Basel III
The flaws in the Fed's new macro stress test proposals
New macro stress test proposals by the Fed and ECB appear to conflict with rules put forward by the UK, and are raising concern in countries where financial institutions are relatively robust
Dombret urges international collaboration on regulatory reform
Deutsche Bundesbank’s Andreas Dombret wants greater international co-ordination on regulatory reform; says countries should honour their commitments
RBA payments manager discusses challenge of Basel III deadline
Reserve Bank of Australia’s Mark Chambers says countries are struggling to implement Basel III framework in time; highlights obstacles facing Australian policy-makers in introducing regulations
New Zealand paper finds costs and benefits of stable funding requirement
Discussion paper examines effects of minimum stable funding ratios under Basel III; suggests ratio reduces credit expansion but amplifies pro-cyclical effects of wholesale funding spreads
Basel Committee releases interim rules for CCP capital requirements
Interim rules update Basel II capital requirements framework for banks exposed to central counterparties; rules may still be adjusted as other elements of Basel III are finalised
BoE’s Jenkins examines severity of Basel regulations
Bank of England Financial Policy Committee member, Robert Jenkins, says Basel III requirements are not too tough on banks; argues higher capital levels do not harm the economy or bank shareholders
New Zealand central bank publishes statement of intent
Statement emphasises commitment to price stability as “primary goal”; highlights need to adapt to macroeconomic environment in setting monetary and macro-prudential policy
Basel Committee reveals final rules on capital disclosure
Final rules published on disclosure of banks’ capital composition as well as consultative document on risk reporting; committee aims to reduce financial stability risks from international banks
Bank boards have little time to focus on business risk, says Scotiabank chief
Canadian bank chief believes pressing need to meet raft of new regulations means top bankers have little time to focus on business risks; says ‘small’ and ‘uncomplicated’ banks fail too
UK ‘catching up’ on collateral eligibility, say CBP panellists
Central Banking ON AIR event sees discussion of central bank decisions to extend collateral eligibility; panellists stress diversification should be executed with care in non-crisis times
FSB report highlights countries behind on OTC reforms
Progress report shows many countries failing to implement OTC derivatives market reforms; calls for 'aggressive push' to meet deadline
SNB reports on countercyclical capital buffer implementation
Swiss National bank report clarifies the central bank’s role in the implementation of a new countercyclical capital buffer in line with Basel III
JP Morgan loss was bungled attempt to cut Basel III RWAs, says Dimon
Loss-making unit's RWAs would have tripled under Basel III, JP Morgan chief executive says - but attempting to cut capital burden made its hedges more complex
UK banks must remain under national supervision, says Lloyds chief
Lloyds Banking Group chairman says it is 'crucial' UK banks remain under national supervision; calls for more forward-looking regulation
Malaysia releases Basel III proposals
Bank Negara Malaysia issues concept paper setting out plans to strengthen capital adequacy standards for banking institutions; requests feedback on requirements, which follow Basel III recommendations
Bangladesh bank governor discusses macro-prudential reforms
Atiur Rahman gives overview of progress in Bangladesh and says reforms are progressing well in South Asian Association for Regional Cooperation region
European finance ministers agree on Basel III rules
Capital requirement regulations relaxed to allow unanimous support of regulations to implement Basel III; European Parliament negotiations next
Reserve Bank of New Zealand to release latest Basel III proposals
Deputy governor of Reserve Bank of New Zealand says central bank will shortly submit its latest Basel III proposals; continuing fears over global economy highlighted in Financial Stability Report
Basel Committee proposes scrapping VAR
Review recommends switch to expected shortfall, postpones CVA charge overhaul, and retains split between banking and trading books
FSA’s Turner outlines reforms needed in eurozone
Adair Turner sets out reforms necessary for eurozone stability; calls for creation of euro bonds and greater fiscal integration
Sarb revises growth forecasts upwards for 2012
South African Reserve Bank publishes Financial Stability Review; revises growth estimate upwards
Video: Bank of Mexico’s Duclaud says new rules will hit sterilisation costs
Javier Duclaud explains Mexico’s problems in 2008, why the country has increased reserves by $70 billion and how Dodd-Frank and Basel III are causing sterilisation problems for central banks
Interests of investors and supervisors are aligned by Basel reforms, says BIS chief
Bank for International Settlements general manager believes Basel reforms pose no long-term conflict of interest between bank shareholders and supervisors
Countries named and shamed over Basel regulation delays
Basel Committee releases progress update on regulation implementation; highlights slow progress in some countries