Regulation
Look to markets for head supervisors: De Larosière
Jacques de Larosière says heads of new European Supervisory Authorities should think like market participants and have their respect
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
Banks fear soaring regulatory compliance costs: industry survey
Survey of financial firms shows three quarters of respondents expect costs of complying with Basel III, Dodd-Frank to exceed costs in past three years
Norges Bank sues Citi over subprime-related losses
Norges Bank alleges bank was deceitful over true nature of health; condemns Citi’s subprime mortgage, CDO practices
UK banking commission moots reforms
Commissioners stress they have an open mind as to which structure will best suit British banking industry
FSA’s Turner: regulator faces challenging transition period
Financial Services Authority chairman Adair Turner says restructuring of regulator will no doubt impact quality of operations
FSA worried over excessive EU rules while firm on proportionate solution for hedge fund pay
UK regulator worried heavy handed rules will drive hedge funds out of Europe, depriving supervisors of information on their European activities
MAS governor on regulatory reform
Monetary Authority of Singapore’s Heng Swee Keat notes need for better regulations, better appreciation of the macro-financial linkages, and firmer supervision
No easy alternatives to credit ratings
US regulators are right to look to curb their reliance on credit ratings. However, it will prove tricky to find viable alternatives
Norway’s Gulbrandsen: benefits of regulation outweigh costs
Norges Bank’s executive director of financial stability Kristin Gulbrandsen says tight regulation would have net social benefit
Wellink keen on expanding Basel III rules
Basel Committee chairman Nout Wellink says further improvements to new Basel rules will increase quality of capital base
Reform missed chance to fix mortgage markets: Volcker
Former Federal Reserve chairman Paul Volcker says US mortgage markets are dysfunctional due to reliance on government; renminbi appreciation in China’s own interest
BIS’s Caruana lauds Basel III
Bank for International Settlements general manager Jaime Caruana spells out importance of Basel III capital reforms
Prop trading restrictions already hurting liquidity, say investors
Restrictions on bank proprietary trading have caused liquidity to fall in both the cash and derivatives markets, forcing buy-side participants to adopt alternative investment strategies
Bank’s Bailey places public at heart of stability remit
Bank of England’s Andrew Bailey says public acceptance of stability goal necessary to stave off future crises
NBER: narrow funding banks will help regulate ABS market
National Bureau of Economic Research study proposes new narrow funding banks to help regulate asset-backed securities
EMEs deserve bigger role in reform debate: DIFC, CIC officials
Dubai International Financial Centre's Nasser Saidi and China Investment Corporation's Jin Liqun say emerging markets' prominence set to endure, mandating bigger voice in regulatory reform process
Subbarao tackles dilemmas in central banking
Reserve Bank of India governor opines on five challenges facing monetary authorities
HKMA warns on renminbi product risks
Hong Kong Monetary Authority executive director calls for caution in due diligence and supervisory assessment of renminbi products
Basel III: Banks fret about return on equity
Investors could shun bank equity if higher capital levels cause returns to slip
Central banks are preferred regulators: CentralBanking.com panel
Charles Goodhart, Sir John Gieve and Paul Mortimer-Lee say regulation is best housed within the central bank but warn challenges remain