Regulation
East Asian integration must be monitored: Fukui
East Asia's growing economic and financial integration must be closely monitored to avoid negative side effects, said Toshihiko Fukui, the governor of the Bank of Japan.
Federal Reserve hardens rules on subprime lending
The Federal Reserve on Tuesday issued a set of proposals for firmer regulations on subprime lending practices aimed at protecting consumers from unfair and deceptive home mortgage lending and advertising.
Old Lady denies reports of government criticism
The Bank of England countered reports published over the weekend that an unnamed senior Bank of England official had said low government morale was blocking plans for a fundamental overhaul of the financial regulatory system.
RBNZ set to regulate insurance industry
The Reserve Bank of New Zealand on Monday became responsible for regulating all life, health and general insurance providers.
US-style scheme could have stopped Rock run
A US-style deposit insurance scheme would have been a "real help" in halting the run on Northern Rock, Britain's chief regulator said on Tuesday.
Padoa-Schioppa urges haste on EU supervision
Europe must act decisively to enhance its supervisory structures, said Tommaso Padoa-Schioppa, Italy's economy and finance minister, on Tuesday.
SEC's Cox warns on SWF state ownership
The fundamental question on sovereign wealth funds does not concern the advisability of foreign ownership, but rather of government ownership, says Christopher Cox, the head of the Securities and Exchanges Commission (SEC).
UK regulator warns on worsening liquidity risk
Mortgage lenders must protect themselves against the "very real prospect" that liquidity conditions will worsen in 2008, Clive Briault, the retail managing director at the Financial Services Authority (FSA), Britain's banking regulator, said on Tuesday.
Trichet pushes for regulatory convergence
Progress towards more consistent EU banking rules and cross-border information sharing is absolutely critical, Jean-Claude Trichet, the president of the European Central Bank, said on Monday.
Pre-crunch poll supports Basel II stability claim
The introduction of the Basel II regulatory framework, which has faced a barrage of criticism in the wake of the credit crunch, will make the financial system sounder and encourage better risk management, according to a poll conducted the Professional…
Basel Committee publishes co-operation guidelines
The Basel Committee on Banking Supervision has published guidelines on how authorities should co-operate on home-host arrangements and allocation mechanisms.
UK regulator sticks to stance despite Rock run
Britain's head regulator defended the Financial Services Authority's (FSA) principles-based approach, saying that it offers the "best chance" of balancing "the benefits and risks of innovation."
Fed's Stern cautions on response to turmoil
Rating agency reform in the wake of the subprime debacle could cost the economy more than doing nothing, Gary Stern, the president of the Minneapolis Federal Reserve, has warned.
Basel II will strengthen US markets: Kroszner
Basel II's introduction will enhance financial stability in the United States, says Randall Kroszner, the governor responsible for regulation at the Federal Reserve.
Scrap agencies' role in Basel: ex-UK rate-setter
Basel II needs to go back to the drawing board before it is even out of the blocks because of rating agencies' influence in the framework, says Willem Buiter, a former member of the Bank of England's monetary policy committee, now a professor at the…
Regulators need to better enforce securities laws
The effectiveness of securities market legislation is limited by regulators' lack of ability to effectively enforce compliance, research published by the International Monetary Fund finds.
IMF issues op-risk guidelines
The International Monetary Fund has published guidelines on enhanced market practice and more effective prudential standards for operational risk measurement.
Fed finally gives Basel II the green light
The Federal Reserve Board on Friday approved the American version of the Basel II framework on risk-based capital requirements. It is the last of the Group of Ten countries, which developed the framework, to do so.
Kroszner suggests rules to avert another subprime
US financial regulators need to introduce a set of guidelines on loan modifications in the wake of the subprime crisis, according to Randall Kroszner, a governor at the Federal Reserve.
London office for US regulator?
Christopher Cox, the chairman of the Securities and Exchange Commission (SEC), the chief regulator in the US, said it would select either London or Brussels for its European office, part of its strategy of building a closer relationship with its foreign…
New Zealand adapts as regulatory role expands
The Reserve Bank of New Zealand said on Thursday that it would restructure its financial stability department in order to cope with the central bank's expanding role in maintaining the country's financial system.
Albania to get regulatory overhaul soon
The Bank of Albania will soon implement rules to lower the risk of financial instability, according to Ardian Fullani, the governor of the central bank.
UK regulator set to clamp down on hedge funds
The Financial Services Authority, the British financial regulator, said on Monday that it will formally assess hedge funds after an initial survey found market abuse prevention in some funds to be poor.
CBs must note credit crunch effect of Basel II
The procyclical effects of Basel II could increase the likelihood of credit crunches in downturns. Patricia Jackson, the head of the Prudential Advisory team at Ernst & Young and a former member of the Basel Committee, believes it is important for…