Basel III
Norway’s Olsen on regulatory overhaul of financial system
Norges Bank governor Øystein Olsen says regulatory overhaul of Norwegian financial markets will aid financial stability
Bini Smaghi on growth benefits of larger bank capital
European Central Bank executive board member Lorenzo Bini Smaghi says higher capital buffers essential to growth objective
HSBC chair expresses concern over new rules on global Sifis
HSBC chair Douglas Flint says additional loss absorbency for global systematically important financial institutions should apply to greater number of firms
RBA’s Edey calls for more debate on regulating cross-border banking
Reserve Bank of Australia assistant governor Malcolm Edey urges further debate on internationalisation of banking industry
RBNZ’s Bollard plays down benefits of macroprudential tools
Reserve Bank of New Zealand governor Alan Bollard says expectations that macroprudential instruments will bolster financial system must be realistic
OpRisk USA: Dodd-Frank clouds Basel III implementation
Requirement to remove credit ratings causing a headache for regulators
Risk officers concerned about regulators’ approach to branch liquidity
Some risk officers at international and domestic banks in the Asia-Pacific region are frustrated by the regulatory focus on country-by-country stress tests and a trend towards branch liquidity.
An overemphasis on risk models was the key flaw in the regulatory architecture
Risk models are useful for banks’ risk managers, but regulators should beware, Brandon Davies notes
Buba’s Weber says negative growth effects of Basel III unfounded
Bundesbank president Axel Weber says higher Basel III capital requirements will have positive long-term implications on growth
Korea’s Kim outlines obstacles to financial surveillance
Bank of Korea governor Kim Choong-soo articulates difficulties in financial sector surveillance, global policy coordination
Basel III reduces output volatility: NY Fed paper
New York Federal Reserve study says rise in capital buffers leads to decline in output and output volatility
Higher capital rules don’t restrict capacity to lend: Bank’s Miles
Bank of England external rate-setter David Miles takes issue with linking tougher capital stance to reduced ability to lend; says Bank should not rush to temper inflation
Countercyclical buffer could be big help to output: BIS paper
Research by the Bank for International Settlements says Basel III’s countercyclical capital buffer could have “sizable” hand in preventing output falls
Geithner slams UK for light-touch regulation
US Treasury secretary Timothy Geithner says UK’s light-touch approach to regulation was a deeply costly strategy; says creating level playing field for banks will be crucial
Basel alone will not protect us: UK Treasury Committee’s Tyrie
UK Treasury Select Committee chair Andrew Tyrie says fundamental changes to the way banks are supervised a must; tripartite system left no one in charge
Interview: Andrew Tyrie
The chairman of the UK’s Treasury Select Committee talks to Claire Jones about the future of financial regulation, why he’s a sceptic on Basel and reining in a more powerful Bank of England
UK Treasury fleshes out new regulatory set-up
UK Treasury details powers of the new macroprudential body; rebrands Consumer Protection and Markets Authority to reflect underlying purpose
UBS investment chief claims Swiss capital ratios too high, won’t hold
Chief executive of UBS’s investment bank Carsten Kengeter suggests 19% capital requirement may be watered down; says rules will “always be broken”
Danish regulators push for more flexible Basel III liquidity rules
Shortage of high-quality liquid assets prompts Danish regulators to push for changes to the liquidity coverage ratio within the EU capital requirements directive
HKMA end-of-year review says banking sector resilient
Hong Kong Monetary Authority end-of-year review says banking sector remains resilient; plans to step up regulation of banks in 2011
Basel III should aim higher on capital targets: Bank research
Discussion paper published by Bank of England and co-authored by external rate-setter David Miles suggests Basel III common equity requirements are too low
IIF’s Oudéa calls for G-20 taskforce for cross-border resolution
Institute for International Finance’s Frédéric Oudéa says G-20 taskforce will stir up political will for agreement on cross-border resolution
ECB opines on Basel countercyclical buffer
Central bank cautions against mechanical application of credit-to-GDP ratio for calibration
Basel III will cause ‘financial Darwinism’: BaFin’s Sanio
Top German regulator Jochen Sanio says Basel III will squeeze weaker banks, spur formation of large banking groups that will pose more systemic risk