Regulation
SEC approves credit rating agency reforms
Securities and Exchange Commission unanimously votes in rules and amendments for greater transparency of credit rating agencies' operations
IMF paper addresses asset shortages in emerging markets
Fund study says greater capital market development and regulatory reform can raise supply of financial assets in emerging markets
Crisis propagated liquidity shortage: Bank of Canada paper
Bank of Canada study shows banks that rely on wholesale funding were worst affected during the crisis
Zimbabwe demands foreign banks hand over majority stake to locals
Reserve Bank of Zimbabwe governor Gideon Gono says central bank will outline penalties for foreign banks failing to adhere to controversial indigenisation law
Eurostat continues to deny knowledge of Greece-Goldman swaps
Statistics body insists it only found out about the controversial cross-currency swaps between Greece and Goldman Sachs in 2010
Malaysia’s Zeti urges more reforms to Islamic financial system
Bank Negara Malaysia governor Zeti Akhtar Aziz calls for further development of cross-border framework in Islamic financial system
Trichet on the building blocks for financial reconstruction
European Central Bank president Jean-Claude Trichet describes three ways in which finance must be rebuilt
Bernanke: Fed striving to ensure level playing field
Federal Reserve chair Ben Bernanke outlines road map ahead for Basel Committee and the Financial Stability Board
Basel Committee unveils final proposals on pay
Basel Committee on Banking Supervision reveals risk-adjusted remuneration report; urges large firms to move away from remunerating employees based purely on their profits
China to ‘strengthen investigation' into shadow banking problems
“Risk control situation is grim,” warns top banking regulator
Bair to leave FDIC in July
Federal Deposit Insurance Corporation chair Sheila Bair set to depart in the summer after five years at the helm
IIF: cross-border resolution regime an ‘absolute priority’
Global trade body for banking industry calls on G-20 to set up task force; calls on banks to identify “critical functions” that need to be preserved in the event of failure
Elderfield details Ireland's new risk assessment model
Matthew Elderfield, head of financial regulation at the Central Bank of Ireland, reveals details of new ‘Prism’ risk assessment model
SEC proposes amendments to remove references to credit ratings in rules
SEC makes latest changes to bring legislation into line with Dodd-Frank; proposes numerous changes to the Exchange Act
Hong Kong plans to regulate credit-rating agencies
Hong Kong announces it will begin regulating credit-rating agencies from June; agencies and analysts must apply for licences
Ireland’s central bank failed to alert regulators to mounting crisis: banking report
Ireland’s Commission of Investigation into banking crisis says Central Bank of Ireland missed opportunities to alert regulators to impending risks in banking sector
Nine securities regulators to join Iosco
International Organisation of Securities Commissions (Iosco) announces nine regulatory authorities have been invited to join
NY Fed paper proposes two-tier capital model
New York Federal Reserve study suggests creating a two-tier capital model to solve leverage conflicts
Non-US sovereigns should collateralise swaps, say US bank regulators
Progress towards sovereign collateral posting has been slow. Now, US regulators are proposing to make it mandatory - for all non-US entities
ECB’s Bini Smaghi calls for level playing field in prudential supervision
European Central Bank executive board member Lorenzo Bini Smaghi says level playing field between European regulators would create more uniform bank resolution regime
Risk management reforms a work in progress: IIF survey
Institute of International Finance survey says further progress on risk management reforms necessary; calls for more work to promote appropriate risk culture
FSB outlines road to shadow banking regulation
Financial Stability Board sets out detailed definition of shadow bank; outlines possible future steps to better regulate the system
NY Fed’s Dudley warns against uneven banking reform
New York Federal Reserve president William Dudley says focus on competitiveness in banking reform would ultimately leave countries open to huge tail risks