Insurance

Kenya needs an FSA - Nyangito

Kenya's policymakers should begin thinking about the establishment of a single financial regulator along the lines of Britain's Financial Services Authority, said Hezron Nyangito, the deputy governor of the Central Bank of Kenya.

What to look for in Tarp II

Tim Geithner, the US Secretary of the Treasury, has delayed unveiling the plans for the next steps in administration's financial bailout programme until Tuesday. Here is a summary of the new steps that could be announced tomorrow.

FDIC may run US bad bank

The Federal Deposit Insurance Corporation (FDIC), a key American regulator, could manage a bad bank that the Obama administration is likely to soon set up, say reports.

BoA rescued as Congress grants $350bn for Tarp

Washington has granted Bank of America, the United States's third-largest lender, up to $138 billion in federal aid on signs that a batch of assets taken onto the lender's balance sheet following its buyout of failed investment bank Merrill Lynch could…

Indian governor on reducing global imbalances

If easy, quick and unconditional international liquidity was provided during a crisis, then emerging economies may not need to insure themselves by foreign reserves accumulation, said Duvvuri Subbarao, the governor of the Reserve Bank of India.

Islamic finance and insurance tie-up

The International Association of Insurance Supervisors (IAIS) and the Islamic Financial Services Board (IFSB) signed a working agreement aiming at establishing a sound regulatory and supervisory framework for the Islamic insurance industry.

FDIC surveys bank overdraft programmes

The Federal Deposit Insurance Corporation (FDIC) has gathered data on the types, characteristics, and use of overdraft programmes operated by the1,171 banks supervised by the deposit insurance regulator.

Wells Fargo bids for Wachovia

Wells Fargo, a US bank, looks set to snag Wachovia from Citigroup, the world's biggest lender, after offering $15.1 billion for the troubled bank. The move could see the Federal Deposit Insurance Corporation (FDIC), which manages the US's deposit…

Citigroup rescues teetering Wachovia

US regulators managed to avert another bank failure on Monday, persuading Citigroup, the world's biggest bank, to rescue Wachovia, another large US lender, which looked likely to collapse in the coming days.

Norges's Gjedrem: rethink deposit guarantee

Reducing commercial bank deposit guarantees per customer would bring the Norwegian system more into line with guarantee schemes in other countries, said Svein Gjedrem, the governor of the Norges Bank.

Singapore's Heng: people must plan ahead

Singapore's maturing population needs good retirement planning services to remain financially independent, said Heng Swee Keat, the managing director of the Monetary Authority of Singapore.

US regulators issue guidance on Basel II

The four US regulators responsible for the Basel II framework have published final guidelines on how banks adopting the advanced approaches can best carry out the supervisory review process.

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