The “pro-cyclical” effect of the Basel II capital rules on the Asian economy is over-emphasised, Bear Stearns (Japan) managing director Ahmet Yetis told the ICBI conference in Singapore.

A new test of Solvency II begins with contentious issues still open, not least group supervision. There are fears that the project could yet be derailed, reports David Keefe

Europe’s Solvency II regime for insurers is not being developed in a vacuum and its global implications abound, including increasing the pressure on the US to create a federal charter option for America’s insurers, says credit rating agency Standard & Poor’s.

WASHINGTON, March 13 (Global Risk Regulator) – A “reasonable set of options” may need to be considered by the International Monetary Fund (IMF) to safeguard the stability of financial systems if further risks materialise from the present global financial turmoil, IMF first deputy managing director John Lipsky said yesterday.

WASHINGTON, March 13 (Global Risk Regulator) – Enhanced disclosure and better risk management are among several recommendations made today by US regulators to counter current financial turmoil.

BRUSSELS, March 11 (Global Risk Regulator) – European Union leaders gathering here on Thursday for a two-day meeting will endorse a call by the bloc\'s finance ministers for greater vigilance in the face of continuing turbulence in the world\'s markets, according to draft summit conclusions.

RIO de JANEIRO, March 7 (Global Risk Regulator) – Work by a top international banking lobby on an industry response to the current financial turmoil has made significant progress, the organisation’s chiefs reported yesterday.

NEW YORK, March 6 (Global Risk Regulator) – The world’s top financial regulators are backing the efforts of global banking regulators to strengthen the robustness of the Basel II bank safety rules as part of an agenda for buttressing oversight following the current turmoil in financial markets.

LONDON, March 6 (Global Risk Regulator) – Little other than the outlines of progress so far is expected to emerge from the spring meeting in Rio de Janeiro this week of the Institute of International Finance (IIF), the influential body that represents the world’s top international banks.

LONDON, March 4 (Global Risk Regulator) – Global financial regulators could revive the idea of using a simple leverage ratio for bank capital in their efforts to make the world’s financial system more robust following the market turmoil sparked by the meltdown in the US market for subprime mortgage lending.