Regulation

PBOC's Xiaochuan on anti-money laundering in China

In a speech on 'Anti-money laundering in China - the status quo and prospects' given on 27 August, Zhou Xiaochuan of the People's Bank of China said despite some achievements attained in China's anti-money laundering (AML) work, we are still facing very…

HKMA's Topping on challenges under Basel II

In a speech on 'The critical challenge facing banks and regulators under Basel II' given on 28 September, Simon Topping of the HKMA said the main objectives of Pillar 2 are to ensure banks have adequate capital to support all the material risks in their…

HKMA calls for safety deposit box inquiry

The Hong Kong Monetary Authority (HKMA) announced on Wednesday 6 October that it has required DBS Bank (Hong Kong) Ltd to carry out a thorough investigation into the recent destruction of rented safe deposit boxes at its Mei Foo branch.

Geithner on changes in the U.S. financial system

In a speech on 'Changes in the structure of the U.S. financial system and implications for systemic risk' given on 1 October, Timothy Geithner of the Federal Reserve Bank of New York said large US financial institutions pose a new set of risks to markets…

RBNZ's Bollard on supervising foreign-owned banks

In a speech on 'Being a responsible host: Supervising foreign-owned banks' given on 2 October, Alan Bollard of the RBNZ outlined the particular challenges increasingly facing countries with banking systems dominated by foreign banks. He also discussed…

BIS' s Knight on banking regulation, supervision

In a speech on 'Banking and insurance regulation and supervision: Greater convergence, common challenges' given on 23 September, Malcolm Knight of the BIS said the broadly-based process of convergence within the global financial system across markets,…

ECB's Trichet on European identity

In a speech 'European identity' given on 10 September Jean-Claude Trichet of the ECB said he appreciates Vincent Van Gogh enormously: his painting, his aspirations and his huge artistic talent. There is no better illustration of Europe's deep-rooted…

US to offer anti-money laundering training

The Association of Certified Anti-Money Laundering Specialists (ACAMS) will be the first US organisation to offer training and certification in the UAE to help Middle Eastern professionals develop their controls against money laundering and terrorist…

On the resolution of banking crises

This Bank of England Working Paper reviews the merits of the various techniques used by authorities when resolving individual or widespread bank failures in developed and emerging market economies. Open-ended central bank liquidity support seems to have…

Find your way around Basel II with FSI Connect

Banking supervisors around the world are gearing up to implement the new capital accord Basel II. FSI Connect, a web-based study and tutoring programme has been designed specifically for banking supervisors by experts at the BIS. Courses focus on risk…

Financial Stability Forum hold its twelfth meeting

The Financial Stability Forum (FSF), chaired by Roger Ferguson, Vice Chairman of the Federal Reserve, met on 8-9 September in Washington DC. Members discussed risks and vulnerabilities in the international financial system and offshore financial centres…

Fed's Olson: Protecting financial infrastructure

In testimony 'Protecting the financial infrastructure' given on 8 September Mark Olson of the Federal Reserve said that as a result of careful planning and considerable investment by both the private and public sectors, the financial sector is one of the…

Kyrgyzstan and Russia sign cooperation agreement

The National Bank of Kyrgyzstan and Central Banks of Russia have signed a cooperation agreement with the intention to establish dialogue on issues of banking regulation, and exchange information on the condition and development of the banking sector.

Brazil's Cavalheiro on regulation of capital

In a speech on 'Regulation of capital and financial stability' given on 12 July, Paulo Sergio Cavalheiro of the Central Bank of Brazil said the New Accord will be most likely implemented in Brazil in a gradual manner, the new rules co-existing for a…

Sweden's Nyberg on universal banking

In a speech on 'How do conflicts of interest in universal banking emerge and what are the arguments for a separation of commercial and investment banking?' given on 26 August, Lars Nyberg of the Sveriges Riksbank said he believed that the supervisory…

Regulatory agencies warn on internet 'phishing'

The Federal bank, thrift and credit union agencies on Wednesday 8 September announced the publication of a brochure with information to help consumers identify and combat a new type of Internet scam known as "phishing."

Malaysia's Zeti on Islamic banking & finance

In a speech on 'Current issues and developments in Islamic banking and finance' given on 25 August, Zeti Akhtar Aziz of the Central Bank of Malaysia said that to harness the full potential of the Islamic financial system, genuine endeavours to strengthen…

Brazil's Cavalheiro on regulation and Basel II

In a speech on 'Regulation of capital and financial stability' given on 12 July, Paulo Sergio Cavalheiro of the Central Bank of Brazil said supervisors still have a lot of work to be done in order to implement Basel II. The next steps include the…

RBNZ's Bollard on supervising overseas-owned banks

In a speech on 'Supervising overseas-owned banks: New Zealand's experience' given on 11 August, Alan Bollard of the Reserve Bank of New Zealand said the Reserve Bank is "seeking to reinvigorate the regulatory arrangements for New Zealand's banking system…

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