Regulation
Bank of Spain's Roldán highlights Basel III flaws
Basel III’s architecture, hybrid capital and liquidity buffers among potential pitfalls; views shared by BaFin's Sanio
BaFin's Sanio: no fix for cross-border failure
Jochen Sanio says supervisors nowhere near to solving “key issue” highlighted by crisis; flags lack of communication on Lehman Brothers
Basel liquidity rules hit fresh objections
A reworking of part of the liquidity coverage ratio is rejected by the Basel Committee
Basel II grievances stir transatlantic tensions on new accord
BNP Paribas chairman Michel Pébereau slams United States’ failure to implement Basel II across the board; says Basel III will unfairly impair Europe
Trinidad and Tobago’s central bank faces legal action over bankrupt insurance giant
Disgruntled policyholders of failed insurance giant Clico demand compensation from Central Bank of Trinidad and Tobago over what they see as deficiencies in oversight
Weber, Blankfein praise Basel III leverage cap
Bundesbank president Axel Weber and Goldman Sachs chairman Lloyd Blankfein laud Basel III’s inclusion of leverage ratio, as opposition mounts
Too big to fail solution essential, says Weber
Bundesbank president Axel Weber says financial system will be unsafe unless too big to fail problem is solved
Meirelles flags travails of financial reform
Central Bank of Brazil governor Henrique Meirelles says reform must be unified; Chinese, Indian ambassadors note shortcomings of G20
No alternative to bail-in capital: Bank's Tucker
Bank of England's Paul Tucker attacks bankers' concerns that bail-in capital will rattle investors; Sweden's Ingves says conversions achievable
Look to markets for head supervisors: De Larosière
Jacques de Larosière says heads of new European Supervisory Authorities should think like market participants and have their respect
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
Banks fear soaring regulatory compliance costs: industry survey
Survey of financial firms shows three quarters of respondents expect costs of complying with Basel III, Dodd-Frank to exceed costs in past three years
Norges Bank sues Citi over subprime-related losses
Norges Bank alleges bank was deceitful over true nature of health; condemns Citi’s subprime mortgage, CDO practices
UK banking commission moots reforms
Commissioners stress they have an open mind as to which structure will best suit British banking industry
FSA’s Turner: regulator faces challenging transition period
Financial Services Authority chairman Adair Turner says restructuring of regulator will no doubt impact quality of operations
FSA worried over excessive EU rules while firm on proportionate solution for hedge fund pay
UK regulator worried heavy handed rules will drive hedge funds out of Europe, depriving supervisors of information on their European activities
MAS governor on regulatory reform
Monetary Authority of Singapore’s Heng Swee Keat notes need for better regulations, better appreciation of the macro-financial linkages, and firmer supervision
No easy alternatives to credit ratings
US regulators are right to look to curb their reliance on credit ratings. However, it will prove tricky to find viable alternatives
Norway’s Gulbrandsen: benefits of regulation outweigh costs
Norges Bank’s executive director of financial stability Kristin Gulbrandsen says tight regulation would have net social benefit