Regulation
Renminbi liberalisation, price stability priorities: PBoC
People’s Bank of China says currency internationalisation, price stability top priorities for 2011, following annual meeting
Icelandic central bank, regulator ink deal to collaborate
Central Bank of Iceland and Financial Supervisory Authority sign landmark agreement to work together on oversight in areas including systemic risk
Brussels sets the stage for senior debt haircuts
Internal markets directorate publishes consultation paper calling for senior bondholder haircuts in resolution regimes; analysts worry move could further disrupt funding for troubled banks
Haircut fears push up bank CDS prices
Spreads on the credit index for senior European financials widen as EU releases burden-sharing consultation paper
Israel’s Fischer on the meaning of macroprudential policy
Bank of Israel governor Stanley Fischer stresses importance of interconnections in interpreting the macroprudential mandate
Forecasting ability fails to justify rating agencies’ power grab
Rating agencies forecasts “not particularly outstanding” during decades following the Great Depression, Bank for International Settlements paper finds
Philippines’ central bank takes ownership of golf course: reports
Central Bank of the Philippines takes over local golf club resort following default on loan by failed lender, local media say
CentralBanking.com’s top ten stories of 2010
Regulatory change features heavily
Spain’s Aríztegui on savings banks mergers
Bank of Spain deputy governor Javier Aríztegui discusses institutional protection schemes
Accountability and risk management key to banking: Albania’s Fullani
Bank of Albania governor Ardian Fullani tells bankers how central bank is raising the standards against which they are judged
Ireland lifts lid on tough new enforcement approach
Central Bank of Ireland publishes first-ever enforcement strategy, detailing tough line on sanctions; publication accompanies penalties on Allied Irish Banks, NCB Stockbrokers
SNB’s Danthine on T2S participation
Swiss National Bank governing board member Jean-Pierre Danthine discusses central bank’s thinking on Target2-Securities project
RBNZ Bulletin – December 2010
Reserve Bank of New Zealand bulletin features articles on regulating non-bank financial firms
Basel Committee publishes final Basel III rules
The Basel Committee has finalised its Basel III package - but work in certain areas will continue into 2011
Macroprudential policy – a literature review
Research reviews latest developments, poses future questions
Sants: Publication of RBS report hinges on permission from bank
Head of UK regulator "extremely sympathetic" to calls for release of report
Denmark’s Bernstein cites fiscal, Basel III worries
National Bank of Denmark governor Nils Bernstein says Copenhagen must keep tight rein on debt; banks must resolve adjustable rate loan refinancing issues
Fed writes rule to expand consumer protection
Federal Reserve proposes two rules to improve consumer protection, based on financial regulatory reform law; move part of broader rulemaking process that will turn to bank capital, leverage laws
Barnier draws UK lawmakers’ fire over new European supervisory structure
UK parliamentarians cross-examine European Commissioner for internal market regulation Michel Barnier on how much power new European supervisory authorities will have over national regulators