Regulation
Value in money laundering doubles in China
The amount of money involved in money laundering in China has more than doubled in 2005 from RMB4bn ($500m) to RMB10bn ($1.25bn), the central bank said on Thursday 24 August.
Russia raises reserve requirements
Russia's central bank has increased minimum required reserves on foreign bank deposits from 2% to 3.5% in an effort to combat inflation.
Bangladesh Bank acts on corruption
Bangladesh's central bank has taken action against seven of its officials for allegedly siphoning off money and defaulting on loan repayments.
Bank of Ghana governor on fraud
Paul Acquah, governor of the Bank of Ghana urged investigators to review operations in the light of the increasingly sophisticated methods involved in financial crime.
The benefits of Basel's Core Principles
A staff paper by Richard Podpiera of the IMF explores the relationship between banking sector performance and the quality of regulation and supervision as measured by compliance with the Basel Core Principles for Effective Banking Supervision (BCP).
How cashless payments will reshape Asian commerce
Sayan Pariwat makes the case for electronic payments in economies where cash is still king
Esca expects to gain greater authority
The Emirates Securities and Commodities Authority (Esca) will gradually execute all functions of the financial authority, Gulf News reported.
UK freezes bank accounts of terror suspects
The Bank of England said Friday 11 August it had frozen the accounts of 19 of the 24 men arrested in an alleged terror plot, and publicly released their names.
Zimbabwe seizes trillions of old notes
State media reported on Wednesday 9 August that Zimbabwe security agents had seized more than Z$10-trillion (about $40m) in old banknotes at the country's main airport in a campaign against money laundering.
A contrasting tale of two central bankers
According to the article "From Poland to Japan: a contrasting tale of two central bankers" from The Japan Times, published Monday 7 August, Poland's new leaders look set to concentrate the entire spectrum of financial supervisory powers in the prime…
NY Fed's Rutledge on on compliance
In the speech 'Supervisory perspectives on compliance for international banks operating in the United States' given on 25 July William Rutledge of the Federal Reserve Bank of New York examines the challenges that globalization, financial innovation and…
ECB's Opinion on National Bank of Poland law
The European Central Bank on Thursday 3 August published an Opinion in which it expressed concern over proposed amendments to National Bank of Poland statutes which relate to changes in the composition of the Banking Supervision Commission.
Revised Bank Secrecy Act Manual
A revised "Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual" has been issued. The manual, effective 1 August, provides current and consistent risk-based guidance for banking organizations to comply with the BSA and safeguard operations…
Reddy on banks and service to the common person
In the speech 'Banks and service to the common person' given on 1 July Y V Reddy of the Reserve Bank of India said the Reserve Bank has taken several regulatory initiatives including issuance of guidelines to banks on various customer-related issues.
Greek banking sector "needs supervision"
According to the commentary 'Our banking sector needs supervision', published Saturday 29 July, by the Kathimerini, the Bank of Greece is shirking its supervision responsibility.
IMF warns Poland over super-regulator
The International Monetary Fund has warned Poland that plans for a unified financial services supervisory agency could expose the system to political interference, the Financial Times reported.
FMC's Basel II Update
The Financial Markets Center published a new survey on Monday 24 July indicating that global implementation of Basel II capital standards is occurring at an uneven pace and only a minority of countries will meet the target starting date of January 2007.
BOJ strengthens internal regulations
The Bank of Japan's board approved internal rules on Friday 21 July that ban its leadership from engaging in most types of transaction.
SARB Bank Supervision Annual Report 2005
According to the South African Reserve Bank's Bank Supervision Department Annual report 2005, during 2005, the South African banking system remained stable, and, in general, banks were sound and continued to benefit from South Africa's economic health.
Iran doesn't need more central bank independence
According to the Mehr News Agency, Iran's deputy economy minister has said the Central Bank of Iran (CBI) does not need more independence.
Hedge funds will be regulated, one way or another
According to this article by Bloomberg, published Friday 14 July, although a US court blocked the Securities and Exchange Commission from regulating hedge funds, the business hasn't permanently escaped the grasp of regulators.
Barbados' Williams says hands off her staff
According to the Barbados Nation, the governor of the central bank of Barbados, Dr Marion Williams, has asked commercial banks to stop poaching her staff.
BMA's Al Sadah on Islamic financial services
In the speech 'Challenges facing the Islamic financial services industry' given on 11 June Anwar Khalifa Al Sadah of the Bahrain Monetary Agency said Islamic banking is dominated by small institutions.
Panel recommends BOJ disclosure rules
An advisory panel on Thursday 6 July recommended that the Bank of Japan should require its top officials to disclose personal financial assets.