Basel III are causing sterilisation problems for central banks
Iranian central bank escapes Swiss sanctions
Swiss authorities stop short of freezing assets of Central Bank of the Islamic Republic of Iran; note the institution's importance to the country's economy in reaching the decision
CPSS and Iosco set out central bank responsibilities for FMIs
CPSS and Iosco issue new standards for financial market infrastructures; include core responsibilities for central banks and other supervisory bodies
Basel Committee highlights resource challenges in stress testing
Basel Committee on Banking Supervision releases peer review of implementation of stress-testing principles; reveals resource concerns at both banks and supervisory level
Bank of Spain governor warns against complacency
Miguel Fernández Ordóñez outlines progress made in reforming Spanish banking sector; stresses there is more to be done, and that European interventions have merely bought time to push changes through
Countries named and shamed over Basel regulation delays
Basel Committee releases progress update on regulation implementation; highlights slow progress in some countries
Islamic Financial Services Board issues new guiding principles
New guidelines focus on liquidity risk management and stress testing for institutions offering Islamic financial services; new members added at latest meeting
Central Bank of Iceland conducts dawn raid on fishing company
Icelandic officials carry out searches of fishing company Samherji’s offices; company calls for explanation
New Zealand proposes partial earlier adoption of Basel III capital requirements
New Zealand regulators have opted to bring in the capital conservation and countercyclical buffers ahead of the Basel Committee schedule – but market participants are unsure if this is necessary
Lithuanian Supervision Service gets new powers
Board of Lithuanian central bank grants Supervision Service right to exercise powers to supervise non-banking financial institutions
Thai governor says Basel III guidelines imminent
Prasarn Trairatvorakul says first draft of the Basel III capital regulatory framework and liquidity risk management guidelines to be introduced 'later this month'
Cœuré gives ECB perspective on priorities for the reform of financial regulation
Newest member of the European Central Bank's executive board talks about the key issues financial regulatory reforms must address
Auditors find no breach of SNB regulations by governing board
Audit of own-account transactions by members of the enlarged governing board of the Swiss National Bank reveals no breach of the regulations in place during the time of investigation
RBA hands over responsibility for autonomous financial sanctions
Reserve Bank of Australia no longer has regulatory responsibility for autonomous financial sanctions; Department of Foreign Affairs and Trade now handles implementation and administration of law
Deputy governor renews Bank of Japan attack on Volcker rule
Kiyohiko Nishimura reiterates Bank of Japan’s concerns over unintended consequences of Volcker rule; says “prudent assessment” of potential impact of the rule on other countries is “crucial”
Canada cracks down on Syrian central bank
Canada imposes asset freeze on Central Bank of Syria; foreign affairs minister reiterates demand that president Assad step down
Swedish authorities lambast maximum harmonisation for Basel III
Swedish Finansinspektionen and the Riksbank hold first joint meeting on macroprudential policy matters; again take on EU proposals to fix capital adequacy requirements