Latest articles from Simon Turmaine

Newsletter January 2012: ECB’s cryptic judgment on capital requirements rule

FRANKFURT – A clue to where the European Central Bank (ECB) stands on one of the key rows provoked by the Capital Requirements Regulation comes in the Bank’s latest Financial Stability Review. The Capital Requirements Regulation and the associated Capital Requirements Directive (together CRD IV/CRR I) will transpose the Basel III capital and liquidity reforms in to EU law. The hotly debated question is how closely the proposed legislation does – or should – follow the standard crafted by international regulators on the Basel Committee.

Newsletter January 2012: EBA chief’s defence of‘maximum harmonisation’

BRUSSELS – A forceful defence of the single rulebook for the EU financial sector was made in early December by Andrea Enria, chairman of the year-old European Banking Authority (EBA), the pan-EU supervisory watchdog. But he worried that support for the single rule-book concept was already “faltering.”

Newsletter January 2012: Legal Entity Identifier plan needs private-sector advice

BASEL - Global regulators are calling for private-sector experts to join a panel advising regulators on the so-called Legal Entity Identifier (LEI) project backed by world leaders.

Email News Service January 2012: G20 Board puts insurers, domestic banks in 2012 sights; replacement for Hildebrand may not follow

BASEL, Switzerland, January 10 (Global Risk Regulator) - Global regulators said today they would complete work on a tougher supervisory framework for big insurers and systemically important domestic banks by the end of the year.

Email News Service December 2011: Regulators seek common capital disclosure requirements, UK sets boldest bank reforms.

BASEL, Switzerland, December 19 (Global Risk Regulator) – Global banking regulators today moved to counter the problems caused during the financial crisis by the difficulty of comparing banks’ capital positions by proposing a common set of requirements for disclosing the composition of bank regulatory capital.

Newsletter December 2011: New guidance on bank internal audit

BASEL – Global banking regulators are revising their guidance on assessing the effectiveness of bank internal audit operations to take account of recent developments and incorporate lessons from the global financial crisis.

Newsletter December 2011: Insurers welcome risk paper, warn on Solvency II

BRUSSELS – While welcoming the judgment of global regulators that insurance is of minimal systemic risk, Europe’s insurers continue to fear the impact of some of the key elements of the upcoming Solvency II regulatory regime.

Newsletter December 2011: "Unprecedented" drive for Basel III implementation

SAN FRANCISCO ¡V The Basel Committee has embarked on an ¡§aggressive programme¡¨ to help ensure that its rules are implemented as agreed and that they produce the intended results. Indeed, its approach ¡§represents a significant practical and cultural shift in the way international agreements are implemented,¡¨ Stefan Ingves, the Basel Committee chairman told a conference in mid-November.

Newsletter December 2011: IFRS 9 tweaking reignites fair value debate

MELBOURNE, Australia – The world’s top accounting standard-setter reignited debate over the politically sensitive and controversial issue of fair value accounting in November by announcing plans to tweak a key rule that’s already been adopted in several jurisdictions.

Newsletter December 2011: ISDA works with regulators despite US lawsuit

WASHINGTON – A leading derivatives industry trade association stressed its commitment to continuing to work constructively with global regulators as well as the American regulators it is suing over their controversial approval of position limits designed to dampen speculation in commodity markets.