Banking
Basel Committee sketches regulatory action plan
Basel Committee on Banking Supervision identifies eight issues it is working on as Basel III reform package heads into political sphere
Basel Committee outlines principles for good supervisory colleges
Basel Committee on Banking Supervision publishes its eight principles to guide the construction and running of supervisory colleges
IIF defends doom-and-gloom Basel III forecasts
Institute for International Finance backs up its predictions of Basel III output loss, which are deeper than regulators’
IMF/ World Bank meetings: lack of resolution regimes a key concern
Cross-border resolution regime deemed crucial by officials and bankers, but many sceptical progress can be made
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
Ireland’s Elderfield rules out senior debt haircuts
Holders of senior debt must not be forced to shoulder losses, but issuing banks could negotiate with them, says Central Bank of Ireland’s Matthew Elderfield
Basel liquidity rules hit fresh objections
A reworking of part of the liquidity coverage ratio is rejected by the Basel Committee
Basel II grievances stir transatlantic tensions on new accord
BNP Paribas chairman Michel Pébereau slams United States’ failure to implement Basel II across the board; says Basel III will unfairly impair Europe
Weber, Blankfein praise Basel III leverage cap
Bundesbank president Axel Weber and Goldman Sachs chairman Lloyd Blankfein laud Basel III’s inclusion of leverage ratio, as opposition mounts
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
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
Norges Bank sues Citi over subprime-related losses
Norges Bank alleges bank was deceitful over true nature of health; condemns Citi’s subprime mortgage, CDO practices
UK banking commission moots reforms
Commissioners stress they have an open mind as to which structure will best suit British banking industry
No easy alternatives to credit ratings
US regulators are right to look to curb their reliance on credit ratings. However, it will prove tricky to find viable alternatives
Bank’s Bailey places public at heart of stability remit
Bank of England’s Andrew Bailey says public acceptance of stability goal necessary to stave off future crises
EMEs deserve bigger role in reform debate: DIFC, CIC officials
Dubai International Financial Centre's Nasser Saidi and China Investment Corporation's Jin Liqun say emerging markets' prominence set to endure, mandating bigger voice in regulatory reform process
Subbarao tackles dilemmas in central banking
Reserve Bank of India governor opines on five challenges facing monetary authorities
Basel III: Banks fret about return on equity
Investors could shun bank equity if higher capital levels cause returns to slip
Impact of Basel III core capital standards remains unclear, analysts say
As governors back higher capital standards, ex-Bank of England special adviser argues economic impact remains difficult to pin down; commentators say reforms do not address risk attitudes
Subbarao concerned over Basel III countercyclical measures
Reserve Bank of India governor Duvvuri Subbarao cites concern over variable likely to be used to calibrate countercyclical buffers
Basel Committee has agreed on capital ratio: Buba’s Zeitler
Senior officials set to meet on Sunday to discuss the proposal
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
Islamic banks affected differently by crunch: IMF
IMF research finds Islamic banks outperformed conventional rivals in 2008, but trend was reversed following year
NY Fed: capital structure best left to the market
New York Fed research supports view that some degree of leverage may ensure appropriate bank behaviour