Financial Regulatory Forum

Regulatory forbearance looms as next big supervisory risk for financial giants

By Guest Contributor
September 9, 2011

By Susannah Hammond

LONDON/NEW YORK, Sept. 9 (Thomson Reuters Accelus) – Regulatory forbearance is not a concept that has hit many headlines. It is, however, emerging as an underlying theme in publications by a range of bodies, from the International Monetary Fund (IMF) to the European Union and beyond. Regulatory forbearance is not about supervisory incompetence but, rather, the potential for a fully briefed regulator to decide not to intervene. There may be many legitimate occasions when non-intervention is the right call but, when judged with the benefit of hindsight, more supervisory interventions, made sooner, could have ameliorated some of the worst of the issues arising out of the financial crisis.

Impact analysis: UK outline of new approach to financial regulation

By Guest Contributor
February 24, 2011

By Susannah Hammond

LONDON, Feb. 24 (Complinet) -The British Treasury’s latest proposal for reshaping financial regulation, published last week, has given more detail to the plans set out in an outline last summer. The fundamental shape of the new bodies now looks to have been finalized, but many fine points on how the new approach will actually function in practical, operational and cultural terms are still under consideration.

FACTBOX-UK fleshes out financial supervisory shake up

By Reuters Staff
July 26, 2010

July 26 (Reuters) – Britain detailed on Monday how its new financial supervisory regime will work from 2012 in a move that scraps the Financial Services Authority and turns the Bank of England into one of the most powerful central banks in the world.

ANALYSIS-UK bank changes will be outweighed by EU

May 12, 2010

By Huw Jones

LONDON, May 12 (Reuters) – The new British government will make the Bank of England responsible for spotting asset bubbles as part of global efforts to learn from the financial crisis but the new set-up will still be overshadowed by EU centralisation.

ANALYSIS-Central banks’ police job may cloud monetary tasks

April 26, 2010

  By Krista Hughes and Mark Felsenthal
   FRANKFURT/WASHINGTON, April 26 (Reuters) – Major central banks are taking on a new role of finance police in the wake of the global financial crisis but they could find their hands more tied as a result. (more…)

Bank of England’s King says UK, US closer than EU on regulation

By Reuters Staff
February 12, 2010
It's closer across the Atlantic

It's closer across the Atlantic

 (Updates with more quotes, details from report)

LONDON, Feb 12 (Reuters) – Britain and the United States are more convinced of the need to force banks to hold more capital than some big European nations, Bank of England Governor Mervyn King told the Council for Financial Stability last month.

BoE’s King says far too soon to say easing program is finished

By Reuters Staff
February 10, 2010
Options open

Options open

By Sumeet Desai and Matt Falloon

LONDON, Feb 10 (Reuters) – The Bank of England may have to pump more money into Britain’s fragile economy, Governor Mervyn King said on Wednesday after the central bank forecast inflation would stand well below target in two years.

Bank of England halts quantitative easing, leaves door open for more

By Reuters Staff
February 4, 2010

LONDON, Feb 4 (Reuters) – The Bank of England announced on Thursday no increase to its unprecedented 200 billion pound asset-buying programme, but left the door open to more so-called quantitative easing if economic conditions deteriorated.

BoE’s King calls for radical reform of banks

By Reuters Staff
January 26, 2010

By Tim Castle

LONDON, Jan 26 (Reuters) – Radical reform is needed to make the banking system safer, Britain’s top central banker said on Tuesday, adding U.S. President Barack Obama’s plan to curb some activities would not fully solve the “too big to fail” problem.

Bank of England, U.S. FDIC to work closely on banks in distress

By Reuters Staff
January 22, 2010

LONDON, Jan 22 (Reuters) – The Bank of England said on Friday it had signed an agreement with the U.S. Federal Deposit Insurance Corporation to work more closely when resolving distressed banks with operations in the U.S. and the UK.