Regulation
Countries named and shamed over Basel regulation delays
Basel Committee releases progress update on regulation implementation; highlights slow progress in some countries
Islamic Financial Services Board issues new guiding principles
New guidelines focus on liquidity risk management and stress testing for institutions offering Islamic financial services; new members added at latest meeting
Central Bank of Iceland conducts dawn raid on fishing company
Icelandic officials carry out searches of fishing company Samherji’s offices; company calls for explanation
New Zealand proposes partial earlier adoption of Basel III capital requirements
New Zealand regulators have opted to bring in the capital conservation and countercyclical buffers ahead of the Basel Committee schedule – but market participants are unsure if this is necessary
Lithuanian Supervision Service gets new powers
Board of Lithuanian central bank grants Supervision Service right to exercise powers to supervise non-banking financial institutions
Thai governor says Basel III guidelines imminent
Prasarn Trairatvorakul says first draft of the Basel III capital regulatory framework and liquidity risk management guidelines to be introduced 'later this month'
Cœuré gives ECB perspective on priorities for the reform of financial regulation
Newest member of the European Central Bank's executive board talks about the key issues financial regulatory reforms must address
Auditors find no breach of SNB regulations by governing board
Audit of own-account transactions by members of the enlarged governing board of the Swiss National Bank reveals no breach of the regulations in place during the time of investigation
RBA hands over responsibility for autonomous financial sanctions
Reserve Bank of Australia no longer has regulatory responsibility for autonomous financial sanctions; Department of Foreign Affairs and Trade now handles implementation and administration of law
Deputy governor renews Bank of Japan attack on Volcker rule
Kiyohiko Nishimura reiterates Bank of Japan’s concerns over unintended consequences of Volcker rule; says “prudent assessment” of potential impact of the rule on other countries is “crucial”
Canada cracks down on Syrian central bank
Canada imposes asset freeze on Central Bank of Syria; foreign affairs minister reiterates demand that president Assad step down
Swedish authorities lambast maximum harmonisation for Basel III
Swedish Finansinspektionen and the Riksbank hold first joint meeting on macroprudential policy matters; again take on EU proposals to fix capital adequacy requirements
Use of behavioural finance will not stop next crisis, says CNB adviser
The use of behavioural economics in management decisions and supervisory models would not prevent a future crisis, says Czech National Bank adviser, Michal Skořepa
Goodhart hits out at current macro-prudential focus
Economist Charles Goodhart agrees with Robert Pringle that risk and return incentives need to change at banks to ensure future financial stability. But permitting failures is a step too far
Volcker rule will not be ready for July, Fed chair admits
Expert predictions of delayed start date proven correct
Chinese government hampering financial industry, World Bank warns
New World Bank report sees flaws in China's regulatory system
Regulators ignore data challenges at their peril, say CBJ authors
Standards-setters around the world seeking to improve financial stability are destined to fail unless they can get to grips with core data needs, according to the authors of a new Central Banking Journal article
Boston Fed paper evaluates impact of accounting standards on institutions
Boston Fed researcher finds that implementing fair-value accounting may not necessarily provide financial statement users with more transparent and useful reporting
De Larosière fears another crippling credit crunch in Europe
New international banking regulations aimed at cleaning up the financial system could cause a crippling credit crunch in Europe, says Jacques de Larosière
HKMA’s Chan says fiscal cuts are essential for Europe
Hong Kong Monetary Authority chief executive Norman Chan says Europe must make deep fiscal cuts to regain market confidence. Talks about macro-prudential regulation, the Hong Kong dollar peg and the internationalisation of the renminbi
Macro-prudential powers are no panacea
Central banks will take on substantial new macro-prudential supervisory powers in the years ahead. But this is a dangerous experiment, and a step in the wrong direction
HKMA head Norman Chan on bank regulation and the renminbi
Chief executive tells Christopher Jeffery that central bankers need to be proactive in dealing with asset bubbles. He also explains Hong Kong’s role in the renminbi's internationalisation
New fault lines in financial regulation
Deleveraging could trigger another crippling credit crunch in Europe at a time when the recovery is still fragile. By Jacques de Larosière