Regulation
King calls for overhaul of UK banking system
Governor of the Bank of England says cultures of investment and retail banking operations do not mix; calls on government to legislate on all of Independent Commission on Banking’s recommendations
Libor manipulation lawsuits could cost banks ‘tens of billions’
Barclays' $450m settlement gives lawyers smoking gun evidence of attempts to tamper with benchmark rates
Hungary proposes amendments to troublesome central bank law
Hungarian government puts forward amendments to widely criticised central bank law; discussions with concerned international bodies including the ECB and IMF are 'ongoing'
Sri Lankan central bank blasts rating agency assessment
Central bank expresses 'grave concern' over statement from Standard & Poor's regarding state of banking sector in the country; rating agency noted 'very high risk' in institutional framework
Central Bank of Kuwait revamps bank governance rules
New rules make improvements to regulations in light of global financial crisis and recent issuances from Basel Committee and Financial Stability Board; effective date set for next year
FSA’s Sants airs fears of overburdened BoE governor
Hector Sants says operational tasks handed to Bank of England governor under recent reforms could be “too great”; slams government and BoE for not listening to advice concerning Northern Rock collapse
Basel III may kill trade finance in Asia, says StanChart banker
Asian banks providing trade finance services will struggle to meet Basel III rules on leverage ratios, senior Standard Chartered banker tells Asean Risk 2012 conference
Malaysia releases Basel III proposals
Bank Negara Malaysia issues concept paper setting out plans to strengthen capital adequacy standards for banking institutions; requests feedback on requirements, which follow Basel III recommendations
NY Fed's Dudley fears CCP capital 'cliff effect'
Supervisors should ensure the capital regime for cleared trades avoids a sudden leap in risk weights, says New York Fed president
Ukraine releases banking group identification regulation
New regulation brings Ukraine further into line with EU and Basel Committee principles; describes how banking groups come to be classified as such in the country
Bangladesh bank governor discusses macro-prudential reforms
Atiur Rahman gives overview of progress in Bangladesh and says reforms are progressing well in South Asian Association for Regional Cooperation region
US authorities finalise stress-testing guidance
Three federal banking agencies publish final guidance for large banks and stress community banks are not covered by the same requirements
JP Morgan loss flags shortcomings of Volcker rule
Questions raised after chief executive claims new regulation would not have prevented the risky trades that caused JP Morgan to lose $2 billion; first version of regulation may have, says Caprio
HM The Queen confirms banking ring fence plan
UK set to see controversial ring fence between retail and investment banking operations introduced after Queen includes the plan in her annual speech before the government
Basel Committee proposes scrapping VAR
Review recommends switch to expected shortfall, postpones CVA charge overhaul, and retains split between banking and trading books
Kashya Hildebrand cleared over currency trading debacle
Auditors find no breach of regulations by former Swiss National Bank governor's wife; formal investigation launched after Philipp Hildebrand resigned
New York Fed researchers investigate shadow-banking regulation
Researchers find “uneven” progress towards stabilising shadow-banking system; gaps found between optimal and actual regulation of the sector
FSB reports ‘solid’ progress on financial regulatory reforms
FSB chairman Mark Carney gives update to G-20 finance ministers and central bank governors; new reports cover D-Sibs and the sensitivities of harnessing the power of shadow banking
Video: Bank of Mexico’s Duclaud says new rules will hit sterilisation costs
Javier Duclaud explains Mexico’s problems in 2008, why the country has increased reserves by $70 billion and how Dodd-Frank and Basel III are causing sterilisation problems for central banks
Iranian central bank escapes Swiss sanctions
Swiss authorities stop short of freezing assets of Central Bank of the Islamic Republic of Iran; note the institution's importance to the country's economy in reaching the decision
CPSS and Iosco set out central bank responsibilities for FMIs
CPSS and Iosco issue new standards for financial market infrastructures; include core responsibilities for central banks and other supervisory bodies
Basel Committee highlights resource challenges in stress testing
Basel Committee on Banking Supervision releases peer review of implementation of stress-testing principles; reveals resource concerns at both banks and supervisory level
Bank of Spain governor warns against complacency
Miguel Fernández Ordóñez outlines progress made in reforming Spanish banking sector; stresses there is more to be done, and that European interventions have merely bought time to push changes through