Regulation
British regulator asks for 10% more funds
Financial Services Authority puts bulk of responsibility to pay up on the bigger banks
British PM heralds global bank levy
British prime minister Gordon Brown flags growing consensus among leaders on a global bank tax following Obama proposals
Community banks remain crucial for US economy
Chicago Federal Reserve summarises its conference on the impact of the financial crisis on community banks
Ex-Bank deputy wants shift in monetary policy remit
Former Bank of England deputy governor and Financial Services Authority chairman Howard Davies calls for central banks to broaden ambit of monetary policy; insists supervision best handled outside the central bank
BIS’s Caruana: central banks up to stability task
Bank for International Settlements’ Jaime Caruana says crisis highlighted the prominent role central banks should have in financial stability policy
Some microfinance rules to mirror banks’: Basel
Basel Committee on Banking Supervision says some of its original principals on effective banking supervision will broadly apply to microfinance with a little tweaking
UK FSA chief executive in quit surprise
Financial Services Authority’s Hector Sants surprises City with decision to depart in the summer after three years as chief executive
Barbados’ Worrell: supervisors of the region unite
Central Bank of Barbados’ governor urges Caribbean supervisors to ramp up cooperation
Ex-NY Fed chief opposes Volcker rule
Former New York Fed head Jerry Corrigan, now at Goldman Sachs, plays down impact of banks’ activities; warns against regulatory arbitrage
US can go it alone on reforms: Volcker
Former Fed chairman Paul Volcker says international consensus on reform not necessary
Iceland’s Gudmundsson: EU legislation guilty
Central Bank of Iceland’s Már Gudmundsson says the risks in cross-border banking were underestimated
Global rules for regulation or “catastrophe”: Trichet
ECB president Jean-Claude Trichet says international coordination is absolutely necessary in revamping regulation
Systemic risk more than size and default probability
Bank of Canada looks at measuring aggregate risk in the financial system
HKMA’s Chan: Asian Crisis lessons were forgotten
Hong Kong Monetary Authority’s Norman Chan on drawing lessons from financial crisis
ECB’s Bini Smaghi demands capital uptake
European Central Bank’s Lorenzo Bini Smaghi “insists” banks use profits to raise capital rather than wages; line echoes position of the Bank of England
FSA’s Turner wants new macroprudential body
The UK’s top regulator Adair Turner says a body other than the Bank of England is needed to implement macroprudential supervision
Obama’s proposals – the only game in town
President Obama’s radical proposals recognise that the financial lobby can no longer hold society to hostage. They should be welcomed as a result, Robert Pringle, the chairman of Central Banking Publications, writes.
Schapiro seeks tighter reins on hedge-funds
US Securities and Exchange Commission’s Mary Schapiro eyes more stringent controls for hedge funds and credit rating agencies
Obama's reforms find few friends
Markets and commentators reject the US president’s proposed reform of banks, which would see a ban imposed on proprietary trading
Transparency will reboot bond markets: González-Páramo
José Manuel González-Páramo, an ECB executive board member says openness is key to improving primary issuance
Mauritius’s Googoolye on macro supervision
Bank of Mauritius’s Yandraduth Googoolye says that the country’s revenue authority will share tax data with the central bank to aid policymaking
Bank’s Tucker on shadow banking
Paul Tucker, a deputy governor at the Bank of England, set out his thoughts on the regulatory agenda for financial markets that replicate the features of core commercial banks
Nigeria imposes limit on bank chiefs’ terms
Nigerian central bank says bank heads will have a maximum of ten years at the top, law to be backdated to 2000
ECB plans regulatory training for EU candidates
ECB says it will partner the European Commission and international organisations to strengthen supervision in countries seeking entry to the EU