Regulation
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
Ireland unveils fitness and probity regime
Central bank releases regulations and standards concerning appointment of staff in financial services industry
UK banking reforms argument rumbles on
Senior UK politicians get involved in debate ahead of final reform proposal report
EBA to publish governance and op risk guidelines in September and October
EBA op risk specialist Bernd Rummel says the new European body has a busy schedule of work to implement CRD IV
Market discipline averted subprime chaos: Central Bank of Brazil paper
Central Bank of Brazil says subprime mortgage crisis did not cause serious problems in Brazil due to good regulation and transparency
CFTC repository rule won't save regulators from data leak bills, say European supervisors
The CFTC's attempt to protect non-US regulators from an indemnity clause in the Dodd-Frank Act will fail, European regulators fear
Bank of Japan paper on success of Japan’s deregulation initiative
Bank of Japan study says deregulation in Japan has been broadly successful
Iran says US sanctions on central bank are ‘unfounded’
Central Bank of Iran governor Mahmoud Bahmani denies US will impose sanctions on central bank; says measures would be “unfair”
Banks blame complexity for slipping tri-party reform targets
Reforms to $1.59 trillion tri-party repo market are set to miss industry deadlines, and could now spill into 2012
Forbearance incentive is greater among Sifis: IMF paper
Fund study says regulators have strong incentive to forebear systemically important financial institutions
IMF paper outlines unintended consequences of Basel III and Solvency II
Fund study shows higher capital standards can have unintended consequences for cost of capital and funding patterns
Central Bank of Iran faces ‘crippling sanctions’ from US
US senators urge President Barack Obama to apply strict financial sanctions on Central Bank of Iran
Basel III charge could spur interest in CCDS
Development of CCDS could be pushed ahead by Basel III CVA charge, suggest market participants
CEPR paper finds increased investment in private firms
Centre for Economic Policy Research study says greater privatisation of firms and more independent regulators lead to greater investment
RBA places eight more people on financial sanctions list
Reserve Bank of Australia freezes assets of eight people associated with Syrian Al-Assad regime and one person linked to Qadhafi regime; 17 Zimbabweans taken off the financial sanctions list
IMF expresses ‘disappointment’ at Commission’s Basel III proposals
IMF says European Commission’s proposals to adopt Basel III are too soft and do not offer national authorities sufficient flexibility over macroprudential policy
Fed warns of Dodd-Frank clash with Basel III
Proposal to remove references to credit rating agencies conflicts with Basel III wording; Fed faces tough process to find alternative standards of creditworthiness