Resolution
US rules on foreign banks criticised by SRB’s König
Elke König, head of the eurozone's bank resolution authority, says US requirements for foreign banks to have a local holding company run counter to the single point-of-entry approach to resolution
FSB peer review: home-host divide still looming large
Despite progress on supervising systemically important banks, relationships between supervisors across borders are still lukewarm
Bank of Spain remodels in light of SSM
Executive commission approves a new structure for bank resolution and regulation, as well as changes to the central bank’s cash management functions
Stevens cautious on bail-in efficacy
Reserve Bank of Australia governor says bail-in is subject to a ‘host’ of complexities that could mean it goes less smoothly in practice than regulators would like to believe
Economists split on reality of cross-border co-operation
Panelists at an event in London see continued obstacles to countries working together effectively during a crisis, although regional co-operation could be a partial solution
Hellwig and Wolf question efficacy of financial reforms
Martin Hellwig and Martin Wolf discuss flaws in financial reforms aimed at breaking the sovereign-bank linkage in book on country and political risk
EBA offers advice on determining ‘critical functions’ in resolution
Technical advice seeks to clarify EU resolution directive in setting out exactly which parts of a bank are essential for financial stability; bank resolution plans found to be lacking in some areas
IMF: Pan-African banks pose oversight challenges
Report highlights need to reconcile regional and national interests in currency unions in the continent to ensure effective regulation and supervision
EBA chairman says supervisors should break up unresolvable banks
Supervisory entities ‘should have the guts’ to break up an unresolvable bank, European Banking Authority chairman Andrea Enria tells Davos audience
FSB says ‘substantial’ work needed on resolution regimes
Financial Stability Board monitoring exercise finds that only four jurisdictions have resolution regimes in line with its Key Attributes; India among those lagging behind on legislative amendments
Bank of England spells out resolution plans
Central bank details its approach to resolving a failed financial institution, including the use of bail-in, restructuring and international cooperation with other regulators
Fears surface over lack of trust among resolution authorities
Countries still do not trust one another enough to cooperate fully during the resolution of a globally systemic bank, participants at Chatham House event warn
Top UK and US officials join forces to enhance resolution
Officials including Mark Carney and Janet Yellen meet in Washington to improve transatlantic cooperation in the event of a global banking collapse
Carney hails ‘major achievement’ on resolution stays
Isda protocol signed by 18 major banks aims to solve cross-border legal issues, preventing a ‘cascade of termination events’ that could undermine an orderly resolution
EBA zeroes in on recovery and resolution trigger conditions
European Banking Authority publishes final guidelines on testing for bank failure and launches consultation on what conditions could trigger a resolution process
Bulgaria tells Brussels it can't guarantee failed bank deposits
Enforcing bank contributions to a deposit guarantee fund would destabilise the country's banking sector, Bulgarian governor and finance minister tell European Commission
Macro-prudential policies could ‘become part of the problem’, says BIS’ Borio
Weight of expectation on macro-prudential policies to address financial system stresses may be too great, says BIS economics head Claudio Borio; stress tests ‘woefully deficient’ in predicting crises
Fed blasts big banks over ‘unrealistic' living wills
Eleven firms, including Goldman Sachs and JP Morgan, must take ‘immediate action to improve their resolvability', US central bank says
Bank of Portugal splits failed bank BES in 'clean’ resolution
Portuguese central bank splits troubled lender Banco Espírito Santo into good and bad bank as part of a €4.9 billion rescue
BoE moves to prepare UK banks for EU recovery and resolution rules
UK central bank moves to implement EU Bank Recovery and Resolution Directive, a key piece of legislation to prevent taxpayer bailouts of banks
EC tackling final questions on CCP resolution
The European Commission is drawing up proposals on the recovery and resolution of CCPs, but a number of tricky questions still have to be answered
Constancio hails Banking Union's ‘remarkable sharing of sovereignty'
ECB vice-president Vitor Constancio says Banking Union with no common recapitalisation tool requires EU's biggest economies to surrender their advantage
ECB paper finds US resolution authority has not solved too-big-to-fail problem
Research uses creation of US Orderly Liquidation Authority as ‘quasi-natural experiment’, finding many banks are disciplined but the largest still do not believe the threat to be credible
Banks could be forced to leave UK if home regulators are found wanting
Draft rules published today by the UK banking supervisor put pressure on non-EEA countries to up supervision of banks that want to do business in London