Systemic importance
HSBC chair expresses concern over new rules on global Sifis
HSBC chair Douglas Flint says additional loss absorbency for global systematically important financial institutions should apply to greater number of firms
BIS economists identify indicators of systemic risk
Bank for International Settlements research points to size as most reliable indicator of systemic importance, ahead of interbank lending and borrowing
Italy’s Draghi on new Sifi guidelines
Bank of Italy governor Mario Draghi says prudential guidelines for systemically important financial institutions set to be complete in mid-2011
FSB outlines progress on national resolution regimes
Financial Stability Board says work on building framework for national resolution regimes well under way; loss absorbency measures for global sifis on schedule
No more bailouts under Dodd-Frank: FDIC’s Bair
Federal Deposit Insurance Corporation chair Sheila Bair says Dodd-Frank Act ensures taxpayer will no longer bear cost of bank failures
IIF’s Oudéa calls for G-20 taskforce for cross-border resolution
Institute for International Finance’s Frédéric Oudéa says G-20 taskforce will stir up political will for agreement on cross-border resolution
Basel III will cause ‘financial Darwinism’: BaFin’s Sanio
Top German regulator Jochen Sanio says Basel III will squeeze weaker banks, spur formation of large banking groups that will pose more systemic risk
Large pension funds a threat to financial stability – European Commission
European Commission says pension funds should also be classed as “too big to fail”
Politics won't get in the way of Sifi plans: FSB's Draghi
Financial Stability Board chairman Mario Draghi says resolution regimes for systemically important banks operating across borders need not be bogged down in political tensions
FSB plans on Sifis win G20 approval
G20 leaders welcome reform packages to date, including fresh FSB proposal to tackle moral hazard posed by systemically important banks
FSB sets out markers for intense, effective supervision of Sifis
FSB issues recommendations to shape top notch oversight of systemically important financial institutions; calls for expansions, clarifications to core Basel principles
IMF makes FSAPs compulsory
Fund says 25 countries with systemically important financial sectors will be required to undergo check-ups every five years
Richmond Fed – Annual Report 2009
Richmond Federal Reserve study on systemic risk finds that policy interventions may harm market incentives if implemented during a crisis
Weber calls for broader scope to Basel III
Bundesbank President Axel Weber says new Basel rules should incorporate a macroprudential element to overcome systemic risks
Central banks should oversee systemic risk
CentralBanking.com poll shows majority of respondents think central banks together with government bodies should be responsible for monitoring systemic risk
Global rules for regulation or “catastrophe”: Trichet
ECB president Jean-Claude Trichet says international coordination is absolutely necessary in revamping regulation