Capital levels and resolution, and recovery plans for central counterparty clearing houses (CCPs) should be the main regulatory priorities for policymakers, according to a snap poll of delegates taken at a leading derivatives conference. By Justin Pugsley.
Regions
G7 calls for stronger co-operation against cyber-crime
G7 calls for more co-operation in fight against money laundering, terror financing and cyber-crime, and talks up fairer taxation policies.
ICAEW: investors rely too much on regulatory ratios
The Institute of Chartered Accountants in England and Wales called for tougher auditing of banks as it believes investors put too much faith in regulatory ratios.
IMF calls on New Zealand to strengthen supervision
New Zealand’s banking system is basically in good shape, but the IMF nonetheless warns over vulnerabilities and calls for a strengthening of the country’s macro-prudential framework.
PBoC examines fintechs’ effect on financial system
China’s central bank has launched a study into the impact of the booming fintech sector on areas ranging from monetary policy through to financial stability. Justin Pugsley reports
JPMorgan warns clearing houses not well enough capitalised
Central counterparty clearing houses are not carrying enough capital and should be subject to tougher rules, says a JPMorgan white paper. Justin Pugsley reports
Mnuchin orders regulators to examine Volcker rule
US Treasury secretary Steven Mnuchin orders regulatory agencies to investigate a softening of the Volcker rule.
Academics warn over unwinding resolution mechanisms
US professors warn that unwinding resolution mechanisms designed to deal with failing banks quickly will not limit too-big-to-fail or prevent excessive risk taking. Justin Pugsley reports
European Council approves EU prospectus rules
EU prospectus rules gain European Council approval in boost to European Capital Markets Union.
Financial transaction tax could help plug EU budget holes
An EU-wide transaction tax could alleviate member state contributions to the union’s budget.
