The Financial Regulation Forum
Financial regulation
Does macropru leak?
Does macropru leak? Evidence from a UK policy experiment. Working Paper No 445 by Shekhar Aiyar, Charles W Calomiris and Tomasz Wieladek. The regulation of bank capital to improve the resilience of the financial system and, related to this aim, as a means of smoothing the credit cycle are central elements of forthcoming macroprudential regimes [...]
France plans Tobin tax on financial transactions
French president Nicolas Sarkozy has announced plans to impose a tax on financial transactions, he said he hoped his move would push other countries into taking action. French president Nicolas Sarkozy says measures he has taken have helped stabilise the economic crisis in France (Link to this video) The French president said a new 0.1% [...]
Cameron criticises European financial tax
David Cameron, UK prime minister, reopened tensions on Thursday with Paris and Berlin, after he said the economic design of the eurozone was seriously flawed and described as “madness” plans for a European tax on financial transactions. The prime minister also made pointed – if indirect – criticisms of Germany, insisting some countries must allow [...]
Accountability of the Bank of England
Response from the Court of the Bank of England to the recommendations made by the Treasury Committee and Joint Committee on the draft financial services bill on the accountability of the Bank of England. On 8 November 2011, the Treasury Select Committee of the House of Commons published a Report on the “Accountability of the [...]
Keep financial regulation simple
By Joe Nocera. What if, Jamie Dimon, the chief executive of JPMorgan Chase is not just blowing smoke when he complains that the country — and, indeed, the world — has imposed so many new rules on the banking industry, some of them overlapping, others seeming to contradict each other, yet others whose sole purpose [...]
Basel III liquidity standard and oversight
Basel III liquidity standard and strategy for assessing implementation of standards endorsed by Group of Governors and Heads of Supervision. The Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 8 January 2012. The main items of discussion were the Basel Committee’s proposals on [...]
Britain’s financial industry: Death by a thousand cuts
The City is one of Britain’s great export industries. Yet its continued success is far from certain. From high up in their towers some 90,000 bankers look down on the Thames as it meanders past what was, in living memory, the world’s busiest port. Six decades ago these shores saw a daily tide of vessels [...]
Why the City of London is European
Why the City of London is European: David Cameron must persuade the French and other EU members that London’s financial centre is their asset too. Next month’s Franco-British collôque will provide much-needed group therapy for a relationship in crisis. The easy part will be where UK delegates reiterate their commitment to an open and competitive [...]
ESRB: Introductory statement to the press
European Systemic Risk Board (ESRB): Introductory statement to the press conference. Mervyn King, Vice Chair of the ESRB and Andrea Enria, Vice Chair of the ESRB, Frankfurt am Main,22 December 2011. The General Board of the European Systemic Risk Board (ESRB)* held its fourth regular meeting today. The current situation. In September, the ESRB characterised [...]
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