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Moving towards a new Moving towards a new regulatory environment regulatory environment
Firing up to burn clean...Firing up to burn clean...
Traders at the New York Stock Traders at the New York Stock Exchange worry as stocks fallExchange worry as stocks fall
• BBC Global banking scandals: Who is under scrutiny? A number of scandals
have engulfed the global financial
system, and international banks are under investigation by regulators in several countries. They are alleged to
have committed offences
ranging from fixing
interbank lending rates to money laundering
failing to stop their
banks being used for. In this guide, we explain who is accused
of what by whom.
• BBC News
AP Business Headlines Chicago bank shuttered, makes 3rd failure of 2013
WASHINGTON — Regulators say they have closed a small bank in Chicago, bringing to three the number of U.S. bank
failures this year following 51 closures in 2012. .
Where'd the Bailout Money Go? Shhhh, It's a Secret December 22, 2008
It's something any bank would demand to know before handing out a
loan:
Where's the money going?
But after receiving billions in aid from U.S. taxpayers, the nation's largest
banks say they either can't track exactly how they're spending the money
or they simply refuse to discuss it.
"We've lent some of it. We've not lent some of it...”
I can recall a time long before an exasperated Sir Mervyn
King, the
governor of the Bank of England, declared: "Of all the many ways
of organising banking, the worst is the one we have today."
I'm old enough to remember how British
banking used to be.
Relentless targeting
• With the new systems in place, top bankers started producing
financial
products, and imposing tough targets on branch
staff for selling them.
• "The targeting was harsh, severe, relentless," he said.
• "Your job was on the line if you didn't sell enough x. Cashiers, assistant managers, financial advisers, even the manager ‐
everybody
would have
a personal and a group target towards selling x."
BBC News BusinessEurozone
recession deepened at end of 2012
14 February 2013
• The Eurozone
recession deepened in the final three months
of 2012, official figures show.• The economy of the 17 nations in the euro shrank by 0.6% in
the
fourth quarter, which was worse than forecast.
• It is the sharpest contraction since the beginning of 2009
and
marks the first time the region failed to grow in any
quarter during
a calendar year.
More and more liquidity...
The proposals are part of a global overhaul of rules governing derivatives contracts, mandating the use of
central counterparties by derivatives traders. Regulators have sought tougher rules for over‐the‐counter derivatives
since the collapse in 2008 of Lehman Brothers Holdings Inc. and the rescue of American International Group Inc. (AIG),
two of the largest traders of credit‐default swaps.
Banks Face Derivatives Margin Losses as Too‐Big‐to‐Fail Ends
Austerity measures ...
Protect consumers and promote confidence in the financial system
• Traditional tools like scheduled and ad hoc on‐site visits, reviewing compliance, reports, ad hoc requests, etc
• New supervisory tools: “mystery shopper”, consumer
surveys and enhanced reporting.
MARKET CONDUCT
that works...
Panellists:• Antoinette van den Boogaard
(SARB)
• German Anderson (FSB)• Jonathan Dixon (FSB)
Convenor: Leanne van Wyk
Meet the Regulators: a new approach to regulation
