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Archive for May, 2012

Bank of England commissions a set of reviews

Court of the Bank of England commissions a set of reviews to learn lessons. May 2012. The Court of the Bank of England has commissioned a set of three reviews into areas of the Bank’s performance and current capabilities in order to learn lessons and to ensure the Bank is best equipped to carry out [...]

Why We Regulate

By PAUL KRUGMAN One of the characters in the classic 1939 film “Stagecoach” is a banker named Gatewood who lectures his captive audience on the evils of big government, especially bank regulation — “As if we bankers don’t know how to run our own banks!” he exclaims. As the film progresses, we learn that Gatewood [...]

European Finance Ministers Reach Compromise

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

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

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

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

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

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 [...]

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