Regulation
MAS’s Menon dismisses Asian regulatory arbitrage opportunity
Monetary Authority of Singapore managing director Ravi Menon says suggestions that central banks in Asia and Singapore will implement less stringent over-the-counter derivatives rules are untrue
FSA asks UK government to be very clear in new legislation
Financial Services Authority warns government it risks creating “real confusion” over duties of new Financial Conduct Authority
Finland’s Liikanen discusses weaknesses in Europe
Erkki Liikanen wants progress in fiscal correction, bank capitalisation and economic governance; reminds Greece of its responsibility for itself
Carney to banks: stop blaming each other
Mark Carney, Bank of Canada governor tells banks to stop accusing others of bad behaviour; discusses Institute of International Finance's concerns about financial reform agenda
Fed's Tarullo calls for more research into systemic risk
Daniel Tarullo asks for more research into industrial organisation and systemic risk
SEC's Schapiro under fire in Madoff conflict case
SEC's former general counsel David Becker inherited $2 million account with Ponzi fraudster
Pressure on the IMF to make surveillance a priority
Representatives from several global constituents call on IMF to take a central role in surveillance of countries as international reforms take hold
Financial literacy key to stability: RBI’s Chakrabarty
Reserve Bank of India deputy governor KC Chakrabarty says improving financial literacy is necessary to minimise financial stability risks
De Nederlandsche Bank paper measures flow of trade-based money laundering
De Nederlandsche Bank study shows money laundering through licit exports and imports offers way around stricter anti-money laundering regulations in financial markets
Video: BBA gives first, exclusive views on the ICB report
In an exclusive interview, the BBA discusses whether the ICB should have looked more closely at other separation models for its final report on financial stability in the UK
Developing country representatives lament poor banking oversight
Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development says IMF surveillance of financial institutions is scuppered by weak implementation framework and practices
Video: BoJ’s Hiromi Yamaoka on the failure of global rulemakers to learn from Japan’s ‘lost decade’
Hiromi Yamaoka speaks about new recovery and resolution plans, the strength of the Japanese banking system and why he’s not worried about spiralling government debt
Liquidity provision focus for new international reform plan
New Centre for Economic Policy Research report puts forward reform plan; focuses on liquidity provision and calls for greater IMF powers
Malaysia’s Shamsiah on new era of anti-money laundering
Bank Negara Malaysia deputy governor Puan Nor Shamsiah Mohd Yunus discusses development of central bank’s anti-money laundering and combating financial terrorism regime
UK Lords debate Independent Commission on Banking plans
Lord Myners deeply critical of ICB's plans; complains chairman John Vickers failed to address important issues
UK prepares to do battle with ECB
British Treasury unhappy with European Central Bank's proposed clearing house location restriction; will take argument to court if necessary
UK ring fence poses legislative challenges
ICB stops short of asking for complete separation of retail arm from investment operations; how the government will legislate on the proposals is still unclear
Hong Kong regulator moves to authorise renminbi products under RQFII
Hong Kong regulatory platform ready to approve RQFII products; China’s central bank says priority to be given to Hong Kong-based subsidiaries of mainland banks and fund managers
Australian regulator moves to implement Basel III two years early
The Australian banking regulator proposes early implementation of Basel III capital and liquidity rules; draws immediate criticism from the Australian Bankers’ Association
RBNZ offers guidance on money laundering crack-down
Reserve Bank of New Zealand issues code of conduct for financial institutions as part of anti-money laundering legislation
FSB identifies areas for possible further shadow-banking regulation
Financial Stability Board highlights five areas needing more work to help gauge the case for further regulatory action concerning shadow banking
Getting ready for Vickers
Roger Alford an emeritus reader in economics at the London School of Economics takes issue with the core of the British banking system reform