Banks
ECB denies it rejected Spanish recapitalisation plan
European Central Bank denies it has refused Spanish authorities’ plans to recapitalise a major bank in the country; European Commission discusses direct disbursement to banks from ESM
Ireland central bank proposes changes to regulatory reporting
Central Bank of Ireland publishes consultation paper on regulatory reporting; proposes move to a new online reporting system
New York Fed article proposes capital regulation framework
Article suggests new framework for regulating capital; attempts to limit risk-taking while preserving creditors’ disciplining incentives
Kansas Fed president supports bankers on boards of directors
Esther George says there is a place for bankers on Federal Reserve Bank boards of directors; but if they contravene the code of conduct, they should resign
BoE’s Bailey debunks ‘dangerous’ free banking myth
Andrew Bailey says reform of UK banking sector is needed to include upfront charges on banking services; calls current supposedly free in-credit banking a "dangerous myth"
Euroclear announces new chairman
Marc Antoine Autheman elected to take over as chairman from January 1, 2013; becomes deputy president in the meantime
Central Bank of Azerbaijan tackles counterfeiting
Central bank hosts workshop on combating currency counterfeiting; cash managers from banks and law enforcement agencies are told the local currency has become "strong"
Fiji governor highlights importance of microfinance
The governor of the Reserve Bank of Fiji opens microfinance expo; encourages participants to gain greater understanding of microfinance
Bahrain executive director on growth of Islamic funds
Importance of Islamic finance highlighted by Central Bank of Bahrain executive director; considers methods to encourage growth in the industry
BIS paper examines macro-prudential models and tools
Working paper considers the effectiveness of macro-prudential models in understanding the role of the financial sector in relation to the real economy
BIS paper studies financial transmission channels
Working paper analyses role of financial system in affecting economic growth and stability; emphasises importance of financial sector in macroeconomic models
IMF paper quantifies structural subsidies for Sifis
Researchers from the International Monetary Fund estimate value of subsidies implied by expectations of government support for Sifis; find a sizeable cost advantage for these institutions
Ukraine releases banking group identification regulation
New regulation brings Ukraine further into line with EU and Basel Committee principles; describes how banking groups come to be classified as such in the country
State Bank of Pakistan decides to implement IBAN
Pakistan to see International Bank Account Number system fully in place by June 2013; central bank hopes change will make payments more efficient in the country
Bank of Russia reports solid financial stability in 2011
Financial Stability Review paints good picture of Russian economy in 2011; details steps taken to ensure continued stability
IMF paper studies credit growth in the Philippines
Research analyses determinants of credit growth and interest margins in the Philippines and Asia; finds factors such as higher growth and lower inflation reduce net interest margins
National Bank of Ukraine publishes Encyclopaedia of Banking
First in a set of books explaining the banking system in Ukraine is released; series forms part of the celebrations of the central bank’s 20th anniversary
US authorities finalise stress-testing guidance
Three federal banking agencies publish final guidance for large banks and stress community banks are not covered by the same requirements
Central Bank of Cyprus governor warns austerity is not enough
Panicos Demetriades calls on government to work alongside the central bank in getting the economy back on track; acknowledges impact the crisis in Greece is having on Cyprus
Norway’s Olsen advises banks to further strengthen capital ratios
Introducing the latest Financial Stability Report, governor of the Norges Bank urges banks to retain earnings to boost loss-absorbing capacity
Asia regional FSB discusses deleveraging in Europe
Financial Stability Board Regional Consultative Group for Asia focuses on problems arising due to deleveraging of European financial institutions; also share thoughts on recent FSB initiatives
JP Morgan loss flags shortcomings of Volcker rule
Questions raised after chief executive claims new regulation would not have prevented the risky trades that caused JP Morgan to lose $2 billion; first version of regulation may have, says Caprio
Bernanke says stronger banks will lead to 'robust' economy
Fed chair outlines progress made by financial sector; says improved credit conditions will play a part in creating a robust economy in the US
Bank of Spain plays down bank nationalisation talk
Spanish central bank says customers and depositors of Banco Financiero y de Ahorros have "no cause for concern" as the possible use of public funds to stabilise the firm is discussed