News/Regulation
Bank of England joins with UK Treasury in sweeping financial markets review
Markets review initiated by government, which includes the central bank and Financial Conduct Authority, will look at conduct and transparency in financial markets
Riksbank calls for separate LCR in local currency
Swedish central bank is wary of lenders' ‘extremely low' krona buffers; proposed change could be constrained by the size of Sweden's sovereign bond market, however
Rajan predicts ‘revolution’ in banking industry
The Indian banking sector is ‘on the cusp of revolutionary change’ as new developments and growing competition are breaking down the ‘grand bargains’ that once dictated its structure
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
No full disclosure on FX scandal in 2014, says FCA's Wheatley
Martin Wheatley, head of the UK's Financial Conduct Authority, says ongoing investigation unlikely to be concluded this year; laments prevailing culture of ‘ethical flexibility'
Debelle and Fisher to head up FSB FX benchmarks review
RBA deputy governor and Bank of England head of markets will lead a review at the FSB, and present findings to G-20 Brisbane conference in November
US Congress committee highlights Volcker rule anomalies
Fed's Tarullo among regulators grilled by US Congress over apparently arbitrary exemptions to the Volcker rule
ECB releases AQR framework
Danièle Nouy and Vítor Constâncio outline the ‘building blocks’ of the asset quality review; say recruitment for the SSM is progressing ‘at full steam’
Ingves calls for consistency in risk weights for credible capital ratios
BCBS chair says underlying differences in risk drive lion's share of risk-weight variations, but some arise from supervisory and practice-based idiosyncrasies
EBA announces key ratios for European bank stress tests
European Banking Authority wants to see CET1 ratios of 8%, with 5.5% the threshold for an ‘adverse scenario'; stress tests to begin in the spring with results due out in October
Research shows CEE firms bribe bankers to get credit
Paper finds correlation between the prevalence of bribery in an economy and firms' bank debt ratios - suggesting firms bribe bank officials in order to secure loans
BoE prudential regulator wrestles with early warning indicators calibration
Calibration for general insurers and with-profits funds frustrates regulator's progress
Nepal central bank cautious on Basel III counter-cyclical buffer
Central bank to study need for counter-cyclical buffer in a developing economy
Basel Committee publishes leverage ratio definition
Basel Committee agrees common definition for simple bank leverage ratio; discussions set to continue over the appropriate required level
ECB appoints four SSM department heads
New directors general include a former secretary-general of the BCBS and hires from the central banks of Spain and Finland; ECB endorses Sabine Lautenschläger for its executive board
UK banks win tax exemption for client clearing
UK tax authorities exclude client collateral received as a result of clearing activities from bank levy, after complaints it would act as a disincentive to clearing
Frontloading fears remain despite Esma guidance
Uncertainty has been narrowed by Esma Q&A, but dealers say they will still face pricing headaches
Basel Committee says world's biggest banks can't report risk adequately
Globally systemic banks have provided the Basel Committee on Banking Supervision with an update on their progress towards risk reporting goals - revealing deficiencies in data aggregation
Danièle Nouy confirmed as chair of SSM supervisory board
Top French supervisor formally appointed after ECB nomination and European Parliament approval; first job will be to agree on her deputy, to be chosen from ECB executive board
EU bail-in to start two years early after Parliament and Council reach agreement
Bail-in rules, expected only from January 2018, will now enter force in January 2016; public bail-outs remain on the table as a last resort
India's counter-cyclical buffer proposals a 'tax on banks'
Government-linked think-tank claims India's counter-cyclical buffer focuses too narrowly on banks, and fails to address real issues in the country's finance system
Federal agencies finalise Volcker rule exceptions
The Federal Reserve, FDIC and other agencies agree on a final version of the Volcker rule to ban proprietary trading and investment fund activities, but with a series of exemptions
Basel Committee gives Brazilian capital standards the nod in new report
Standards are deemed overall compliant with Basel III, report published today concludes; Central Bank of Brazil's approach to market risk considered ‘more prudent' than the Basel standardised version
RBI consults on treatment of domestic systemically important banks
Reserve Bank of India releases proposals for identifying domestic systemically important banks and increasing their capital requirements; state-owned banks may need capital injections