Regulation
MAS's Lim says integrated sovereign wealth funds beneficial for industry
Monetary Authority of Singapore deputy chairman Lim Hng Kiang says improved ties between sovereign wealth funds will improve best practice in the industry
Iceland’s Sighvatsson offers guidelines on how to apply new Supreme Court law
Central Bank of Iceland deputy governor Arnor Sighvatsson introduces guidelines to financial institutions on non-binding clauses linking loans to exchange rates
Microfinance not a silver bullet for Africa: Nigeria, Ghana governors
Nigerian governor Sanusi Lamido Sanusi and Ghanaian chief Kwesi Bekoe Amissah-Arthur say credit issuance is constrained by factors other than just access; requires deeper change
Protests at Icelandic central bank on car loan rules
Several hundred demonstrators congregate around central bank in peaceful protest against delinking of car loans from foreign currency exchange rates; rule change could see up to 10% of Icelanders hit with higher repayments
Netherlands’ Wellink survives resignation calls
Calls for Netherlands Bank governor to quit followed damning report into the central bank’s handling of failure of DSB
EXCLUSIVE: Nigeria to cut out universal banking
Nigerian governor Sanusi Lamido Sanusi says new guidelines similar to Volcker rule will prohibit lenders’ engagement in non-banking activities; takeover deals for bailed out banks near completion
EXCLUSIVE: Ghana’s Amissah-Arthur defends inflation targeting
Bank of Ghana governor Kwesi Bekoe Amissah-Arthur says framework is broader than its critics argue; points to problems in Ghanaian banking sector
Volcker unhappy with watered down rule: reports
Head of presidential economic advisory board Paul Volcker said to be dissatisfied with cap, rather than ban, on banks’ hedge fund investments; lawmakers forced to scrap $19 billion bank levy
Interview: Gill Marcus
The governor of the South African Reserve Bank tells CentralBanking.com why reforms can’t be rushed and discusses the role of central banks within society
EXCLUSIVE: Finger-pointing masks officials’ failures, says Sarb’s Marcus
South African Reserve Bank governor Gill Marcus says knee-jerk reforms ignore failure of policymakers to raise standards before crisis; sober, measured approach to reform only credible way forward
UK officials must consider cultural factors in regulatory overhaul
Navigating the transition to Britain’s new regulatory regime is fraught with cultural challenges, writes Michael Foot
CEPR: market liberalisation exacerbated credit crunch
Centre for Economic Policy Research study on financial crisis finds countries with deregulated markets were most negatively affected in credit markets
US lawmakers seal deal on reform bill
Members of the House of Representatives and Senate conclude the conference process; text includes part of the Volcker rule, surprise bank levy, and stronger-than-expected Fed audit clause
Old Lady: banks must reduce reliance on rating agencies
Bank of England calls for capital incentives for firms that rely less on external ratings; urges Basel Committee to go slow on introducing Basel III
Basel Committee: no decision yet to scrap Basel III liquidity rules
Regulators accept reform package will need to be reshaped but claim no decisions will be taken until July's committee meeting
Volcker rule faces dilution as lawmakers haggle: reports
Lawmakers in US Congress thought to be weakening Volcker rule, turning outright bans on prop trading and hedge fund investment into caps; legislation being pushed through to make 4 July deadline
FSA heads push back on regulator's abolition
Chairman and chief executive of the UK regulator say decision to break it up is ill-timed
Regulators hit back at IIF’s doom-laden predictions of Basel III impact
Regulators believe the IIF has over-estimated the effect of the planned Basel III reforms
Ireland unveils new supervisory code
Central Bank of Ireland report heralds move towards tougher approach; plans to create departments to implement more stringent regime
National Bank of Belgium - Financial Stability Review (2010)
National Bank of Belgium's financial stability review outlines shortcomings of government law passed on banking recovery measures
Basel Committee adjusts market risk framework
A formal 8% floor is set for correlation trading capital charge following analysis of QIS results