Regulation
Protect consumers with new measures, says HKMA
The Hong Kong Monetary Authority (HKMA) has urged banks to adopt a raft of new guidelines aimed at protecting consumers. The measures follow almost 20,000 thousand complaints about the mis-selling of Lehman Brothers-related products.
Basel Committee to broaden implementation remit
The Basel Committee on Banking Supervision today announced that it is broadening the mandate of its Accord Implementation Group (AIG).
France's Noyer: sound risk management crucial
Financial regulation is not a substitute for financial institutions' sound and efficient management framework, said Christian Noyer, the governor of the Banque de France.
Vienna poised to take control of Bank Medici
The Austrian government is preparing to take control of Bank Medici, a Vienna-based private bank, which has revealed losses on funds that invested with Bernard Madoff, the disgraced financier.
Sri Lankan CB takes over private bank
The Central Bank of Sri Lanka has taken over Seylan Bank, the second largest commercial bank in the country.
Korean state-owned entities to the rescue
The Financial Services Commission (FSC) in Korea has unveiled a financial rescue plan for 2009 aimed at helping local banks improve their balance sheets and reduce their exposure to bad debt.
Albanian banks resilient - Fullani
The Albanian banking system has shown "admirable resilience" in the face of the global financial turmoil, said Ardian Fullani, the governor of the Bank of Albania.
We need greater global cooperation: Thai governor
Tarisa Watanagase, the governor of the Bank of Thailand, has warned that combating the credit crisis necessitates a greater degree of international cooperation.
Stress testing in central banks - a comparison
A new paper from the Bank of Italy reviews the quantitative methods used at selected central banks to stress testing credit risk.
ECB on originate and distribute
A new paper from the European Central Bank looks at the incentive structure of the originate and distribute model and suggest policies that could be used to mitigate conflicts of interest surrounding the model.
Obama picks SEC head and Fed governor
Barack Obama, the US president-elect, has named Mary Schapiro, the chief executive of the Financial Industry Regulatory Authority (FINRA), as the new head of the Securities and Exchange Commission (SEC). The president-elect also appointed Daniel Tarullo,…
IMF needs to step up surveillance: Italy's DG
The International Monetary Fund (IMF) should significantly step up international surveillance, said Fabrizio Saccomanni, the director general of the Bank of Italy.
Cameron talks tough on bankers
David Cameron, the leader of the opposition Conservative Party in Britain, has talked tough on going after "irresponsible" City bankers.
Hildebrand calls for restrictions on leverage
Philipp Hildebrand, the vice-chairman of the Swiss National Bank (SNB), said excess leverage was the main cause of financial fragility and the current global banking crisis, and called for restrictions on leverage ratios.
Coordinating prudential supervision
This IMF paper argues that Europe need closer coordination between its prudential supervision and financial safety nets.
Ireland announces €10bn bank bailout
The government of Ireland pledged up to €10bn for recapitalising ailing banks in a bid to encourage lending and limit the damage on the real economy.
Fingers pointed at SEC in Madoff affair
The Securities and Exchange Commission (SEC), a leading American regulator, is under fire for failing to spot alleged investment fraud by Bernard Madoff.
Supervisory colleges to take lead - ECB's Trichet
Colleges of supervisors should become the main supervisory interface for banking groups in Europe, said Jean-Claude Trichet, the president of the European Central Bank.
How to unblock the credit markets
Cutting interest rates is increasingly ineffective. Central banks need to create market-making windows, argues Ronald McKinnon
Three essential questions for reforming finance
Barack Obama should appoint a commission to investigate what went wrong and guard against quick fixes, says Eugene White
Shell shocked: American finance in crisis
A legislative overhaul is coming. Robert Litan says a renewed focus on market discipline and the consolidation of regulatory authority are the priorities
Spain's Ordoez hails early warners
Miguel Fernandez Ordoez, the governor of the Bank of Spain, paid tribute to the insights of two economists who warned against the dangers of excessive leverage and argued for counter cyclical capital rules.