Basel III
Federal Reserve adopts Basel III for US banks
Fed Board unanimously votes to introduce new capital requirements as of January 1; Daniel Tarullo says additional measures will follow including proposals for a higher leverage ratio
Basel leverage ratio would double up collateralised OTC positions
Ratio could be a 'game-changer', dealers warn, as Basel Committee proposes counting received collateral as well as derivatives exposures
Basel Committee reveals leverage ratio formula
Proposals detail leverage ratio calculation framework and disclosure requirements that will enter force in 2015; committee keeps options open for a higher leverage ratio than originally planned
Switzerland passes Basel III implementation test
Assessment finds country ‘compliant’ overall with Basel III capital framework, although a number of regulations had to be tweaked to make the grade
Belgian supervisor warns against Basel III over-simplification
National Bank of Belgium’s Rudi Bonte calls for the Basel Committee to take a ‘moderate’ stance on the trade-off between simplicity and complexity in its risk and capital rules
Fed's Plosser calls for a move to simple, but higher, capital requirements
Philadelphia Fed president says there is no better example of over-complex rule writing than risk-weighted capital calculations - and calls for a shift to simpler rules which are harder to evade
Basel securitisation reform creates 'perverse incentives’, says senior Japanese banker
Inconsistent rules are damaging financial intermediation, according to Takashi Oyama of Norinchukin Bank
Fed’s Raskin warns of shortcomings in leverage ratio
Sarah Bloom Raskin says a leverage ratio can guard against the failings of risk-weighted capital requirements, but cautions that the ratio has issues of its own
Fed’s Yellen moots higher capital requirements for US banks
Janet Yellen says Basel III capital requirements may not be enough to end the too-big-to-fail problem; sizes up risk in the shadow-banking sector
IMF ‘policy book' tackles Mena central bank challenges
IMF's monetary and capital markets department analyses operational frameworks of Mena central banks, and obstacles to monetary policy; urges Basel III adoption
Banks push alternative to Basel Committee securitisation model
Basel proposals would kill European market, banks warn – and some regulators sympathise
FDIC’s Thomas Hoenig on bank separation, safety nets and Basel III
Hoenig tells Christopher Jeffery that Basel III is flawed, universal banks require legal separation, financial safety nets need cutting and monetary policy should move to non-zero interest rates
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
FDIC’s Hoenig blasts Basel III risk weights as insufficient
Thomas Hoenig argues that Basel III can be ‘gamed' and that the capital ratios may over-represent the actual state of banks’ balance sheets
Bank of Japan raises ‘major concerns' over US foreign bank rules
Letter to Fed governor challenges proposed regulation of foreign banks on the basis of inconsistency with international standards and restrictive liquidity rules; Germans also weigh in
Banks to blame for regulatory fragmentation, says Basel Committee’s Coen
Bank lobbying has encouraged national supervisors to water down global standards, says deputy secretary-general of Basel Committee
Fed’s Stein backs ‘committed liquidity facility’ as supplement to Basel LCR
Federal Reserve governor says facility approved for use in Australia could be a good way of maintaining liquidity during crisis and imposing a ‘pollution tax’ on illiquid banks
BIS committee hails Basel III progress
In report to G-20, the Basel committee says member countries are making ‘considerable progress’ implementing Basel III, despite long delays; laments ‘excessive’ variation in RWAs
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
FDIC vice-chair says Basel III capital requirements provide illusion of safety
Thomas Hoenig says capital ratios allow banks to leverage up while outwardly appearing safe; warns systemically important banks have much worse leverage ratios than smaller institutions
Asia corporates unfairly ‘penalised’ by CVA capital charge
The move by European authorities to exempt European banks from holding CVA capital should be matched by regulators in Asia, according to senior bankers in the region
Kazakh banks should go beyond Basel III, says central bank
Financial stability report calls for banks to boost capital levels above Basel III requirements; encourages largest banks to clean up balance sheets and lend more
Basel III insufficient for ‘huge’ Swedish banking system, says Ingves
Sveriges Riksbank governor says Sweden must go ‘over and above’ capital and liquidity standards in Basel III; identifies household debt and bank market-funding as core weaknesses
BIS finds Singapore compliant with Basel III
Consistency assessment finds Singapore compliant in 12 areas and ‘largely compliant’ in remaining two; report notes 46 deviations were initially identified, but many were addressed during the review