Dodd-Frank Act
Fed's Tarullo reviews Dodd-Frank implementation progress
Federal Reserve governor tells Senate committee the Fed is at the ‘beginning of the end of the rule-making process', with the emphasis soon to shift to enforcement of the rules
FDIC clarifies approach to use of credit ratings
Article in latest edition of FDIC’s Supervisory Insights sets out expectations regarding credit risk due diligence, explaining what role credit ratings should play in making investment decisions
Pianalto says financial regulation should learn from monetary policy transparency
Financial regulation can benefit in the same way as monetary policy has from transparency and forward guidance, says Cleveland Fed president Sandra Pianalto
Japan delays cross-border rules amid US and European uncertainty
Equivalence and substituted compliance issues must be resolved quickly, or financial markets will be affected, says Kono at Japan FSA
BIS: Forex OTC markets hold steady, despite regulatory uncertainty
Semi-annual BIS survey reveals a rise in forex OTC derivatives transactions in the second half of last year
Plosser warns US regulations could cause unnecessary bail-outs
Philadelphia Fed president says existing efforts to end too-big-to-fail may ‘come up short' and advocates a more rules-based approach; criticises Basel III risk weights
Fed’s Tarullo says wholesale funding is the most important gap in regulation
Fed governor warns regulation does not yet adequately address vulnerabilities in the financial system, citing wholesale funding and ending too-big-to-fail as particular problems
Fed demands more detailed 'living wills'
Federal Reserve and FDIC request additional information on risks that could derail resolution plans for largest bank holding companies, including issues of international co-operation
EC to fight new US prudential rules for foreign banks, says EBF
EC "very concerned" about capital and liquidity proposals, says chief executive of the European Banking Federation
Haldane issues call to arms in fight against regulatory complexity
Bank of England executive director warns incremental approach to regulation papers over cracks and leads to a burdensome, ineffectual patchwork of rules
Fed tightens rules for retail forex banking
Federal Reserve publishes final rules for banks engaging in foreign exchange transactions with retail customers; includes requirements for risk disclosures, good conduct, capitalisation and margining
NY Fed paper says monitoring is essential to fix Dodd-Frank’s ‘significant limitations’
A growth in shadow banking is one risk from the Dodd-Frank Act that must be addressed by broad and forward-looking monitoring, a staff report says
Fed’s Tarullo outlines update to regulation of foreign banks
Rules for foreign banks operating in the US need to be strengthened, but should not be so harsh as to give domestic banks a competitive advantage, says Daniel Tarullo
Fed includes ‘doomsday scenario’ in next round of stress tests
Baseline, adverse and severely adverse scenarios specified in preparation for 2013 stress testing; 'severely adverse' would cover failure to resolve ‘fiscal cliff'
Fed’s Tarullo says Dodd-Frank requires ‘extensive elaboration’
Daniel Tarullo highlights challenges in producing details of Dodd-Frank Act regulations; suggests limits to mergers by large banks and says SEC should strengthen money market fund regulation
Fed publishes final rules on stress testing
Stress-test scenarios for bank-holding companies and non-bank financial institutions to be set by Fed; questions raised regarding suitability of tests for determining remedial action
BoE executive director slates complex regulation
Andrew Haldane criticises the length of legislation recently introduced in the US and Europe; appeals for a simpler approach to financial regulation
Fed considers delaying stress tests for large banks
Federal Reserve considering altering the implementation timeline for stress tests required under Dodd-Frank; follows concerns raised about immediate effect date of changes
Fed reveals final rules for fraud prevention adjustments
Rules released permitting debit card issuers to receive an adjustment for fraud prevention; maintains cap of one cent a transaction but simplifies requirements
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
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
Fed’s Tarullo calls Dodd-Frank reforms a 'formidable task'
Daniel Tarullo examines Dodd-Frank Act financial reforms; says implementation remains a “formidable task”
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
Dallas Fed chief calls for taxes on 'too-big-to-fail' financial institutions
Dallas Fed's Richard Fisher calls for more action on 'too-big-to-fail' entities; says new taxes should be introduced to encourage institutions to shrink balance sheets