Basel Committee liquidity work accelerates, but many conceptual hurdles. Bankers’ institute launches market practices initiative By Melvyn Westlake

WASHINGTON, October 22 (Global Risk Regulator) – Leading international banks are launching “a major initiative” to refine best practices in the wake of the recent financial market turmoil that will balance efforts by financial regulators in the same direction, a top international banker said over the weekend.

WASHINGTON, October 22 (Global Risk Regulator) – Policy advisors with the International Monetary Fund called over the weekend for financial regulators and international institutions to learn lessons from recent financial market turbulence and strengthen the foundations for sustained global growth.

BRUSSELS, October 8 (Global Risk Regulator) - European Union finance ministers will tomorrow forge a roadmap stretching well into 2008 for reviewing whether changes are needed to avoid a repeat of the market turmoil seen over the summer, Reuters news agency reports today.

WASHINGTON, October 16 (Global Risk Regulator) – The worst of the recent financial market turbulence may have subsided but the adjustment period will take some time and setbacks are possible, a top International Monetary Fund official warned today.

BASEL, Switzerland, October 9 (Global Risk Regulator) – Global banking regulators, concluding their routine two-day quarterly meeting in Basel today, emphasised the efforts they are already making that will help tackle the types of issues and risks arising from the recent financial market turbulence.

US regulators understand Europe’s concerns over reinsurance proposals, says top US insurance supervisor LONDON, October 18 (Global Risk Regulator) – State insurance regulators in the US certainly understand the concerns voiced by many of their colleagues in Europe about recent controversial proposals for reforming US reinsurance regulation, a top US insurance supervisor says.

LONDON – Europe’s banking regulators believe more work is needed by them in the medium term to achieve greater convergence in supervisory reporting, at least for cross-border active banking groups within the European Union.

LONDON – A UK initiative promoting improved voluntary disclosure by hedge funds could aid the global convergence of best practice standards for an industry that has been much criticised for its secretiveness and for activities that allegedly threaten financial stability.

LONDON – Europe’s banking regulators are aiming at further convergence in the treatment of unrealised gains in terms of banks’ regulatory capital after identifying some diversity of practice in the EU.