The Financial Regulation Forum
Financial stability
Towards a new architecture for payment arrangements
Speech by Chris Salmon, Executive Director, Bank of England. In a speech delivered at the BAFT-IFSA Global Annual Meeting on 24 January 2012, Chris Salmon, Executive Director for Banking Services and Chief Cashier, describes how the financial crisis has influenced the perspective of financial stability policymakers towards payment operations. He argues that this will impact [...]
IMF Global Financial Stability Report Update
IMF Global Financial Stability Report GFSR Market Update. Since the last Global Financial Stability Report (GFSR), risks to stability have increased, despite various policy steps to contain the euro area debt crisis and banking problems. European policymakers have outlined significant policy measures to address the medium-term issues contributing to the crisis, and some of these [...]
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 [...]
Eurozone crisis: calendar of key events in January
As the euro approaches its 10th anniversary – fighting for survival – France will start the year with its first debt auction. • 5: France will kick off a mad dash to financial markets by eurozone governments: Italy alone needs to raise €450bn (£375bn) in the next twelve months. France’s first debt auction of the [...]
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 [...]
Fed proposes steps to strengthen regulation and supervision of large banks
The US Federal Reserve Board on Tuesday proposed steps to strengthen regulation and supervision of large bank holding companies and systemically important nonbank financial firms. The proposal, which includes a wide range of measures addressing issues such as capital, liquidity, credit exposure, stress testing, risk management, and early remediation requirements, is mandated by the Dodd-Frank [...]
BoE Instruments of Macroprudential Policy
Bank of England, Instruments of Macroprudential Policy – Discussion Paper. In a discussion paper published, Bank of England and Financial Services Authority staff provide a detailed analysis of a range of macroprudential tools that the Financial Policy Committee (FPC) discussed at its September meeting. The Committee is seeking feedback on this analysis. The proposed powers [...]
ECB Financial stability review
European Central Bank (ECB) Financial stability review – December 2011. Risks to euro area financial stability increased considerably in the second half of 2011, as the sovereign risk crisis and its interplay with the banking sector worsened in an environment of weakening macroeconomic growth prospects. Indeed, several key risks identified in the June 2011 Financial [...]
Reform of the International Monetary and Financial System
Bank of England Paper: Reform of the International Monetary and Financial System. By Oliver Bush, Katie Farrant and Michelle Wright The financial crisis has imposed large costs on the global economy and revealed deficiencies in policy frameworks around the world. While the ongoing reforms to financial regulation aim to make the financial system more resilient, [...]
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