Regulation
FSB issues guidelines for reform on interest rate benchmarks
Basel-based body calls for development of ‘nearly risk-free’ reference rates as alternative to scandal-hit benchmarks such as Libor
Bank rules would be stricter if UK left EU, says Bowles
European Parliament helped protect industry from tough trade finance capital requirements as well as blanket CVA charge, former MEP tells House of Lords inquiry
Former SEC chair urges US to accept use of NGAs for overseas swaps
Recent focus on US banks' use of non-guaranteed affiliates risks taking regulators down a slippery slope - issue could be tackled via disclosure instead, argues ex-SEC chair Harvey Pitt
BoE’s Cunliffe says leverage ratio is no mere ‘backstop'
Bank of England deputy governor says leverage and risk-weighted capital ratios serve different purposes; term ‘shadow banking’ casts a pall over productive aspects of non-bank financial services
MAS launches consultation on tightening up money laundering controls
Monetary Authority of Singapore releases consultation paper on amending the rules aimed at cracking down on money laundering and financing terrorism
Bulgaria turns to the ECB in wake of bank failures
Collapse of Corporate Commercial Bank revealed extent of supervisory shortcomings that IMF warned of 15 years ago; Bulgaria now wants to join ECB's Single Supervisory Mechanism
FSB seeks consultation on FX benchmark review
Group chaired by Guy Debelle of the Reserve Bank of Australia and Paul Fisher of the Bank of England will report back to November's G-20 summit in Brisbane
Bulgarian state to rescue majority of depositors at scandal-hit banking group
Central bank seeks law change as council claims banking supervision was only in the purview of one deputy governor; loan records apparently destroyed on purpose
Fischer keen to add financial stability to Fed mandate
Fed vice-chair Stanley Fischer praises progress with reforms in his first speech since becoming second in command; open to reforming the Financial Stability Oversight Council
Regulation may force some banks out of repos, says NY Fed's Davis
The New York Fed's head of financial market infrastructure, Jeanmarie Davis, says some banks will 'revisit their presence' in the repo business due to increased regulatory requirements
Central Bank of Ireland markets chief wants derivatives on TTIP agenda
The Central Bank of Ireland's markets director believes TTIP is the ideal forum to iron out differences over substituted compliance and establish agreement on monitoring and data collection systems
Cut in capital requirements opens door for new UK banks
Regulators say efforts to lower barriers of entry for small banks, including lower capital requirements and easier application process, is spurring competition
Volcker questions remain as metric reporting begins
US banks with more than $50bn in assets will be required to report trading metrics to regulators from July 1, but confusion remains around hedging and market-making exemptions
Basel committee revisits 2002 guidance on 'weak banks'
Update to BCBS guidelines is the first since long before the financial crisis; Ingves says ‘early identification and intervention by supervisors is critical'
Bank of England joins with UK Treasury in sweeping financial markets review
Markets review initiated by government, which includes the central bank and Financial Conduct Authority, will look at conduct and transparency in financial markets
Riksbank calls for separate LCR in local currency
Swedish central bank is wary of lenders' ‘extremely low' krona buffers; proposed change could be constrained by the size of Sweden's sovereign bond market, however
Caruana says ‘naïve' to be seduced by simple rules
Financial markets will continue to innovate to get around financial regulations - meaning regulators must also keep innovating, says BIS's Jaime Caruana
Greater competition leads to riskier banking, ECB working paper says
Paper finds more competition led banks to resort to more securitisation, greater risk and ultimately a higher probability of being bailed out
SSM results could come out early if severe weaknesses are found
Sabine Lautenschläger said today the results of the ECB's assessment of eurozone banks' health could be released early in the case of ‘severe weaknesses'
Rajan predicts ‘revolution’ in banking industry
The Indian banking sector is ‘on the cusp of revolutionary change’ as new developments and growing competition are breaking down the ‘grand bargains’ that once dictated its structure
EC tackling final questions on CCP resolution
The European Commission is drawing up proposals on the recovery and resolution of CCPs, but a number of tricky questions still have to be answered
No full disclosure on FX scandal in 2014, says FCA's Wheatley
Martin Wheatley, head of the UK's Financial Conduct Authority, says ongoing investigation unlikely to be concluded this year; laments prevailing culture of ‘ethical flexibility'
More bank capital means banks lend more, paper finds
More capital means more credit - but greater supervisory capital constraints mean bank credit grows more slowly than when banks are less constrained
Ingves says banking industry must acknowledge problem around risk weights
The variation in how banks set risk weights is a problem that some in the industry are ignoring, says Basel Committee chairman