Regulation
HKMA and RBA voice fears over Iosco benchmark proposals
Responses to Iosco's Principles for Financial Benchmarks reveal concerns that many markets will not be able to support transactions-based rates; RBA questions 'lexicographic hierarchy'
Euribor and Eonia submission panels to be split
European Banking Federation says banks will have to re-apply to be on each panel to ensure only those active in the markets participate; confirms banks may be forced to make submissions
RBI ‘reluctant’ to apply for Esma recognition under current rules
Indian reticence over Emir steps up pressure on EC equivalency regime
IMF researcher argues bank competition policy should take aim at TBTF
Developments in advanced economy bank sectors over the last 20 years mean competition policy should concentrate less on increasing competition and more on reducing too-big-to-fail
Draghi looks to FDIC model for European single resolution mechanism
ECB President tells City of London audience that completing banking union can sever the bank-sovereign link and provide markets with certainty
Japan delays cross-border rules amid US and European uncertainty
Equivalence and substituted compliance issues must be resolved quickly, or financial markets will be affected, says Kono at Japan FSA
BoE's Tucker sets out priorities for orderly cross-border resolutions
Paul Tucker examines the many issues facing authorities seeking to wind down failed banks without taxpayer support, including cross-border co-operation and choice of single or multiple entry points
Wall Street hoping for Fed reprieve for derivatives desks
Investment banks fear they will be subject to section 716 of the Dodd-Frank Act unless Federal Reserve gives relief
European bank stress tests will wait for SSM asset quality review in 2014
European Banking Authority says next round of EU-wide stress testing will be postponed to allow asset quality assessments, which ECB says could kick off in the third quarter this year
Legal action against Bank of Spain already seeing results, claims lawyer
Lawyer representing shareholders in failed Spanish bank Bankia claims he has a 'very strong' case against the regulators, though the courts are expected to take a ‘cautious line'
BoE's Tucker weighs in on 'unco-ordinated' global regulation
Bank of England deputy governor says cross-border agreements can overcome national barriers to resolution
Europe's finance ministers inch closer to bail-in framework
Meeting of finance ministers, the ECB and the European Commission highlights differences between member states but strikes a hopeful note for agreement
IMF research warns Liikanen, Vickers and Volcker could cause instability
IMF economists including José Viñals call for global cost-benefit analysis to assess cross-border impact of national plans to restructure banks
Lack of co-ordination of bank resolution regimes behind subsidiarisation push
Asia still behind on global rules forcing subsidiarisation of foreign banks in the region
Germans clash over banking union treaty change
ECB board member opposes German finance minister's plan to introduce limited version of banking union to allow time for treaty change
Plosser warns US regulations could cause unnecessary bail-outs
Philadelphia Fed president says existing efforts to end too-big-to-fail may ‘come up short' and advocates a more rules-based approach; criticises Basel III risk weights
Banks push alternative to Basel Committee securitisation model
Basel proposals would kill European market, banks warn – and some regulators sympathise
European Parliament poised to approve next step in banking union
European political groupings have reached agreement on a text for the recovery and resolution piece of Europe's planned banking union
UK regulator right to retain flexibility to force changes on internal models
Head of the PRA plans to use early warning indicators in supervisory work, notwithstanding the risk of EU challenge
Dijsselbloem defends Eurogroup over Cyprus bail-in plan
Eurogroup president fields questions from European Parliament and defends the original Cyprus plan; refuses to name names over who proposed levy on smaller depositors
Fed’s Tarullo says wholesale funding is the most important gap in regulation
Fed governor warns regulation does not yet adequately address vulnerabilities in the financial system, citing wholesale funding and ending too-big-to-fail as particular problems
UK’s FCA faces serious challenges in meeting competition objective, survey warns
Industry survey highlights ‘scale of challenge’ for conduct regulator in promoting competition; says many measures taken so far may actually be anti-competitive
Bank of Japan raises ‘major concerns' over US foreign bank rules
Letter to Fed governor challenges proposed regulation of foreign banks on the basis of inconsistency with international standards and restrictive liquidity rules; Germans also weigh in