Regulation
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
Former Bank staff sceptical on FSA split
Ex-Bank of England officials view cultural factors as barrier to success of UK government's plan to return prudential regulation to Bank
Financial Services Authority - Annual Report (2009/10)
UK Financial Services Authority's annual report discusses the regulator's transformation since the financial crisis
Bernanke supports greater macroprudential focus in regulation
Federal Reserve chairman Ben Bernanke says reform must focus on macroprudential financial regulation in line with Squam Lake report
FSA’s Sants calls on regulators to judge banks' culture
UK Financial Services Authority chief Hector Sants says supervisors can no longer back away from judging whether culture in banks complies with accepted standards
Corporates should be forced onto central counterparties – BIS
Central counterparties are wrongly perceived as being more expensive than OTC transactions, says a leading economist
FSA split as Britain switches to twin-peaks approach
Hector Sants to become deputy governor and chief executive of new prudential regulator, which moves to the Bank of England
UK Banking Commission proposes adoption of Volcker Rule
Report on banking reform proposes that modified version of Volcker rule be adopted