Banks
Britain unveils sweeping, cross-border bank levy
UK government publishes draft bank tax law which will affect domestic banks operating overseas and foreign bank operations in Britain; proposal highlights international disunity
Monetary policy cannot correct over-leveraging: Bank’s Miles
Higher interest rates will not prevent build-up of debt, which amplified effects of recent crisis, says Bank of England rate-setter David Miles
ECB sets stage to tackle ‘addicted banks’
European Central Bank publishes toughened rules that will allow it to limit individual banks’ access to short-term funds and exclude asset classes
BIS: interbank markets are hierarchical
Bank for International Settlements study finds evidence of tiered interbank market in Germany
Recovery has lost steam and risks remain high, IMF warns
IMF's latest financial stability report strikes a cautionary note about the stalled economic recovery
BoJ: low interest rates boost bank lending
Bank of Japan Economic and Financial Developments report says bank lending showing signs of improvement
Anglo bailout prompts Ireland downgrade
Fitch knocks Irish debt one notch; says higher bailout cost will impair fiscal consolidation plans
Australian banks demonstrate resilience says RBA
Reserve Bank of Australia Financial Stability Review shows improvement in banking sector as bank profitability returns to pre-crisis levels
Polish banking sector curbed growth in crisis
National Bank of Poland study shows banking sector played significant role in economic slowdown during financial crisis
Why Brazil’s economy survived shaky markets
Central Bank of Brazil Financial Stability Report says external shocks did not hamper economic recovery in Brazil owing to sound macro fundamentals
FDIC seeks to raise standards of securitised assets
Federal Deposit Insurance Corporation approves final rule requiring banks to hold 5% of securitised assets on their balance sheet
IMF makes FSAPs compulsory
Fund says 25 countries with systemically important financial sectors will be required to undergo check-ups every five years
Banks fear soaring regulatory compliance costs: industry survey
Survey of financial firms shows three quarters of respondents expect costs of complying with Basel III, Dodd-Frank to exceed costs in past three years
NBER: narrow funding banks will help regulate ABS market
National Bureau of Economic Research study proposes new narrow funding banks to help regulate asset-backed securities
Banks forgot their wider social duties: HSBC's Green
HSBC chairman and new UK trade minister Stephen Green says banks must reexamine their contract with shareholders and society; sustainability central part of shareholder value
RBI narrows rate corridor with repo, reverse repo hikes
Reserve Bank of India lifts repo and reverse repo rates in first-ever mid-period policy review; narrows rate corridor as flagged to cut market volatility
Banks need more time to reform pay standards: IIF
Institute of International Finance says lenders need more than year to bring pay standards in line with Financial Stability Board’s principles; regulators must speed up coordination efforts
Indonesia moots new rule to boost bank lending
Bank Indonesia to propose range of loan-to-deposit ratios to encourage lending; banks prefer to park deposits in money market due to perceived default risk
Banks’ role to be reduced in future financial system, IMF says
IMF position note says non-bank financial firms will see roles expand; IMF must refine its methods and broaden its view to keep up with changes
Basel Committee defends adjustments to Basel III as calibration decisions loom
Regulators describe difficulties ahead as they prepare for Basel III calibration and transition decisions in September
Central Bank of Luxembourg: banks pass stress tests
Central Bank of Luxembourg study shows local banks’ tier one capital buffers are sufficient to weather macroeconomic shocks
UK think tank forecasts 8% rates by 2012
Though now at record lows, Policy Exchange chief economist Andrew Lilico says interest rates in the United Kingdom may rise to 8% by 2012 to overcome double digit inflation
IMF: bond issuance creates more effective monetary policy channel
IMF study says government bond issuance can help mop up excess liquidity, making monetary policy more effective
Banks overestimate Basel III’s impact on growth: regulators
Basel body says hiking capital ratios by one percentage point will only cause 0.19% drop in potential GDP as lower rates will cushion the blow; industry bodies remain unconvinced