Regulation
Wellink keen on expanding Basel III rules
Basel Committee chairman Nout Wellink says further improvements to new Basel rules will increase quality of capital base
Reform missed chance to fix mortgage markets: Volcker
Former Federal Reserve chairman Paul Volcker says US mortgage markets are dysfunctional due to reliance on government; renminbi appreciation in China’s own interest
BIS’s Caruana lauds Basel III
Bank for International Settlements general manager Jaime Caruana spells out importance of Basel III capital reforms
Prop trading restrictions already hurting liquidity, say investors
Restrictions on bank proprietary trading have caused liquidity to fall in both the cash and derivatives markets, forcing buy-side participants to adopt alternative investment strategies
Bank’s Bailey places public at heart of stability remit
Bank of England’s Andrew Bailey says public acceptance of stability goal necessary to stave off future crises
NBER: narrow funding banks will help regulate ABS market
National Bureau of Economic Research study proposes new narrow funding banks to help regulate asset-backed securities
EMEs deserve bigger role in reform debate: DIFC, CIC officials
Dubai International Financial Centre's Nasser Saidi and China Investment Corporation's Jin Liqun say emerging markets' prominence set to endure, mandating bigger voice in regulatory reform process
Subbarao tackles dilemmas in central banking
Reserve Bank of India governor opines on five challenges facing monetary authorities
HKMA warns on renminbi product risks
Hong Kong Monetary Authority executive director calls for caution in due diligence and supervisory assessment of renminbi products
Basel III: Banks fret about return on equity
Investors could shun bank equity if higher capital levels cause returns to slip
Central banks are preferred regulators: CentralBanking.com panel
Charles Goodhart, Sir John Gieve and Paul Mortimer-Lee say regulation is best housed within the central bank but warn challenges remain
Goodhart attacks new European supervisory structure
Academic labels three new watchdogs “a waste and a mistake”; former financial secretary Lord Myners scornful of Basel III
Impact of Basel III core capital standards remains unclear, analysts say
As governors back higher capital standards, ex-Bank of England special adviser argues economic impact remains difficult to pin down; commentators say reforms do not address risk attitudes
Subbarao concerned over Basel III countercyclical measures
Reserve Bank of India governor Duvvuri Subbarao cites concern over variable likely to be used to calibrate countercyclical buffers
Basel Committee has agreed on capital ratio: Buba’s Zeitler
Senior officials set to meet on Sunday to discuss the proposal
Margaret Cole joins UK FSA Board
Financial Services Authority promotes Margaret Cole to board as managing director of enforcement and financial crime
Banks need more time to reform pay standards: IIF
Institute of International Finance says lenders need more than year to bring pay standards in line with Financial Stability Board’s principles; regulators must speed up coordination efforts
MEPs win out on powers for new European supervisory bodies
Pan-European authorities will have the power to impose emergency measures and intervene with financial institutions, after parliamentarians gained ground in compromise agreement
Islamic banks affected differently by crunch: IMF
IMF research finds Islamic banks outperformed conventional rivals in 2008, but trend was reversed following year
NY Fed: capital structure best left to the market
New York Fed research supports view that some degree of leverage may ensure appropriate bank behaviour