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Archive for 2012

European Finance Ministers Reach Compromise

By Editor ⋅ 15 May, 2012 ⋅ Post a comment

With a $2 billion loss by JPMorgan Chase in London serving as a reminder that risky trading has not gone away, European Union finance ministers broke an impasse Tuesday and agreed on a plan to force banks to hold more capital as a buffer against the unexpected. The unanimous move came after a compromise that [...]

EU Fundamental Review of Financial Conglomerates Directive

By Editor ⋅ 15 May, 2012 ⋅ Post a comment

14 May 2012 Joint Consultation Paper on the proposed response to the European Commission’s Call for Advice on the Fundamental Review of Financial Conglomerates Directive. The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA) is launching today a three-month public consultation on the proposed response to the call for technical advice from [...]

Managing financial crises: the role of the ECB

By Editor ⋅ 10 May, 2012 ⋅ Post a comment

Speech by Peter Praet, Member of the Executive Board of the ECB: Managing financial crises: the role of the ECB. 40th Economics Conference of the Oesterreichische Nationalbank, Vienna, May 2012. Ladies and Gentlemen, It is a real pleasure for me to share my thoughts on the role of the European Central Bank (ECB) in managing [...]

Resolution: a progress report

By Editor ⋅ 4 May, 2012 ⋅ Post a comment

Resolution: a progress report – speech by Paul Tucker, Bank of England. Speaking at the Institute for Law and Finance Conference in Frankfurt on 3 May 2012, Paul Tucker – the Bank’s Deputy Governor for Financial Stability and Chairman of the Financial Stability Board’s Resolution Steering Group – provided a progress report on global planning [...]

UK bank regulation, resolution and restructuring

By Editor ⋅ 3 May, 2012 ⋅ Post a comment

Speech given by Mervyn King, Governor of the Bank of England. The 2012 BBC Today Programme Lecture, London, May 2012. The following is an extract from the speech: … So tonight I want to try to answer three questions. First, what went wrong? Second, what are the lessons? Third, what needs to change? Let me [...]

EU set for clash on banking rules

By Editor ⋅ 2 May, 2012 ⋅ Post a comment

European Union set for clash on banking rules. Deep divisions over European banking rules will be exposed on Wednesday as finance ministers clash on how best to tighten regulation and protect taxpayers without stifling lending or damaging competition. Translating the “Basel III” international rules on bank capital into law has emerged as the most highly [...]

Banks: Telling Strength From Weakness

By Editor ⋅ 29 April, 2012 ⋅ Post a comment

Are the perils posed by too-big-to-fail banks a thing of the past? That’s what we keep hearing from Washington. Politicians who wrote the Dodd-Frank law insist that it eliminates the dangers posed by large, politically connected financial institutions. At a news conference last week, Ben S. Bernanke, the chairman of the Federal Reserve, said that [...]

Global Financial Stability Report

By Editor ⋅ 24 April, 2012 ⋅ Post a comment

International Monetary Fund. Full 2012 Global Financial Stability Report: The Quest for Lasting Stability. April 2012. The April 2012 Global Financial Stability Report assesses changes in risks to financial stability over the past six months, focusing on sovereign vulnerabilities, risks stemming from private sector deleveraging, and assessing the continued resilience of emerging markets. The report [...]

Implementation of stress testing practices by supervisors

By Editor ⋅ 17 April, 2012 ⋅ Post a comment

13 April 2012. The Basel Committee on Banking Supervision has published a peer review of the implementation by national supervisory authorities of the Basel Committee’s principles for sound stress testing practices and supervision. Stress testing is an important tool used by banks to identify the potential for unexpected adverse outcomes across a range of risks [...]

Enhancing the contribution of external audit to financial stability

By Editor ⋅ 16 April, 2012 ⋅ Post a comment

At its Plenary meeting on 10 January, the Financial Stability Board (FSB) Plenary underscored the importance of work to improve the role that external audits play in providing information to prudential supervisors and regulators of financial institutions, and to reinforce the effectiveness of the regulation of external audits, particularly those of financial institutions. The recent [...]

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