Bank for International Settlements May 3, 2012 The Basel Committee on Banking Supervision has issued a consultative document on the fundamental review of trading book capital requirements. The document sets out a revised market risk framework, as well as a number of proposals to improve trading book capital requirements. Comments on the consultative document should be submitted by September 7, 2012.

Bank of England May 28, 2012 The Bank of England has published a paper on the implicit subsidy of UK banks by the government and the associated distortions in the financial system. Estimates of the implicit subsidy to leading UK banks vary from around £6 billion to over £10 billion.

The CFTC Division of Market Oversight yesterday certified nine contracts submitted by Eurex Deutschland (Eurex) for review on April 18, 2012. View release in full here(links externally to CFTC website).

European Central Bank May 3, 2012 The ECB has published an occasional paper on shadow banking in the Euro Area. The paper presents a first investigation into the size and structure of shadow banking and examines the links between the regulated and non-bank-regulated segments of the financial sector.

Financial Times May 29, 2012 Patrick Pearson, head of the European Commission's Financial Markets Infrastructure Unit, has commented that European regulators will not meet the deadline for mandatory clearing of derivatives set by the G20 for January 1, 2013. Mr. Pearson also noted that the European Securities and Markets Authority was unable to determine compliance dates for clearing and reporting trades.