Regulation
Legislative barriers and Northern Rock
Mervyn King’s assertion that he was “hemmed in” by legislation during the run on Northern Rock has some merits, argues Charles Proctor
Lessons of Northern Rock
British lawmakers are divided over how to fix a broken regulatory framework
BIS's Knight wants procyclicality issue addressed
A strengthening of the so-called "macroprudential approach" to financial regulation is needed to address problems of excessive procyclicality, said Malcolm Knight, the general manager of the Bank for International Settlements.
Iceland a step ahead on liquidity
Iceland's approach to liquidity management is much more developed than in other countries, said Ingimundur Fridriksson, a governor at the central bank.
EU should be "driving force" in SWF regulation
The EU should be at the forefront of the effort to supervise sovereign wealth fund investments, the European Commission has said.
A case for stronger regulation on liquidity
Securitisation's enhancement of and reliance on liquidity, as revealed by the recent bout of turmoil, indicates the need for new rules on liquidity, the Banque de France's latest stability review finds.
UK lawmaker laments lack of chief regulator
John McFall, chairman of the Treasury Select Committee which published its comprehensive report on the Northern Rock crisis at the end of February, reiterated his suggestion that the lack of a central figure in charge of Britain's tripartite regulatory…
Fed's Kroszner on risk and responsibility
America's banking industry and its regulators must together ensure that effective risk management practices are in place, said Randall Kroszner, a governor at the Federal Reserve.
EU to devise SWF code
The European Commission is to propose a voluntary code of conduct for sovereign wealth funds in a bid to ease fears that their investments could compromise national security interests.
FDIC's Bair calls for mortgage transparency
Sheila Bair, the chairman of the Federal Deposit Insurance Corporation, the body responsible for deposit insurance in the US, has called for a return to common sense and back-to-basics lending standards.
New role for SARB in monitoring capital flows
A further relaxation in South Africa's exchange controls, announced this week, will change the South African Reserve Bank's role in overseeing capital flows.
Assessing Australian asset-backed commercial paper
The reason for the superior performance of the Australian asset-backed commercial paper market compared with the United States lies in the specification of conduits, a Reserve Bank of Australia paper finds.
Philippines looks to end special vehicles
The central bank in the Philippines is seeking to draw a line under special purpose investment vehicles that are a legacy of the Asian financial crisis that erupted more than a decade ago.
EU rules may scupper Northern Rock plan
A European Commission official said that if the British government continues to provide support for Northern Rock beyond 17 March, which under the plans for the nationalisation of the bank announced this week seems inevitable, it will have to prove that…
Northern Rock to be nationalised
Alistair Darling, the British chancellor of the exchequer, has announced that Northern Rock will be put into public ownership - the first nationalisation of a sizeable British bank for 25 years.
Sri Lanka's Jayamaha calls for better governance
Now is the time to change Sri Lanka's approach to governance, risk management and compliance, said Ranee Jayamaha, a deputy governor at the Central Bank of Sri Lanka.
Bundesbank gets bigger supervisory role
The Bundesbank is poised to take broader responsibility for operational banking supervision in Germany after the central bank and BaFin, the country's financial regulator, agreed rules to clarify their supervisory roles.
UK regulator wants above-inflation budget increase
The Financial Services Authority (FSA), Britain's beleaguered regulator, has asked the government for an extra £21.3m ($41.8m) for the 2008/ 2009 financial year.
Compliance key for subprime solution
The Federal Reserve's planned rule to aid subprime homeowners must be effectively enforced if it is to be successful, said Randall Kroszner, the governor of the Federal Reserve responsible for supervision.
Old Lady could offer covert support under new rule
The British chancellor wants to introduce new rules allowing the Bank of England to give lender-of-last-resort support in secret.
Swedish hedge funds are transparent enough: Nyberg
New rules for Swedish hedge funds are unnecessary, said Lars Nyberg, a deputy governor at the central bank.
Glum findings in latest FSA report
Financial markets could be more vulnerable to external shocks in 2008, the latest risk outlook published by the Financial Services Authority (FSA), the British single regulator, finds.
The FSA Handbook: a Practical Guide and Update
With the focus of markets on the regulatory response to the current crisis, the launch of this tenth guide to the Financial Services Authority (FSA) handbook, to be held in London on 6 February, is expected to be a popular event.
UK regulator held responsible for bank run
The Financial Services Authority (FSA), the British regulator, failed in its duty to properly supervise Northern Rock, the beleaguered mortgage lender, an eagerly awaited report by lawmakers finds.