Banks
Reserve Bank of Zimbabwe backs mandatory bank takeovers
Governor Gideon Gono says foreign banks must observe ‘indigenisation' laws, which force them to hand majority ownership to local people; foreign direct investment flight continues
Basel report proposes curbs on bank modelling choices
Basel Committee report finds ‘considerable variation’ in risk-weighted assets for bank trading books; says policy-makers should consider limiting modelling options and improving disclosure
UK parliamentary commission attacks regulators’ ability to hold bankers to account
FSA enforcement head defends authority’s integrity; BoE chief legal adviser confident the central bank’s new supervisory divisions are up to the job
IMF paper says central banks are hoarding good collateral
Study finds pools of good collateral are evaporating as a result of unorthodox central bank policies; regulation is amplifying the trend
Bank of Russia warns some banks must enhance capital adequacy
Financial stability review says financial conditions remain ‘quite favourable’, but raises concerns over a downward trend in capital adequacy
Bank of Italy gives green light to €3.9bn MPS bailout
Executive board approves disbursement of bailout funds to Monte dei Paschi di Siena, although the bank insists the situation is ‘completely under control’
Luxembourg paper says banks’ profitability will not suffer at hands of Basel III
Study says new liquidity coverage and capital-to-asset ratios will have little impact on banks’ return on assets
Banks rush to repay LTROs at first opportunity
Repayments of the European Central Bank’s long-term refinancing operations exceed many analysts’ expectations, as 278 banks choose to pay back nearly 30% of the total
Banking crises scar labour productivity, finds BoE paper
Research says short-term growth of productivity and long-run levels are damaged by financial and banking crises
ECB working paper highlights success of LTROs
Researcher finds three-year long-term refinancing operations significantly boosted European growth prospects and eased lending conditions
Ingves deflects criticism of ‘complex’ Basel III framework
Basel committee chairman says it is naïve to think complex banks can be regulated by simple rules, following criticism of Basel III’s ‘overly complicated’ system of risk weights
Bank of Spain charts economy’s downward acceleration
Data for fourth quarter show economy continuing to spiral downward, with contractions in growth and demand gaining pace
BoJ paper challenges FSB governance style
Discussion paper asks whether ‘new governance’ model used by Financial Stability Board is effective, and suggests possible avenues for reform
Dallas Fed calls for a return to 'traditional' system of smaller banks
Special report advocates limiting the size of banks; champions a return to less public support and greater market discipline
IMF research examines ‘borrower effects’ during crisis
Working paper constructs index to assess the contribution of risky borrower portfolios in tightened overall credit conditions during a financial crisis
EBA-Esma report slams Euribor administrator
Study uncovers ‘weaknesses and insufficiencies’ in benchmark rate-setting process and says prompt action must be taken to address shortcomings
MAS sets out FMI supervisory framework
Monograph gives details of Monetary Authority’s approach to regulating financial market infrastructures in line with CPSS-Iosco principles
Mauritian deputy governor outlines tighter corporate governance plans
Yandraduth Googoolye sets out recent efforts by the Bank of Mauritius to tackle corporate governance failures that emerged during the financial crisis
RBI seeks to draw retail investors into government securities
Deputy governor Harun Khan says tailoring government securities to retail investors will help cushion volatility created by institutional and international investors
Pakistan’s Anwar presents plan for financial system growth
Governor of the State Bank of Pakistan gives 10-point plan for growth in the financial system to boost the economy and improve the ‘potency’ of monetary policy
Bank of Spain executives hit back at negligence claims
Executive commission rebuts claims made in a leaked internal report that the central bank’s supervisory department tended to ‘look the other way’ when there were signs of criminal activity
Bank of Korea warns of forthcoming credit tightening
Bank lending survey finds a recent trend of credit easing is likely to be reversed in the first quarter of 2013; credit risk expected to run at ‘high levels’
Netherlands Bank report urges restructuring of mortgage finance
First meeting of the Netherlands Bank’s Financial Stability Committee endorses action to address risks surrounding high mortgage indebtedness
Minneapolis Fed research challenges banks’ reliance on short-term debt
Policy paper calls short-term funding as a foundation for efficient payments an ‘artefact of a bygone era’, and suggests reforms to banks’ funding models