Banking
Bank mulls widening collateral pool
Bank of England consults on taking “raw loans” at its discount window facility and calls for more transparency from counterparties, says the move will cement confidence in the financial system
US regulators issue liquidity guidelines
Federal Reserve and other regulators sign off framework for more stringent liquidity management
Washington makes play to name NY Fed chief
Senate banking committee’s reform bill calls for greater accountability in Liberty Street, pares Fed’s supervisory role to large banks alone
Buba’s Weber dismisses Volcker rule
Bundesbank president Axel Weber says Paul Volcker’s plan will have unanticipated effects and interfere with monetary policy transmission, says sticking with Basel II is best
US flip flops on cutting Fed’s oversight role
Senate committee is set to take all but the 23 biggest banks out of Fed’s regulatory ambit, diluted proposal will see Fed hang on to more of its responsibilities than reform bill initially said
Gudmundsson confident of Icesave deal despite country’s ‘no’ vote
Icelandic central bank governor Már Gudmundsson says a resolution will be reached with British and Dutch governments soon despite massive wave of public opposition to the plan
Longworth praises Canada’s astute liquidity management
Bank of Canada deputy governor David Longworth says central bank has been thoughtful and measured, assuring markets that support is available but ensuring that it is only used in dire circumstances
We won’t ban prop trading: British Lord
British business secretary Peter Mandelson says Volcker rule is “too difficult” even as Washington works to turn it into law
China moots legalising some private lenders
A director-general of the People’s Bank of China says the central bank is in favour of lifting rate caps and legalising some micro-lenders
Fed is investigating Goldman, hedge funds: Bernanke
Federal Reserve chairman Ben Bernanke says the central bank is looking into cross-currency swaps carried out by Goldman Sachs alleged to have helped Greece hide the extent of its debt
Europe works to cut banks’ reporting burden
The European Central Bank and Committee of European Banking Supervisors publish a system that will eliminate double reporting and improve quality of data
Libya opens doors to foreign banks
Libyan central bank welcomes overseas institutions interested in setting up a subsidiary, says ongoing reforms and strong economic performance offer great prospects for banks
British regulator asks for 10% more funds
Financial Services Authority puts bulk of responsibility to pay up on the bigger banks
Some microfinance rules to mirror banks’: Basel
Basel Committee on Banking Supervision says some of its original principals on effective banking supervision will broadly apply to microfinance with a little tweaking
US can go it alone on reforms: Volcker
Former Fed chairman Paul Volcker says international consensus on reform not necessary
Global rules for regulation or “catastrophe”: Trichet
ECB president Jean-Claude Trichet says international coordination is absolutely necessary in revamping regulation
FSA’s Turner wants new macroprudential body
The UK’s top regulator Adair Turner says a body other than the Bank of England is needed to implement macroprudential supervision
Obama's reforms find few friends
Markets and commentators reject the US president’s proposed reform of banks, which would see a ban imposed on proprietary trading
Nigeria imposes limit on bank chiefs’ terms
Nigerian central bank says bank heads will have a maximum of ten years at the top, law to be backdated to 2000
ECB plans regulatory training for EU candidates
ECB says it will partner the European Commission and international organisations to strengthen supervision in countries seeking entry to the EU
Bernanke appeals to keep Fed’s oversight powers
Federal Reserve chairman makes the case for the central bank to retain banking supervision in letter to lawmakers; Volcker supports systemic role
Israel’s Hizkiyahu on financial regulation architecture
Bank of Israel’s Rony Hizkiyahu says move from sectorial to functional regulation key
Reserve Bank of Australia Bulletin (December 2009)
The December installment of the RBA's monthly bulletin contains articles on regulation and domestic economic developments
FSB to probe banks’ progress on pay
Basel-based Financial Stability Board asks financial institutions to report on compensation standards