International regulatory framework for banks (Basel III). What is Basel III? Around the world, central bankers, regulators and governments have responded to the financial crisis with new regulation and legislation. The cornerstone of this global initiative to contain risk is Basel III – sweeping new regulatory standards for banks on capital adequacy and liquidity. Basel [...]
The new UK Twin Peaks Regulatory Framework. Since his 2010 Mansion House speech, where Chancellor George Osborne set out his agenda for reforming the current system of financial regulation*, the situation has progressed. The current system – which shares responsibility for financial stability between the Treasury, the Bank of England and the Financial Services Authority [...]
Principles for the oversight of payment systems Central banks’ involvement in the oversight of payment systems arises from their core role as the systems’ settlement bank, providing the ultimate settlement asset, central bank money. This gives central banks a very direct interest in any potential systemic risks inherent in such systems. More broadly, payment systems [...]
A summary of the panel discussion held on 7 September is provided below. Charles Goodhart, Sir John Gieve and Paul Mortimer-Lee say regulation is best housed within the central bank but warn challenges remain The trend for central banks to be handed additional power to regulate financial firms should be welcomed, but with caution, a [...]
A central bank, reserve bank, or monetary authority is a country’s primary monetary authority. Central banks usually have responsibility for issuing currency, administering monetary policy, holding member banks’ deposits, facilitating the nation’s banking industry, and acting as a lender of last resort to the banking sector during times of financial crisis (private banks often being [...]
November 2009. The economic crisis has prompted governments across the world to re-evaluate their financial regulatory framework, to try to tackle the causes of, and fallout from, the global downturn. The next 12 months could bring the most dramatic change in financial services regulation in decades. This interactive graphic provides an overview of the financial [...]