Regulation
Kroszner suggests rules to avert another subprime
US financial regulators need to introduce a set of guidelines on loan modifications in the wake of the subprime crisis, according to Randall Kroszner, a governor at the Federal Reserve.
London office for US regulator?
Christopher Cox, the chairman of the Securities and Exchange Commission (SEC), the chief regulator in the US, said it would select either London or Brussels for its European office, part of its strategy of building a closer relationship with its foreign…
New Zealand adapts as regulatory role expands
The Reserve Bank of New Zealand said on Thursday that it would restructure its financial stability department in order to cope with the central bank's expanding role in maintaining the country's financial system.
Albania to get regulatory overhaul soon
The Bank of Albania will soon implement rules to lower the risk of financial instability, according to Ardian Fullani, the governor of the central bank.
UK regulator set to clamp down on hedge funds
The Financial Services Authority, the British financial regulator, said on Monday that it will formally assess hedge funds after an initial survey found market abuse prevention in some funds to be poor.
CBs must note credit crunch effect of Basel II
The procyclical effects of Basel II could increase the likelihood of credit crunches in downturns. Patricia Jackson, the head of the Prudential Advisory team at Ernst & Young and a former member of the Basel Committee, believes it is important for…
Dubai in regulatory pact with US
The Dubai Financial Services Authority (DFSA) has signed a memorandum of understanding with the United States banking supervisors. The Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the…
Old Lady could get more privacy under new rules
The Bank of England could soon be able to rescue troubled lenders in secret as a result of the recent Northern Rock crisis.
Liquidity risk is top issue: Luxembourg's Mersch
In the wake of the recent banking crisis, the most important regulatory issue is ensuring that the liquidity risk relating to complex structured products is adequately assessed, according to Yves Mersch, the governor of the Central Bank of Luxembourg.
Fed's regulatory response to subprime revealed
Better consumer information, rules to address unfair lending practices and a more coordinated enforcement of consumer-protection laws are needed to prevent another subprime crisis, according to the Federal Reserve.
Jamaica's Latibeaudiere calls for sole regulator
A single supervisory authority would be a more effective way of ensuring financial stability, Derek Latibeaudiere, the governor of the Bank of Jamaica, said.
Principles-based rules to stay, says UK regulator
Hector Sants, the chief executive of the Financial Services Authority (FSA), said that the regulator remained committed to its principles-based approach.
HK's Choi on Basel II's risk management challenges
Y.K. Choi, the deputy chief executive responsible for banking at the Hong Kong Monetary Authority, spelt out the risk management challenges facing the Asian finance industry in preparing for Basel II.
New executive director at the Netherlands Bank
Joanne Kellermann will join the governing board of the Netherlands Bank on 1 November.
UK regulators launch reform paper
Alistair Darling, the UK chancellor of the exchequer, announced on Thursday the publication of a banking reform discussion paper, written by the Treasury, the Financial Services Authority (FSA) and the Bank of England.
Private sector urges cooperation on rulemaking
The Institute of International Finance (IIF), a global association of finance institutions, called for central bankers and finance ministries to ensure that the regulatory response to the current crisis complements reforms pursued by the private sector.
UK financial sanctions: shift in responsibility
Responsibility for financial sanctions is being transferred from the Bank of England to the Treasury on 24 October.
Crisis shows why we need Basel II, says Committee
The recent banking crisis has underlined the importance of Basel II implementation, according to the Basel Committee on Banking Supervision.
FSA chief admits failings over Northern Rock
Hector Sants, the chief executive of the Financial Services Authority (FSA) said on Tuesday that it had failed to anticipate the impact of the credit crunch on Northern Rock, a UK mortgage lender.
EU discusses regulatory response to crisis
EU finance ministers met in Luxembourg on Tuesday to consider a regulatory response to the financial crisis.
UK bankers call for global review of credit crunch
The British Bankers' Association (BBA), the trade body for the finance industry in the UK, has said that a worldwide regulatory review would help markets weather the credit crunch.
Lessons for the UK - BBA
The British Bankers' Association (BBA) has suggested a review of the recently revised money market framework and the move towards principles-based regulation.
Hedge funds need transparency, not rules
US and EU regulators remain cool on calls for further regulation of the hedge fund sector.
Regulators to cooperate on rules to combat crisis
Financial regulators from the world's leading economies are set to draft recommendations to avert global instability in response to the recent market turmoil.