Banks
China cuts reserve ratio again
People’s Bank of China knocks 50bp off the reserve requirement for the country’s largest banks; policy to remain “prudent” says central bank
IMF paper investigates valuation impacts of geographic diversification
Paper finds shareholders are less able to monitor firm executives in diverse bank holding companies; allows corporate insiders to extract larger private benefits
Ukrainian central bank signs agreement with banking association
National Bank of Ukraine agrees to deeper co-operation with Independent Banking Association of Ukraine; two bodies sign memorandum of partnership and co-operation
China prepares for an ‘arduous’ year
Task of maintaining financial stability will be ‘arduous’ in 2012, says People’s Bank of China deputy governor; focus will be on risks from regional banks and non-banking institutions
UK banks miss 'Project Merlin' lending targets
Results of 'Project Merlin' show bank net lending fell in 2011; major banks missed targets for lending to smaller businesses
Central Bank of Ireland reveals enforcement priorities
Irish central bank tells financial service providers what it will focus on in terms of enforcement actions in 2011; warns reactive enforcement will also occur outside of set priorities
Shirakawa warns against renewed risk of spillover effects from Europe
Bank of Japan governor Masaaki Shirakawa says Asian banks should pay careful attention to deleveraging by European financial institutions; calls for further efforts to develop corporate bond markets in the region
EBA makes first assessment of banks’ capital plans
European Banking Authority receives recapitalisation plans from majority of banks highlighted in capital shortfall assessment; confirms no EU-wide stress test until 2013
Brazil deputy governor positive about economic future
Aldo Mendes says Brazil is prepared to face global economic deterioration; expects to see final growth figure of 3% for 2011 announced soon
Ukraine deputy governor resigns
National Bank of Ukraine quietly replaces Volodymyr Krotiuk as deputy governor; offers no explanation as director of financial department takes over the role
Netherlands Bank blasts EU financial transaction tax proposals
Netherlands Bank warns of large financial and economic costs associated with the adoption of a financial transaction tax in Europe; says hard evidence of stability benefits are 'lacking'
EBA rejects claims of problems with banks’ recapitalisation plans
European Banking Authority slams reports 'purporting to contain factual information'; says majority of banks’ plans appear to be in line with EBA recommendations
Italian banks may need state aid to hit 9% core capital, says Saccomanni
Bank of Italy director-general says country’s banks may require government assistance to meet stricter 9% core Tier I capital ratio; new deputy director Salvatore Rossi optimistic growth outlook
BoE's Posen continues crusade for SME credit
Posen laments decline of political interest in plans for credit easing for SMEs in the UK; reaffirms his drive to improve the provision of finance for smaller non-financial corporations
Germany highly exposed to US and European contagion effects, says Buba paper
Bundesbank study finds strong contagious effects from the US and Europe, but no effects from the Asia-Pacific region and emerging markets on the German financial system
Tajikistan announces enhanced payments systems
National Bank of Tajikistan launches national processing centre' striving to bring banking services up to date
Russia gears up for central securities depository
Russian central securities depository (CSD) could be ready by the end of 2012, although there is more work to be done
South African bank creates new role for ex-central banker
FirstRand bank appoints former SARB deputy registrar of the banks Yvette Singh as public regulatory affairs executive
Pakistan forges ahead with mobile banking promotion
State Bank of Pakistan signs agreement with national telecommunication authority to further the development of mobile banking in the country
FSB discusses plans for the year
Financial Stability Board covers 2012 work plan in latest meeting; considers extending Sifi framework to domestic banks and globally significant insurance companies
Lithuania overhauls banking supervision
New streamlined financial markets supervision body will save government $1.9 million a year; economist in charge of new Supervision Service
Banking structure reform gets go ahead from British government
UK government lays down plans to incorporate Independent Commission on Banking recommendations into law; process to begin next year
Bank of Finland paper investigates China’s evolving reserve requirements
Bank of Finland discussion paper charts the changing role of reserve requirements as a policy tool in Asia's biggest economy
Basel releases consultative document on capital disclosure
Proposal could see banks complying with new disclosure requirements from the date of publication of their first set of financial statements relating to a balance sheet date on or after January 1, 2013