Regulation
BoE's Large on financial stability
In a speech on 'Financial Stability: Maintaining Confidence in a Complex World' given on 17 November, Andrew Large of the Bank of England said he echoed the views expressed recently by Callum McCarthy, in his speech to the European Policy Forum. The FSAP…
IAIS launch improved website
The International Association of Insurance Supervisors (IAIS) has launched its new improved website at www.iaisweb.org. The website includes an extensively improved navigation and information layout, an elegant new design, information on forthcoming…
US bank regulators assess impact of Basel accord
Speaking on Thursday 13 November, Fed Vice Chairman Roger Ferguson said U.S. regulators are gathering data on whether the complex new Basel II rules will disadvantage institutions that lend to small businesses, home buyers or consumers according to a…
Concern over financial watchdog reform in Hungary
The National Bank of Hungary has issued a statement, reports Kossuth Radio, stressing that there is no need to reorganise the State Supervision of Financial Institutions and saying that the regulator is carrying out its duties appropriately.
A vision of stability within the Basel accord
In this article, first published by the Financial Times, Bank of Spain governor Jaime Caruana says the new Basel accord offers us the chance significantly to improve financial stability. In a few years' time, the benefits of Basel II will have become so…
RBNZ can veto bosses in biggest ever bank merger
The RBNZ cleared New Zealand's biggest ever commercial deal, the takeover of the National Bank by ANZ, but added the condition that it could veto senior appointments of directors or senior management. It is the first time new prudential banking…
Thai c bank says local banks ready for Basel II
Bank of Thailand Governor Pridiyathorn Devakula said on Monday 27 October, according to Dow Jones, that Thai commercial banks will be ready to adopt the new Basel II regulations on capital adequacy when they come into force end-2006.
Basel committee vows to respect timetable
At its weekend meeting in Madrid, the Basel Committee moved forward with a proposal for how banks would treat what is known as expected credit losses, adopting the stance of the US banks. The committee pledged to stand by its timetable for implementing…
Supervisory body to boost BI's accountability
Indonesia's Minister of Finance, Boediono, has repeated the importance of establishing a supervisory board for Bank Indonesia's board of governors, a report in the Jakarta Post said. The idea has been opposed by Bank Indonesia but is meant to strengthen…
Caruana asks What next for Basel?
In a speech on the subject of 'What next for Basel?' given on 9 October Jaime Caruana of the Bank of Spain said while many challenges lie ahead for the New Basel Accord, even more lie behind us that we have already overcome. Perhaps it's helpful to…
Office of CBRC set to open in Shanghai
The China Banking Regulatory Commission will open a Shanghai Bureau this week, says the China Daily.. The CBRC's Shanghai bureau will take over the supervision of the city's banking industry from the local branch of the People's Bank of China, the…
ECB to provide assistance to Russian central bank
The ECB is to help train staff from the central bank of Russia, according to a report by AFX. The training will be provided by officials from nine eurozone national central banks and the non-central bank supervisory authorities of the UK, Sweden and…
Central bankers debate Basel II delay in Madrid
The central bankers and bank supervisors charged with creating a new regime for bank capital were due to meet in Madrid on Friday 10 October to decide whether to postpone the implementation of the rules, according to the Financial Times. The issue was to…
ECB shake-up in response to staff discontent
The European Central Bank is to reshuffle its management in response to claims that the eurozone central bank is becoming too bureaucratic, the Financial Times reports. Feelings inside the bank's Eurotower headquarters in Frankfurt have been running high…
Crunch meeting for Caruana - Special Feature
CentralBanknet's Monday special feature focuses on the Basel Committee's current crunch meeting in Madrid and the key issues for Jamie Caruana's chairmanship.
Swiss National Bank calls for deregulated economy
In his debut speech, reported by the Financial Times, the Swiss National Bank's board member for financial markets, Philipp Hildebrand, called for broad deregulation of the domestic economy to tackle unemployment and protect the country's long-term…
Syria issues money laundering law
The Syrian President has issued a decree providing the legal framework to combat money laundering in the country, according to a report by AME Info. The law improves the legal framework of the banking system and creates a new authority affiliated to the…
FATF to review Philippines' anti-money laundering
A team from the Financial Action Task Force (FATF) will arrive in the Philippines later this month to review the implementation of anti-money laundering laws, Agence Presse reports. The review is part of the process of removing the country from the FATF…
IAIS expands core principles for insurance
The International Association of Insurance Supervisors (IAIS) has revised and expanded its Insurance Core Principles and Methodology, offering new guidance for the effective operation of supervisory systems around the world. The 28 principles cover all…
Qatar to enact anti-money laundering rules soon
The deputy governor of the central bank of Qatar has said that anti-money laundering laws will be issued in the near future, according to Mena FN. The Law aims to establish a legislative framework for the policies and regulations to be adopted for…
Li Ruogu: Financial Supervision and central banks
In a speech on 'The Role of the Central Bank in Financial Supervision' given on 26 August, Li Ruogu of the People's Bank of China said that China established the China Banking Regulatory Commission (CBRC) in April this year as a special watchdog for the…
Warning issued over UK money laundering directive
The Association of Chartered Certified Accountants warned the UK Treasury on Monday 29 September, according to the Financial Times, that the new money laundering directive, due to come into force in January, may swamp the National Criminal Intelligence…
Poole on Self-Regulation in Pension Systems
In a speech on 'The Role of Self-Regulation and Voluntary Compliance Incentives in the Design of Pension Systems' William Poole of the Federal Reserve Bank of St. Louis said the United States does not have a perfect pension system. Indeed, the system…
SARB appoints Kruger as registrar of banks
Errol Kruger will replace Christo Wiese as registrar of banks in South Africa from 1 October, Dow Jones reports. As registrar, Kruger will be responsible for ensuring the soundness of banks and banking groups registered in South Africa.