Regulation
US senators finally agree to reform debate
Having blocked discussions from Monday to Wednesday, Republican senators agree to let disputed regulatory reform bill be debated
Election uncertainty clouds future of FSA, Bank
Regulator could be swallowed by central bank if Conservatives win, but polls and analysts divided on most likely outcome
Fed advice cited in Senate vote against reform bill
Regulatory reform bill falls short of votes required for debate, Republican senator cites message from Fed staff criticising last-minute derivatives provisions
UK party leaders lock horns over breaking up banks
Liberal Democrat head supports Bank of England governor Mervyn King’s suggestion of splitting up banks by riskiness; disagreement on bank levies and regulator
ECB boosts transparency with new rules on ABS data
European Central Bank kick-starts work to implement enhanced data requirements for asset-backed securities, market participants overwhelmingly in favour of move
Abandon your ‘furious’ lobbying: Obama to banks
Obama warns banks’ lobbyists off descending on the Hill; laments Republican attacks
Swiss tighten liquidity rules for biggest banks
Swiss Financial Market Supervisory Authority and the Swiss National Bank clamp down on UBS and Credit Suisse through stricter liquidity regime
Fund calls for two taxes on banks
Leaked IMF interim report suggests a broad levy, and a profits and salaries tax as contingency against the risk of future government bailouts; rejects Tobin tax idea
France names top brass for new financial regulator
Deputy general secretaries for Autorité de Contrôle Prudentiel announced
The forces of darkness overwhelm bank reform
Banks’ lobbying and politicians’ arguments against the Dodd regulatory reform bill are lamentable, Robert Pringle writes
UK FSA to formally investigate Goldman Sachs
Financial Services Authority begins official probe into claims that the investment bank defrauded its clients following SEC lawsuit
Iceland's Guðmundsson laments lack of progress in regulation
Icelandic central bank governor says the promised regulatory overhaul has yet to transpire and institutions still do not have all necessary information to prevent a collapse
Six banks to vie for entry into Libya
Libyan central bank picks three Arab and three international banks to compete for two licences that will allow lenders to set up in the country according to state news agency
FSA names new consumer education chief
Supervisor picks pensions regulator head Tony Hobman to lead new consumer financial education body
EU finance chiefs to mull creditor haircuts
European finance ministers will discuss proposals to dock uninsured creditors and adopt instruments that convert debt to equity in distress at informal meeting on Saturday
Bank of Italy bans second credit-card issuer
Move seen by Italian media as indicative of politicisation of money laundering and usury laws
NY Fed’s Sack warns of excessive reforms
New York Fed’s Brian Sack discusses lessons from the crisis but cautions reforms may be superfluous
Basel principles don’t guarantee stability: IMF paper
Complying with the Basel principles on supervision does not enhance the soundness of banks, Fund economists find
Basel issues draft code on supervisory colleges
Principles seek to promote information exchange and incorporate latest regulatory trends
“Radical reforms” must be considered: UK lawmakers
Head of influential group of parliamentarians says British government wrong to rule out root-and-branch reform; favours contingent capital and subsidiaries to lessen risk of systemic collapse
Bank of Spain denies Spanish banks are delaying losses by acquiring NPAs
The Bank of Spain defends Spanish banks' hands-on risk management of non-performing assets related to the property sector
Fed: credit availability increases among consumers
Federal Reserve director discusses developments in credit scoring study with Congress
Central banks should oversee systemic risk
CentralBanking.com poll shows majority of respondents think central banks together with government bodies should be responsible for monitoring systemic risk
Greenspan slams systemic risk watchers
Former Fed chairman Alan Greenspan says systemic risk oversight bodies will not catch anything regulators have already missed, calls for contingent capital instead