Regulation
Systemic risk regulators should direct policy not just give warnings, says HSBC's Haswell
Past experience suggests the new financial stability bodies should direct regulatory policies, not just warn about instability
Philly Fed blames subprime crisis on bankruptcy reform
Philadelphia Federal Reserve study shows reform to homeowner bankruptcy rules caused default rates to rise during subprime mortgage crisis
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders
Senior US lawmakers flag room for manoeuvre on derivatives reform
Senate Banking Committee head Chris Dodd and derivatives overhaul author Blanche Lincoln say negotiation still possible on controversial derivatives package; clearinghouse clause looks set to stay
Nigeria under attack from government aide over reforms
Nigeria’s National Security adviser General Gusau says central bank's reforms are hampering country's recovery
A return to complexity: economic policy after the crisis
The crisis has challenged the fundamentals of the prevailing macroeconomic orthodoxy. Policymakers must recognise this and adopt new frameworks accordingly, Sir John Gieve argues
How China is empowering the boardroom
Sound corporate governance is essential if future financial crises are to be avoided. Liao Min and Rui Wang of the China Banking Regulatory Commission (CBRC) explain how the commission is developing guidelines to make this happen
The Volcker Rule: wrong answer or the right question?
The Volcker Rule recognises that the structure of the banking system needs to change. For that it should be supported, says Michael Taylor
Fed’s Hoenig approves Hutchison amendment
Kansas City Fed president Thomas Hoenig says the Hutchison amendment will strengthen the oversight of small banks
NBB’s Praet backs DG Competition for EU resolution authority
National Bank of Belgium’s Peter Praet says Directorate General for Competition could play credible role in resolving failed banks
Volcker dismisses prop trading criticism
Former Federal Reserve chairman Paul Volcker sweeps aside concerns that banks might not be able to differentiate between trading on their own books and on clients' behalf
Fed extends streak, keeping state bank oversight
US Senate amends Dodd bill, allowing Fed to keep supervision of state banks, vote hailed by Kansas Fed chief Thomas Hoenig
UK coalition gives Bank lead regulatory role
Conservative and Liberal Democrat parties agree to put Bank of England at the centre of financial regulation on Wednesday, stop short of abolishing FSA
Agency didn't follow its models on CDO ratings
A leading rating agency gave triple A ratings to CDO tranches when their own models implied downgrades
ECB’s Tumpel-Gugerell defends fair-value accounting
Gertrude Tumpel-Gugerell says fair-value accounting standards must be upheld despite amplifying crisis
Iceland's top regulator: evidence shows failed banks broke the law
Director-general of Iceland's financial regulator says evidence exists that some banks were involved in fraudulent activities including insider trading and propping up shares, ex-Kaupþing chief arrested on charges
European rating agency could break the hold of 'big three': Barnier
European commissioner Michel Barnier moots a continental ratings agency to introduce diversity, comments follow criticism of ratings agencies from European finance minister
Lower growth a price worth paying for strong banks: Wellink
Basel Committee chairman Nout Wellink says potential drop in growth not too high a price for more robust banking system; secretary-general Stefan Walter says regulatory requirements still too soft
Basel Committee’s Walter: Basel III on track
A package of reforms to the Basel II capital framework will be calibrated by year-end as planned, says secretary-general.
Justice department begins criminal investigation into Goldman fraud: reports
SEC refers Goldman Sachs fraud case to the to US Justice Department as criminal investigations begin
Capital ratio hikes 'not appropriate' for South Africa
South African Reserve Bank says lenders already hold more than necessary and further hikes will only hit profits; deputy governor Guma flags work on macroprudential framework