LONDON, August 22 (Global Risk Regulator) – Britain’s top financial supervisor today rejected industry calls for so-called lead regulators of big international firms and urged greater co-operation between Europe’s financial regulators.

Top US bank regulators to hold September strategy parley. Basel Committee meets in October to hear cause of QIS4 capital slump - By Melvyn Westlake

US officials are seeking a pragmatic solution to the risk allocation problem – if they’ve found one, they’re keeping quiet about it. By David Keefe

New Zealand banks will have to adopt an advanced measurement approach (AMA) to measuring their operational risk, if they use an internal ratings-based (IRB) approach to credit risk under the complex Basel II bank safety rules.

Credit rating firms face further Congressional hearings. Legislation is in the works. Can a voluntary regime be agreed? By Melvyn Westlake

New capital rules are boosting sound corporate governance among US banks but choosing a good board can be tricky - and mistakes can hurt a credit rating he risk-based international Basel II bank safety rules have certainly focused the attention of US bank boards on efforts to upgrade risk management policies and systems, according to a leading credit rating agency.

Banking practices have undergone “sea change” since 2000-2001 crises. Roadmap issued for adoption of new capital rules

LONDON – Nine out of ten senior risk managers and chief risk officers expect the business cost of regulation to increase over the next three years. Only 17% of them are very confident that their companies are compliant with regulation in their overseas markets. This is revealed in a global survey of 230 senior executives undertaken by the Economist Intelligence Unit (EIU) in June, and published in July.*

COLOMBO – The major challenge for Sri Lankan banks in the next few years will be the information technology required, and the skills development and training needed, to implement the more advanced risk measurement approaches of the Basel II bank safety rules, according to Sri Lanka’s central bank governor.

KUALA LUMPUR – Total international convergence of bank safety rules can’t be expected in practice, given the varying levels of sophistication between developed and emerging countries, Malaysia’s central bank governor warned in August.