Insurance
US lists advanced Basel II qualification rules
The four US regulatory agencies responsible for Basel II have detailed how firms may qualify to use the advanced approaches of the framework.
US regulator approves Basel II for smaller banks
The Federal Deposit Insurance Corporation (FDIC), one of the US's regulatory agencies, on Wednesday approved a version of the Basel II framework designed for the country's smaller banks.
Swiss Re's Raaflaub to head new regulator
Patrick Raaflaub, the head of group capital management at Swiss Re, a reinsurance company, will direct Switzerland's new super regulator the Financial Market Supervisory Authority (FINMA).
FDIC's Bair calls for mortgage transparency
Sheila Bair, the chairman of the Federal Deposit Insurance Corporation, the body responsible for deposit insurance in the US, has called for a return to common sense and back-to-basics lending standards.
Caribbean budgets need disaster insurance
The natural-disaster-prone economies of the Caribbean need insurance to reduce the vulnerability of their public finances and improve debt sustainability, a new IMF working paper says.
Bernanke admits concern over monolines
The threat of a downgrade to some of the biggest monoline insurers impacting the banking industry is forcing the Federal Reserve to monitor developments closely, a letter from Ben Bernanke, the chairman of the Federal Reserve, reveals.
UK chancellor outlines regulatory changes
In a bid to prevent another Northern Rock, Alistair Darling, Britain's chancellor of the exchequer, has pledged to make the government ultimately responsible for actions to counter banking crises.
RBNZ set to regulate insurance industry
The Reserve Bank of New Zealand on Monday became responsible for regulating all life, health and general insurance providers.
China plans deposit insurance
The People's Bank of China is looking into the establishment of a deposit insurance scheme to protect depositors should a bank collapse.
Developments in Asian insurance markets
This this speech, Low Kwok Mun, the executive director for insurance regulation at the Monetary Authority of Singapore, considers what Asian countries can do to ensure that they attract the required talent in the insurance industry.
Norway's investments struck by rising krone
Norges Bank today published its second quarter results for its investment management division, showing negative returns in both equity and fixed income markets.
G30 calls for more regulation of reinsurers
Coordinated international regulation of the reinsurance industry is needed despite the fact that the industry poses few risks to the financial system. This was the message of a report by the Group of 30 (G30) launched on Monday 23 January at the Bank of…
Dirk Witteveen to chair Joint Forum
The Joint Forum's parent organisations announced on Wednesday 21 December the appointment of Dirk Witteveen as chair of the Joint Forum for a two-year term beginning January 2006.
New joint website De Nederlandsche Bank & PVK
A new joint website of De Nederlandsche Bank (DNB) and the Pensions and Insurance Supervisory Authority for the Netherlands (PVK) has been created. Both organisations expect to be merged under the name of De Nederlandsche Bank.
RBI governor to lead market surveillance panel
The Reserve Bank of India has formed a high power committee headed by the governor for integrated market surveillance and alert systems. The committee is to strengthen market supervision and monitoring.
EU to base regulators in London and Frankfurt
European Union finance ministers agreed on Tuesday 20 January to base two new financial regulatory committees in London and Frankfurt.
Riksbank's Srejber on financial delegation
Eva Srejber of the Sveriges Riksbank said on 2 November that there is evidently a need to review the institutional framework regarding the mutual life insurance companies. It is not sufficient to have a general requirement for them to reorganise…
IAIS launch improved website
The International Association of Insurance Supervisors (IAIS) has launched its new improved website at www.iaisweb.org. The website includes an extensively improved navigation and information layout, an elegant new design, information on forthcoming…
IAIS expands core principles for insurance
The International Association of Insurance Supervisors (IAIS) has revised and expanded its Insurance Core Principles and Methodology, offering new guidance for the effective operation of supervisory systems around the world. The 28 principles cover all…
HKMA and Insurance Authority sign MoU
The Hong Kong Monetary Authority and the Insurance Authority (IA) have signed a Memorandum of Understanding(MoU) which aims to enhance the co-operation, exchange of information and mutual assistance between the two authorities.
Large on convergence in insurance and banking
In a speech on 'Convergence in Insurance and Banking: Some Financial Stability Issues' Andrew Large of the Bank of England said the data deficiencies we confront today where the actual location of risk is so opaque is a major challenge. Better…
Greenspan testimony on deposit insurance
SPEECH - In testimony titled 'Deposit insurance' Alan Greenspan of the Federal Reserve reiterated the central bank's opposition to raising the $100,000 limit on deposit insurance coverage, saying there would be no "clear public benefit" to the move.
Minutes show Fed worried over deflation
The Federal Reserve cut interest rates last month as extra insurance against deflation and the chance that the economy's stumble this summer could become something worse, according to Fed meeting minutes released on Thursday.
San Francisco Fed chief expects recovery next year
US - Following the Federal Reserve's half point interest rate cut last week Robert Parry said in a speech on Wednesday that the Fed thought it was wise to "take out a little insurance" to keep the expansion going.