Regulation
Quarles advocates end to ‘micromanagement’ of supervised banks
Fed’s vice-chair for supervision aims to preserve a secure financial system and foster efficiency
Mozambique central bank cracks down on AML breaches
A total of $2.6 million in fines is divided among 15 institutions found in breach of legislation; IMF says AML/CFT controls need to be more efficient
Malaysian central bank aims to boost use of Islamic insurance
Ibrahim tells takaful providers to leave their “comfort zone”
Basel Committee adds ‘amber zone’ in market risk revamp
“Amber zone” will protect near-miss desks, but regulators not convinced by complaints on non-modellable risk factors
Patel complains of ‘deep fissure’ in Indian regulation
RBI governor’s remarks seek to deflect criticism over recent Punjab National Bank scandal
ECB’s Nouy advocates global banking supervisory co-operation
The international nature of the financial system demands regulation across borders
European yield curve calculation regulations should change, ESRB says
Last liquid point, ultimate forward rate and convergence point should all change, report argues
UK banking sector faces higher costs after Brexit, report warns
Banks intend to minimise initial impact of Brexit in operations, but may be forced to move more personnel over time to maintain proximity to clients
Mersch criticises Commission over securitisation regulation
Some ‘STS’ provisions reduce transparency and increase complexity, ECB board member says
BCBS and Iosco publish draft securitisation criteria
Document focuses on “simple, transparent and comparable” asset-backed commercial paper securitisations
A regulatory storm hits China
Regulators are making a country-wide push to tighten supervision, in an attempt to pull the Chinese economy away from shadow banking and excessive credit growth
Securities regulation ‘does not need brand new framework’ – Esma head
Regulators must avoid inconsistency, Maijoor says
EU could go it alone on leverage ratio, says MEP
Swinburne says clearing should be shielded from ratio “if Basel does not deliver”
Visco wary of changing regulation on sovereign exposures
Italian governor acknowledges sovereign exposures are not risk-free, but questions logic to changing prudential rules
RBI plans to regulate nascent P2P market
Central bank proposes bringing peer-to-peer lending within its regulatory remit, fearing lack of oversight might lead the rapidly growing sector to develop “unhealthy practices”
National Bank of Romania flags ‘severe systemic risk’ posed by legislative framework
Central bank publishes first of two financial stability reports due this year, after change in policy; stresses concerns over range of legislative initiatives, including "debt discharge" law
World needs ‘less and better’ finance, Bundesbank board member says
Regulators must resist political pressure to water down implementation of reforms; Basel III must increase capital requirements for high-risk portfolios, Bundesbank executive board member says
Rohde laments Denmark’s lack of banking reform clout
National Bank of Denmark governor says Danish system of mortgage credit does not necessarily fit well with Basel framework, but the country has limited options to influence reform process
Romanian central banker warns of risk from ‘unwarranted’ loan law
Romania deputy governor warns of risks posed by legislative initiatives on debt settlements passed by the country’s parliament
Cyprus amends anti-money laundering regulation
Central Bank of Cyprus has amended its anti-money laundering directives, requiring banks to take extra measures to verify their customers’ identities; focus on accounts opened by third parties
PSR has taken ‘decisive action’ in its first year – managing director
Nixon marks PSR’s first birthday with speech in Copenhagen; regulator has helped in improving access and “levelling the playing field” for market participants
Investors to sue Portuguese central bank over asset writedown
A group of bondholders in a failed bank are bringing a lawsuit against the Portuguese central bank over its writedown of their holdings in a failed commercial bank
Basel Committee restricts bank options for internal modelling
Banks will no longer be able to use the internal ratings-based approach for certain portfolios, and will face restrictions in other areas, under proposed rules
BoE’s Breeden plots route to ‘third phase’ of global banking regulation
Regulators have moved from fragmentation to “balkanisation”, and now must work to establish full co-operation, executive director says