Securities
SNB’s Danthine on T2S participation
Swiss National Bank governing board member Jean-Pierre Danthine discusses central bank’s thinking on Target2-Securities project
Barnier draws UK lawmakers’ fire over new European supervisory structure
UK parliamentarians cross-examine European Commissioner for internal market regulation Michel Barnier on how much power new European supervisory authorities will have over national regulators
ECB points to securitisation, interest rate risk concerns
European Central Bank’s December Financial Stability Review stresses importance of more transparency in asset-backed securities market; highlights interest rate risk worries
CDSs did not hike eurozone states' funding costs: European Commission report
European Commission taskforce finds credit default swaps were not responsible for inflating eurozone members' funding costs, worsening crisis
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
SEC makes landmark fraud charge against US state
Securities and Exchange Commission makes its first-ever case against a state, on grounds of securities fraud; New Jersey alleged to have misled bond investors on pension contributions it was making
Washington begins writing out reliance on ratings agencies
Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and Office of Thrift Supervision begin search for new measure of creditworthiness
Dodd-Frank starts to bite as Obama signs bill into law
US President Barack Obama draws a line under year-long legislative process, hailing bill’s benefits to consumers; ratings agencies flustered by exposure to ‘expert liability’
France's Noyer says OTC markets need revamp
Banque de France governor Christian Noyer says new reforms on over-the-counter derivatives will make market more resilient
Europe raring to go on CDS rules, bank taxes
Brussels praises the political dynamic behind move for tightened financial regulation as French president Nicolas Sarkozy and German chancellor Angela Merkel call on Commission to speed up work
Venezuela to reopen bond markets
Central bank says tests of new centralised trading system nearly complete; follows closure to cut off parallel currency market
Iosco calls on regulators to share information
International securities body says members should cooperate outside an enforcement context to spot disturbing trends; report sets out principles of bilateral information-sharing deals
Riksbank's Persson: don't shoot CDS "messenger"
The Swedish central bank uses CDS spreads as an indicator of financial stability
Berlin hastily bans naked CDS, short-selling
Supervisor places temporary ban on naked credit default swaps, eurozone bond short sales, citing market volatility; analysts say uncoordinated move is further sign of fragmentation within eurozone
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders
Senior US lawmakers flag room for manoeuvre on derivatives reform
Senate Banking Committee head Chris Dodd and derivatives overhaul author Blanche Lincoln say negotiation still possible on controversial derivatives package; clearinghouse clause looks set to stay
Transparency will reboot bond markets: González-Páramo
José Manuel González-Páramo, an ECB executive board member says openness is key to improving primary issuance
HKMA presses on with Lehman Brothers cases
Hong Kong’s central bank refers some 334 cases to SEC for further investigation