"I'm very skeptical of this, " says Bert Ely, a banking regulation consultant in Arlington, Va.
In emerging economies especially (where banking regulation is weakest), illegitimate money can poison the financial system, undermining public confidence.
Mr Mahuad's government has already started to tighten Ecuador's lax banking regulation, and plans to reduce the number of banks.
The state-or-federal option would to some degree mirror U.S. banking regulation, where many banks can switch between state and federal charters.
That we need to have different banking regulation from what we have had is, I think, agreed by pretty much everyone.
FORBES: Banking Regulation, Yes, But Perhaps Not Stupid Banking Regulation?
This would require a complete shift of banking regulation and supervision to the European level and the creation of a European bank resolution mechanism.
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Turkey's new Banking Regulation and Audit Board said that Ihlas faced hopeless liquidity problems that stemmed from years of mismanagement and abuse of depositors' funds.
But Lamberts says he is not "overly concerned" if the banker flight rids the European financial sector of excessive risk and circumvention of banking regulation.
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Asked whether he thought some bankers would use Davos only as a lobbying tool against the kind of banking regulation favored by Sarkozy, Schwab remained positive.
"Politicians want to look like they are doing something while not doing something, " says Joseph Mason, a professor at Drexel University who studies banking regulation and capital markets.
Deficits need cutting, the eurozone has to get decisive to reassure markets and banks must be strengthened and banking regulation co-ordinated, while spurring job creation and boosting growth.
The centre-right European People's Party (EPP) - the biggest grouping of MEPs - calls the new rules "the most comprehensive and most far-reaching banking regulation in the history of the EU".
The concerns of some may be eased by Alistair Darling, the chancellor of the exchequer, who fleshed out plans to shake up banking regulation in a speech to bankers on June 18th.
That we must have more banking regulation is less widely agreed: there are those like myself who think that less regulation and more actual risk for actual bankers will do the trick very well.
FORBES: Banking Regulation, Yes, But Perhaps Not Stupid Banking Regulation?
Politically, a Europeanization of the banking sector would also require countries to give up sovereignty, but in the area of banking regulation and supervision, which is rather technocratic and more remote from day-to-day concerns of ordinary citizens.
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In November 1990, the longest-serving member of her cabinet, Geoffrey Howe, resigned over her hostile position on a process of European integration, under which more national powers, on issues from banking regulation to working practices, were moving to Brussels.
Congress will also try to muscle in on banking regulation: at the very least, it will try to ensure that state attorneys-general, like Mr Spitzer, no longer drive a process that they believe to be the preserve of the federal government and federal agencies.
President Jose Manuel Barroso's call in the Financial Times for Europe to create a single banking regulation system and a financial backstop is highly significant: Germany is believed to support a move to create at least stage one of the union rapidly, ie common supervision, with 1 January 2013 mooted as the start date.
Mr. ROGER COLE (Director, Federal Reserve's Division of Banking Supervision and Regulation): I will say that given what we know now, yes, we could have done more sooner.
If you want to see a banking industry and regulation that does protect the customer, look at Japan where regulation requires banks to make sure their products meet real customer needs.
But Chancellor George Osborne has defended the results of the summit, telling the programme that "concrete steps" had been taken in the interest of securing the global recovery - citing IMF reform and international regulation on banking.
He has taken an "anti-austerity" stance, criticising the "light touch" regulation of the banking industry and the government's programme of cuts.
He has created a new set of banking regulations and a consumer regulation agency that have at least established parameters for acceptable behaviors in that industry.
This is why enhanced supervision and regulation of shadow banking will be one of the top priorities for the Financial Stability Board in the coming months.
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Keating sent a letter to remind Durbin of the concerns the banking industry has over a regulation that would limit fees charged on debit card swipes.
The British Prime Minister, Tony Blair has announced the establishment of a new joint trust fund to help Asian countries improve the regulation of their banking sectors.
Lloyds has said that following discussions with the banking regulator, the Prudential Regulation Authority, it does not need to sell new shares to boost its capital resources and enhance its ability to absorb future losses.
And we are going to have to unlock that, and that's going to require an interface between what we're doing on the recovery side and what we're doing on financial regulation and our banking policies.
WHITEHOUSE: President Obama Closes Forum on Jobs and Economic Growth
An independent panel of academics Monday cautioned Washington against rushing into an innovation-stifling regulation of investment banking, but urged that structures be put in place to ensure the industry itself bears the cost of any future federal bailouts.
This nineteenth trading week of 2012 comes to a close with investors shocked and some calling for more regulation within the banking sector after the announcement by JP Morgan (JPM) that it sustained heavy derivative based losses.
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