financial regulation

Good macro data from the UK, but a warning from Fitch that the UK is the likeliest of the big economies to suffer a rating downgrade. The chorus of concerns about CRE sings louder, and much debate on Dodd’s regulation reform proposals Read more

Krishna Guha

Chris Dodd‘s financial regulatory reform plan goes too far in my view in stripping away powers from the Fed. It makes sense to take away the Fed’s ability to bail out individual companies under 13.3 once there is a special resolution entity in place to manage financial failures. But taking away the Fed’s banking supervision role risks robbing it of an information flow vital to deal with financial stability threats. And giving systemic risk powers to a new agency is a recipe for confusion or worse.

Why? Because an economy with a systemic risk or macroprudential regulator and a separate central bank would be like a car with two drivers. Read more

Chris Giles

Gordon Brown has just tried to upstage the G20 finance ministers meeting by reheating the idea of a global levy on financial transactions – a tobin tax of sorts. His words were rather more cautious than the spin and this idea is still going absolutely nowhere, writes Chris Giles of the Financial Times.  Read more

Ralph Atkins

An attack by Christian Noyer on the banking system reflects the ECB’s mood, writes Ralph Atkins of the Financial Times Read more

Chris Giles

An international tax on bankers and a Franco-British initiative for poor countries; just two of the most empty gestures at this weekend’s IMF and World Bank annual meetings in Istanbul, writes Chris Giles of the Financial Times Read more