Regulation
UK FSA risk chief Dewar resigns
Financial Services Authority's head of risk Sally Dewar will leave the role in May 2011 as uncertainty persists over the regulator's future; Dewar to follow chief executive Hector Sants
Basel III will cost 9m G3 jobs by 2015, say banks
Institute for International Finance report estimates will lead to euro area growth being 4.3% lower in five years’ time
IMF: Sub-Saharan banks are cost efficient
Fund study on Sub-Saharan Africa finds banks in the region are cost efficient, but can do better if regulation is improved
Irish CB “taking action” to fix flaws, says governor
Governor Patrick Honohan tells CentralBanking.com the institution is rectifying cultural and structural problems flagged by his report into central bank’s pre-crisis performance
Europe raring to go on CDS rules, bank taxes
Brussels praises the political dynamic behind move for tightened financial regulation as French president Nicolas Sarkozy and German chancellor Angela Merkel call on Commission to speed up work
FDIC's Bair on mortgage reform
Federal Deposit Insurance Corporation chairman Sheila Bair makes the case for more responsible mortgage lending
Ireland’s Honohan to criticise central bank’s role in crisis: reports
Irish media say report authored by central bank chief Patrick Honohan will charge his own institution and the financial regulator with having failed in the lead up to the country’s banking crisis
G20 ditches controversial global bank tax
Finance ministers splinter on international banking levy, complicating individual countries’ promises to adopt a tax; group unites in call for Basel III to be completed by year-end
Ten legal gaps Europe’s regulators must close
René Smits identifies ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Brussels calls for European ratings supervisor
European Commission proposes new body to oversee all credit ratings agencies operating in the European Union; security issuers must provide information to all agencies to boost competition
Barroso moots European ratings agency
European Commission president's calls echo those of Michel Barnier; says proposals will be released in September
HKMA's Chan: markets will be punished if lessons are not learnt
Hong Kong Monetary Authority chief executive Norman Chan warns over complacency in regulating markets
Venezuela to reopen bond markets
Central bank says tests of new centralised trading system nearly complete; follows closure to cut off parallel currency market
Risk Europe: Industry should stop fighting Basel III and focus on transition
Senior Basel Committee member tells banks to get involved in negotiations over the phase-in period for Basel II reforms
Banks starting to think local after crisis, BIS finds
Banks around the world are slowly shifting to rely on local retail funding, says the Bank for International Settlements
Sarb - Banking Supervision Annual Report (2009)
Sarb banking supervision annual report puts forth proposals on compensation practices to be used in new banking sector legislation
Brussels backs bank tax to fund new resolution network
European Commission calls for a network of resolution funds to bear cost of winding down firms; cost covered through levy on lenders
US, Chinese regulators sign cross-border resolution deal
Federal Deposit Insurance Corporation and China Banking Regulatory Commission to cooperate and write shared contingency plans for cross-border failures; move follows United Commercial Bank failure
Interview: Howard Davies
The founding chairman of the UK Financial Services Authority discusses Britain’s new regulatory architecture, weaknesses in the European Central Bank’s voting arrangements, and how inflation targets need to change
An open letter to the chancellor of the exchequer
The UK government’s plans for financial regulation are far from clear, writes Bill Allen, a former deputy director at the Bank of England
Iosco calls on regulators to share information
International securities body says members should cooperate outside an enforcement context to spot disturbing trends; report sets out principles of bilateral information-sharing deals
Securities and Exchange Commission appoints new chief financial officer
SEC's appointment of new chief financial officer follows criticisms last year from the US Government Accountability Office