Banking
European Commission floats concept of investment bans in latest Mifid consultation
The European Commission has produced a consultation paper that suggests a basis for banning certain investments, with structured products making their usual appearance in the limelight
Britain raises bank levy
UK government publishes final bank tax law that will raise the levy on liabilities higher than initial proposals set out in June
CentralBanking.com panel: how pressing is the need for bank resolution regimes?
Commentators disagree on how urgently resolution regimes must be established; point to obstacles in crafting cross-border rules
CoCos offer banks more hope than bail-in: CentralBanking.com panel
Contingent capital’s earlier trigger will set in before banks are on the brink of resolution, say panellists; reject narrow banking thesis
Market for CoCos could take years to develop, say Credit Institute panellists
Regulators may be sold on banks issuing loss-absorbing contingent convertible securities, but panellists at Credit Institute event question whether natural investor base for instruments exists
Anglo restructuring deal to be sealed in January: Ireland’s Honohan
Central Bank of Ireland governor Patrick Honohan says Anglo restructuring proposal will be approved by end-January; Irish banks face capital, liquidity assessments
Israel names Hizkiyahu successor
David Zaken named supervisor of banks; Zaken to replace Rony Hizkiyahu at the end of the year
British bankers lobby Banking Commission
British Bankers’ Association chief executive Angela Knight warns against breaking up the banks; argues Basel III does not need to be buffered by national measures
Transition for 2012 will prove tricky, FSA officials acknowledge
Hector Sants says project will be complete by year after next, but acknowledges strain on those involved; Turner echoes comments
HKMA measures cost of regulatory reform
Hong Kong Monetary Authority finds positive effect from Basel III
Fed’s Tarullo defends US record on Basel II
Federal Reserve governor Daniel Tarullo dismisses criticism over US implementation of minimum capital requirements under Basel II; says Basel III will only be effective if applied rigorously by all countries
Bankers hit out at Basel III trade finance rules
Bank chief executives say tough rules on trade finance will suffocate global trade, putting growth at risk
Basel III will choke SMEs, say leading bankers
Sands, Ackermann emphasise need for policy that supports small and medium enterprises; reiterate calls for a level playing field under Basel III
FSB opens up to non-members with outreach proposal
Financial Stability Board to set up regional consultative groups to give non-members a presence in regulatory debate; move goes only half the way to correcting imbalance, DIFC chief economist says
Bank Negara’s Zeti: international links key to Islamic finance
Bank Negara Malaysia governor Zeti Akhtar Aziz says growth in Islamic finance down to international cooperation
Luxembourg’s Mersch condemns Basel III bias
Central Bank of Luxembourg governor Yves Mersch says Basel III will be more detrimental to European banks than US lenders; echoes bankers’ concerns on lending to small and medium enterprises
Sigtarp criticises Treasury's bailout accounting
AIG investment cut from $45 billion loss to $5 billion loss following accounting change, report claims
Central banks, markets must cut ratings reliance: FSB
Financial Stability Board publishes principles to roll back the influence of credit ratings agencies
Homogeneous regulations could contribute to risk, says former Brazil central bank chief
Arminio Fraga warns about the use of globally standardised methodologies for regulatory capital, as well as the dangers of multiple central counterparties
Basel III could have softened crisis: BIS's Caruana
Bank for International Settlements general manager Jaime Caruana says crisis could have been very different had Basel III framework been in place
Cebs says work on supervisory colleges is accelerating
Cebs secretary-general Arnoud Vossen, in an interview with Operational Risk & Regulation, says work on improving supervisory colleges is speeding up
Mervyn King leans towards radical reform
Insured deposit banks are the way forward, writes Robert Pringle
Esma could undermine City of London: LSE's Rolet
London Stock Exchange chief executive Xavier Rolet tells influential parliamentary committee new European Securities and Markets Authority could risk handing control of UK regulation to Europe
Britain unveils sweeping, cross-border bank levy
UK government publishes draft bank tax law which will affect domestic banks operating overseas and foreign bank operations in Britain; proposal highlights international disunity