Regulation
Brazil prepares for Basel III
Brazilian financial stability report announces major changes will be incorporated in the country’s legislation; bringing it into line with Basel III
UK banking commission keen on ring-fencing retail operations
Safeguards on retail banking “common sense” chairman claims; Sifis need minimum capital ratio of 10%
UAE furthers involvement in bank director appointments
New rules will allow the Central Bank of the United Arab Emirates to veto candidates for bank director positions
Fed’s Raskin calls for greater diversification of banks
Federal Reserve Board of Governors member Sarah Raskin says more diversified banking system will reduce risk of further crises
Spain’s Ordóñez on how to reap benefits from stress tests
Bank of Spain governor Miguel Fernández Ordóñez says stress tests helped increase transparency in banking sector
Irish regulator lacked 'capacity and will' pre-crisis admits Elderfield
Ireland's chief regulator has provided more detail on the recent stress tests carried out by the central bank of Ireland and plans to increase the powers of the body
Turkey’s Yılmaz on liquidity management
Central Bank of Turkey governor Durmuş Yılmaz on liquidity management issues in Islamic finance
RBI’s Chakrabarty on purpose-based lending
Reserve Bank of India deputy governor Kamalesh Chandra Chakrabarty discusses benefits of move from security-based lending to purpose-based lending in 1960s
Ireland’s Elderfield: we’ll not haircut senior debt
Matthew Elderfield, Ireland’s head regulator, assures senior bondholders in four banks they will not face “action”
UK FSA and Treasury say covered bondholders should escape bail-ins
British authorities offer six recommendations for regulatory change; signal covered bondholders will not be hit by bail-ins
Risk Europe: Tweaks to Basel III will raise deadline pressure for banks
Changes to the detail of Basel III will make timely implementation a challenge, say attendees at Risk Europe
Risk Europe: no-go on CoCos, says panel
Traditional investors won't be won over by debt that converts into equity, says conference panel - and one CoCo issuer raises threat of feedback effects
US lawmaker responds to Greenspan attack on Dodd-Frank
Former chairman of the House Financial Services Committee Barney Frank answers Alan Greenspan criticism of Dodd-Frank; launches own attack on former Fed chairman
Risk Europe: 'Humble' Basel Committee open to liquidity rule changes
The Basel Committee's Stefan Walter says door is open to changing LCR and NSFR - but it's not open wide
Lawmakers say competition in UK retail banking “non-existent”
Report by parliamentarians says pre-conditions for effective competition in retail banking market "not present”; calls for test for proposed future divestments of government-held stakes in banks
Risk Europe: Dodd-Frank rating requirement has competitive implications under Basel III
Requirement under the Dodd-Frank Act to eliminate any reliance on external credit ratings could put US banks at a competitive disadvantage under Basel III, says the Basel Committee’s Stefan Walter
Financial Stability Board publishes survey responses
Comprehensive survey answers reveal FSB member countries’ plans to conform with the G-20’s recommendations for strengthening financial stability
Russia and ECB complete co-operation programme
ECB announces the completion of a co-operation programme with the Bank of Russia, designed to improve banking supervision and internal audit in the country
Norway’s Olsen on regulatory overhaul of financial system
Norges Bank governor Øystein Olsen says regulatory overhaul of Norwegian financial markets will aid financial stability
House of Lords report slams bank audits
The House of Lords Economic Affairs Committee releases stinging report asking the UK government to consider significant reforms to the system of bank audits
Greenspan launches blistering attack on US financial regulations
Former chairman of the Fed claims the Dodd-Frank legislation does not meet “the test of our times”