Financial stability
BIS warns of "enormous risks to recovery"
In its annual report, released June 29, the Bank for International Settlements (BIS) warned worldwide rescue efforts for the financial industry might be inadequate.
Basel changes could "kill off correlation trading”
Proposed changes to the Basel II Accord’s trading book regime, due in early July, will make correlation trading uneconomical unless a compromise can be found, say dealers.
Obama reform plans show no progress on OTC derivatives clearing
The Obama administration's much-hyped regulatory reform proposals disappointed over-the-counter derivatives dealers and end users yesterday by again failing to provide new details on how OTC markets with mandatory central clearing would operate.
Strength from swaps
Asian nations are becoming increasingly assertive in co-ordinating financial stability efforts in the Asia Pacific, notably via a raft of new swap agreements between the region's largest economies. Are these efforts having the desired impact? Christopher…
Remuneration revisited
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EC issues remuneration principles for risk takers
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FSF: Valuation techniques and leverage aggravate pro-cyclicality
Regulators should address the pro-cyclical effects of market-sensitive valuation practices and increasing leverage, according to the Financial Stability Forum (FSF).
G-20 working groups release final reports
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G-20 creates Financial Stability Board from FSF; frees up $1.1 trillion for IMF
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G20 fires starting gun on global systemic risk regime
A declaration by the Group of 20 leading economies (G20) fleshed out plans for a global regime of systemic risk regulation, “covering regulated banks, shadow banks and private pools of capital to limit the build-up of systemic risk”.
SEC official hopes G-20 will establish “broad parameters” for regulation
Ethiopis Tafara, director of the Office of International Affairs at the US Securities and Exchange Commission (SEC), expects the Group of 20 to establish a broad framework for regulation of financial markets over the next two days.
G-20 ministers agree expansion of international financial organisations
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G20 calls for stronger IMF
A strengthened and expanded International Monetary Fund (IMF) is at the heart of the plan to soften the recession and repair the global financial system announced by G20 members over the weekend.
New members will boost surveillance, FSF says
Thirteen new members will improve the Financial Stability Forum's (FSF) ability to identify emerging systemic risks, the forum's secretary-general Svein Andresen said yesterday.
Swap shop
The International Swaps and Derivatives Association, under its chief executive Bob Pickel (right), is the trade body for dealers of, amongst other things, credit derivatives. As such, Pickel and his members are at the centre of a storm raging around the…
Dead in the water?
Basel II
Breaking the cycle
Basel II
Swap stabilisers
Editor's letter
EU leaders agree outline of global financial regulation
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A capital offence
In believing that healthy capital reserves would enable banks to weather the credit crisis, lawmakers and banking chiefs neglected one important fact, says Suresh Sankaran of Fiserv IPS-Sendero: that robust capital adequacy ratios do very little to keep…
US regulatory overhaul inches closer
Editor's blog
Stress tests were ignored in lead-up to crisis, Basel risk head says
Banks around the world ignored and marginalised the severe stress tests that could have prepared them for the crisis, according to Klaas Knot, the head of the Basel Committee's risk monitoring and management group.
Calls grow for scrapping of Basel II accord
Industry figures argue that the capital adequacy regime is not relevant in today's economic climate, and that regulators have already abandoned certain aspects of the accord on the quiet