G-20 Numbers Ninnies Have No Place in This War Sep 23, 2009
It added that accounting standards should not be allowed to become a surrogate for robust bank risk management or effective bank supervision. . (Bloomberg -- Columnists)
Dodd Plan for Single U.S. Bank Regulator May Spark Fight with Frank, Obama Sep 21, 2009
Fed officials including Chairman and Governor , who is leading efforts to overhaul the Feds bank supervision, have testified that the central bank should retain its authority over U.S. banks. The administration recognizes many ideas will be offered and will work with the leadership in the House and Senate committees to get a bill done this year, White House spokeswoman said yesterday in a statement. (Bloomberg -- US)
Urgency for New Rules for Finance Is Slipping Away Sep 16, 2009
Among other things, the administration's plan would do away with one bank regulator, but leave multiple agencies in charge of bank supervision. It calls for collaboration between the Securities and Exchange Commission and the Commodity Futures Trading Commission, but stops short of combining the agencies even though their missions are increasingly similar. (ABC News -- Business)
Key Elements of the Obama Financial Overhaul Sep 16, 2009
Bank supervision would still be split among federal and state regulators. The Fed would gain power over big firms whose failures could traumatize the system. (ABC News -- Wire)
Central bankers back new regulations Sep 7, 2009
The framework for bank supervision follows a call by Group of 20 finance officials on Saturday to tackle bank capital requirements and make sure financial institutions insure themselves better against market upheavals and economic downturns. Central bankers said concrete proposals would be finalized by the end of the year. (Boston Globe)
Comptroller of the Currency Hosts Community Bank Directors Workshops in Dallas, Texas Sep 5, 2009
Attendees receive pre-course reading and course materials, an OCC telephone seminar CD, a community bank supervision handbook, other supervisory material, a continental breakfast, and lunch. Workshops are limited to the first 50 registrants. (PR Newswire)
Geithner Says It's Too Early to Begin Removing Economic-Stimulus Measures Sep 3, 2009
He said emerging market nations, many of which already have pretty conservative bank supervision in place, will play a bigger role than they have in the past. This is not something we can take a long time to do, he said. (Bloomberg -- US)
Tarullo, Obama's First Fed Board Pick, Leads Overhaul of Bank Supervision Sep 2, 2009
Treasury Secretary fought an earlier attempt to strengthen the role of the Feds Board of Governors in bank supervision. As firms from to became larger and more complex earlier this decade, former Fed Governor wanted to create centers of expertise and accountability for particular markets and potential dangers, such as derivatives trading and settlement. (Bloomberg)
Grameen shows poorest of poor can be creditworthy Aug 30, 2009
Vaez has had a long and distinguished career in the financial services industry in both the public and private sectors, and we are very pleased to have him join our Board, said Mr. Thomas S. Wu, Chairman, President and Chief Executive Officer of UCBH Holdings, Inc. He brings a unique perspective drawn from an extensive background in credit risk management and bank supervision, including over 23 years of public service at the Office of the Comptroller of the Currency (OCC) and senior... (Fresno Bee -- Business)
BMW-Riding Finance-Minister-in-Waiting Says Merkel Must Back Tax Overhaul Aug 27, 2009
He also condemned Merkels moves on bank supervision, saying here, nothing has happened. . (Bloomberg -- Germany)
Pragmatics wins contract to support bank regulator Aug 14, 2009
2 million task order to support administrative and bank supervision systems for the Office of the Comptroller of the Currency. The McLean, Va. (FCW.com)
Transcript of a Conference Call on the Completion of the Second Review of the Stand-By Arrangement for Pakistan Aug 12, 2009
Questioner: I see in the press release that the Board granted a waiver to legislative amendments to increase the effectiveness of bank supervision ... Now, on bank supervision, you are absolutely right ... The authorities had indicated that they would like to increase the powers of the Central Bank in the area of bank supervision, but they have been delayed in implementing this, and they are going to do this by September 1, hopefully. (IMF News)
Disarray Hobbles U.S. Financial Regulation Effort Aug 5, 2009
WASHINGTON (Reuters) - Disagreement within the Obama administration over reshaping U.S. financial regulation flared on Tuesday, with top bank regulators defending their turf against key parts of a plan to overhaul bank supervision ... He wants to leave state bank supervision to the Federal Deposit Insurance Corporation and the Federal Reserve, although some lawmakers are discussing changes in this area, as well. (ABC News -- Wire)
Plosser: Obama Risks Damaging Fed Jul 29, 2009
Plosser is one of 12 Federal Reserve regional bank presidents who have a voice in Fed decisions about interest rates and bank supervision. "You don't want an institution that is so heavy into other things that it fails to do its appropriate role on the monetary policy piece," Plosser told The Wall Street Journal. (Newsmax)
Banking reform in Britain: More to do Jul 25, 2009
The Osborne plan is to give bank supervision back to the Bank of England and to add oversight of insurance firms. (The Bank of England supervised banks until 1998, when the FSA, set up by a Labour government, took over. (The Economist)
FDIC moves 4 execs from Atlanta posts Jul 10, 2009
Mark Schmidt, the Atlanta regional director, has been appointed to a Washington post with the nation s deposit insurer to work for Chris Spoth, head of FDIC s U.S. bank supervision program on several high-level projects for the next six months, according to sources. Gale Simons-Poole, the deputy regional director, was appointed an acting regional director in Kansas City. (Tampa Bay Business Journal, FL)
Fed E-Mails May Chill Bank Regulation After Breach of `Ironclad' Secrecy Jul 1, 2009
Fed E-Mail Disclosure May Chill Confidential Bank Supervision - Bloomberg ... Fed E-Mail Disclosure May Chill Confidential Bank Supervision. (Bloomberg)
Press Release: IMF Completes Second Review Under Stand-By Arrangement with Hungary and Approves €1.4 Billion Disbursement Jun 24, 2009
The prompt implementation of the authorities revised program to preserve financial stability, including the careful monitoring of banks that receive government financial support and strengthening bank supervision, are important steps. It is recommended that the authorities explore institutional arrangements that would provide the financial supervisory agency with the necessary regulatory powers, and that remedial action and bank resolution frameworks be quickly strengthened. (IMF News)
Leaders back EU-wide bank supervision Jun 19, 2009
June 19, 2009 - 4:27PM. European Union leaders will back the creation of a cross-border system of bank supervisors on Friday aimed at better preparing the bloc to deal with any new credit crisis, a summit draft showed. (Sydney Morning Herald -- Business)
Obama urges biggest financial reforms since 1930s Jun 18, 2009
Obama also called for closing the Office of Thrift Supervision and ending the federal charter under which savings and loans operate as a way to streamline bank supervision. The government would be empowered, under the plan, to seize and unwind large, troubled companies that are not banks, modeling the process on the Federal Deposit Insurance Corp's existing power to unwind failing banks. (Yahoo News -- Press Releases)
Obama to Unveil Plans for Financial Rules Overhaul Jun 17, 2009
A senior administration official said on Tuesday that the Obama plan will call for closing the Office of Thrift Supervision, a Treasury Department unit, and eliminating the federal charter under which savings and loans operate, with the objective of streamlining bank supervision. In addition, the Federal Reserve would be assigned new duties to monitor risks that could threaten the entire financial system, working in conjunction with a council of other regulators to be chaired by Treasury. (ABC News -- Wire)
U.S. Financial Regulation Reforms Outlined Jun 16, 2009
The outline offered few new details on elements of the plan that were already known and sidestepped unanswered questions about streamlining bank supervision, restraining executive pay and regulating over-the-counter (OTC) derivatives. But it did clearly underline the administration's determination to give the Fed a central role, and to create a new way for the federal government to handle troubled firms whose failure could pose a risk to the economy. (ABC News -- Business)
Vietnam - Informal Mid-Year Consultative Group Meeting Jun 16, 2009
These pieces of legislation present an important opportunity to modernize monetary and fiscal management and upgrade bank supervision, all of which will be essential if Vietnam is to realize its goal of becoming a full-fledged emerging market economy in the next decade. 9. (IMF News)
Communists Can't Outspend Capitalists as China Contends With Jobless Rise May 12, 2009
Before the Group of 20 summit meetings in London in April, Chinese officials demanded that western nations strengthen bank supervision and shun protectionism. At the same time, China central bank Governor proposed a new reserve currency to replace the dollar. (Bloomberg -- Canada)
AIG Trustees Should Answer to U.S. Taxpayers, Not New York Fed, Towns Says May 12, 2009
Feldberg, 69, a former chairman of Barclays Americas, was an executive vice president in charge of the New York Feds Bank Supervision Group for nine years through 2000. Foshee, 49, was chief operating officer at oilfield- services provider Halliburton Co. before joining in 2003 as president and CEO.. (Bloomberg -- US)
Press Release: IMF Executive Board Approves 12.9 Billion Stand-By Arrangement for Romania May 5, 2009
An action plan is being implemented to maintain confidence in the banking system, including by preemptive bank recapitalization, agreements to maintain foreign banks exposure in the country, and efforts to strengthen bank supervision and resolution. This program, combined with significant external financial support, should ease short-term funding pressures and enhance medium-term economic prospects. (IMF News)
UK promises Auschwitz support Apr 29, 2009
Page last updated at 16:58 GMT, Tuesday, 28 April 2009 17:58 UK. Brown promises Auschwitz support. (BBC News -- Europe)
Transcript of the G24 Press Conference Apr 28, 2009
Bank supervision and financial institutions supervision were not adequate. And the same applies for those countries where these institutions did not [inaudible] to have adequate information for consumers and in many of these countries there were shortcomings in the stock markets in general. (IMF News)
WASHPOST: Before Crisis, Geithner Fell Short; He regulated banks...Investigative reporter Jeff Gerth RETURNS! Apr 3, 2009
William Rutledge, the New York Fed's executive vice president for bank supervision, said the reviews turned up several weaknesses. They found that banking companies were pretty good at measuring the risks to specific parts of their businesses but had little understanding of the dangers to the institution as a whole. (The Drudge Report)
Press Release: IMF Executive Board Approves US$229.2 Million Stand-By Arrangement for Mongolia Apr 2, 2009
Financial sector: To build confidence in the local banking system, the program includes measures to further strengthen the banking system by improving the current framework for deposit guarantees and enhancing bank supervision. Social protection: With one-third of the population living below the poverty line, improving the social safety net is a key element of the program to ensure that the poorest segment of the society are protected adequately. (IMF News)
IMF Announces Staff Level Agreement with Mongolia on US$224 Million Loan Mar 7, 2009
The government will further strengthen the banking system by improving the current framework for deposit guarantees and enhancing bank supervision. "The authorities strong commitment to macroeconomic stability and a return to robust and equitable growth justifies the proposed exceptional access to IMF resources (of 300 percent of quota) and merits the backing of the broader international community. To this end, I am encouraged that the government will be organizing a donors conference in... (IMF News)
Press Release: Statement of an IMF Mission at the Conclusion of the Staff Visit to Cambodia Mar 7, 2009
The mission welcomed the NBC s strong commitment to continue strengthening bank supervision while improving the regulatory regime, and agreed that firm enforcement of prudential regulations would help to safeguard Cambodia s banking system. IMF EXTERNAL RELATIONS DEPARTMENT. (IMF News)
Press Release: IMF Mission Conducts Lebanon's Article IV Discussions, Review under EPCA Program Mar 6, 2009
Continued vigilance in bank supervision backed by a strengthening of the legal framework. The recent steps to strengthen the bank resolution framework through the implementation of the Merger Law are welcome. (IMF News)
Press Release: Statement of an IMF Staff Mission at the Conclusion of the 2009 Article IV Discussions with Vanuatu Mar 5, 2009
"Progress is being made on structural reforms in some areas. A significant development in the past year has been the deregulation of the telecommunications sector, which has increased the usage of mobile phone services fivefold. While efforts are underway to improve road infrastructure and expand port facilities with assistance from donors, more needs to be done. Further reforms are needed to improve the efficiency of public enterprises and improve the budget framework to establish transparency... (IMF News)
New bank market crashes in Georgia Mar 1, 2009
In order to get approval, we need a high degree of confidence a bank will be able to carry out their business plan both generating a reasonable-cost deposit base and generating a sufficient quantity of good-quality loans, said Mark Schmidt, head of bank supervision at the FDIC s regional office in Atlanta. Both of those are more difficult to do in today s economic environment. (Atlanta Journal-Constitution -- Business)
Bigger role sought for ECB in ban... Feb 26, 2009
Bigger role sought for ECB in bank supervision - Times Online ... Bigger role sought for ECB in bank supervision. (New York Post -- Business)
UT forum draws Federal Reserve Bank CEO Feb 20, 2009
His responsibilities include the bank s monetary policy, bank supervision and regulation and payment services. Kuhn has been president of the since 1990. (Tampa Bay Business Journal, FL)
Flushing bank lending Feb 10, 2009
This requires the central bank to further improve the quality of its bank supervision so that it can serve as a credible arbiter of information on the soundness of banks. Post Your Comments. (Jakarta Post, Indonesia -- Editorial)
Public Information Notice: IMF Executive Board Concludes First Post-Program Monitoring Review with the Dominican Republic Feb 9, 2009
They welcomed the Financial Sector Assessment Program update scheduled for early 2009, which should help establish a reform agenda and advance risk-based consolidated bank supervision and regulation. Directors encouraged the authorities to remove the remaining weaknesses in the legal framework for the planned international financial free-trade zone before moving ahead. (IMF News)
