Regulation
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
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