Regulation
Haldane calls for radical rethink of accounting rules
Bank of England financial stability executive director Andrew Haldane says departure form fair-value accounting principles necessary to prevent pro-cyclical behaviour of asset prices
Financial conditions ripe to relax renminbi rules, says HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says continued growth of Hong Kong's offshore renminbi market has paved the way for more relaxed regulatory requirements
Singapore launches new regulation for credit rating agencies
Monetary Authority of Singapore issues final regulation on credit rating agencies in Singapore; measures will require individual representatives of agencies to hold special licences
Sebi considers speed limit on high-frequency trading
The head of the Securities and Exchange Board of India calls for a speed limit for high-frequency trading to protect the interests of retail investors
Solvency II may face delay as European Parliament scrutinises ‘Omnibus’ directive
A further delay to a key vote in the European Parliament on the Omnibus II directive has increased concerns that Solvency II's implementation in 2014 could be delayed
RBI issues final guidelines on bank compensation
Reserve Bank of India releases final guidelines on compensation practices for private banks operating in India; measures will come into effect later this year
Basel 2.5: US ratings workaround too punitive, banks complain
Securitisations suffer in draft rules that avoid use of credit ratings - a Dodd-Frank Act requirement
Fed champions further action to revive housing market
Federal Reserve publishes review of policies to address impediments in US housing market in bid to revitalise economic recovery
Basel implementation monitoring strategy approved
Basel Committee governing body agrees plans to monitor member countries' efforts to implement new rules; also discusses liquidity coverage ratio
ECB paper identifies challenges to creating resolution regimes
European Central Bank study compares legal aspects of bank resolution regimes in the UK and Germany
Basel statement on risk transfer could halt legitimate trades, bankers warn
Basel Committee’s focus on cost of credit protection in attempt to stamp out capital arbitrage could also hurt sound trade trades, investment banks claim
Banking structure reform gets go ahead from British government
UK government lays down plans to incorporate Independent Commission on Banking recommendations into law; process to begin next year
Basel releases consultative document on capital disclosure
Proposal could see banks complying with new disclosure requirements from the date of publication of their first set of financial statements relating to a balance sheet date on or after January 1, 2013
Bini Smaghi shares thoughts on monetary system reform
Lorenzo Bini Smaghi talks about shortfalls of international policy co-ordination and looks at ways to improve it
IMF working paper on bank competition
Researchers look at effects of intermediation technology on banking competition and financial stability
Robert Pringle’s Viewpoint: What future for European banking?
Policymakers urgently need to form a clear, strategic position on the future of banking in Europe as well as a roadmap on how to get there. This may require the nationalisation of major European banks
RBI’s Subbarao urges reforms on regulating auditors
Reserve Bank of India governor Duvvuri Subbarao says ban on auditors selling consulting services could reestablish confidence in the industry
South Korea takes heed of US sanctions on Iran
US Senate passes bill containing strict new sanctions affecting Central Bank of Iran; South Korea government warns businesses of implications
IMF delivers gloomy Greece update
IMF releases Fifth Review Under the Stand-By Arrangement for Greece; offers a bleak picture of the country’s economy and future
BoE working paper investigates capital controls
Working paper from the Bank of England looks at ways of reforming the international monetary and financial system; suggests prudential capital controls may be needed
US sanctions on Iranian central bank inch closer
Senator Carl Levin reveals Senate’s 'strong' sanctions pass negotiating panel of House and Senate representatives 'virtually intact'; clears way for momentous Bill to pass
Sri Lanka eases rules on foreign investments
Central Bank of Sri Lanka changes regulations on foreign investments and domestic firms taking out foreign loans; aims to support expanding economic activities with additional financing