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Jul 12, 2013

U.S. regulator adopts cross-border rules for swaps

WASHINGTON, July 12 (Reuters) – The top U.S. derivatives
regulator on Friday adopted guidelines on how to apply its rules
abroad, granting some respite to Wall Street banks worried that
a jumble of new international rules would hurt their business.

The U.S. Commodity Futures Trading Commission allowed
foreign branches of U.S. banks to comply with other countries’
regulators for some of its trading rules, but only after a
determination of whether the rules were tough enough.

Jul 11, 2013

Europe, U.S. strike peace on cross-border swap rules

WASHINGTON/BRUSSELS (Reuters) – The European Union agreed with U.S. regulators Thursday on how to jointly supervise foreign derivatives traders operating in their territories, solving a months-long trans-Atlantic rift.

The two sides agreed to rely more on each other’s rules – drawn up to make banking safer after the 2007-09 credit meltdown – and will allow banks some flexibility to get out from under the most cumbersome new oversight.

Jul 11, 2013

Exclusive: U.S. swap regulator close to deal on cross-border rules – source

WASHINGTON (Reuters) – The top U.S. derivatives regulator is within reach of a compromise over how its rules apply to foreign companies dealing with U.S. banks, a source close to the negotiations told Reuters.

Friday is the last day the Commodity Trading Futures Commission (CFTC) can decide on the issue, as a broad temporary relief for foreign companies expires. Having no rule in place would cause regulatory chaos and invoke the wrath of already critical politicians.

Jul 11, 2013

US swap regulator close to deal on cross-border rules – source

WASHINGTON, July 10 (Reuters) – The top U.S. derivatives
regulator is within reach of a compromise over how its rules
apply to foreign companies dealing with U.S. banks, a source
close to the negotiations told Reuters.

Friday is the last day the Commodity Trading Futures
Commission (CFTC) can decide on the issue, as a broad temporary
relief for foreign companies expires. Having no rule in place
would cause regulatory chaos and invoke the wrath of already
critical politicians.

Jul 10, 2013

EU’s Barnier is confident of swaps deal with U.S.

WASHINGTON (Reuters) – The European Union is confident it can end a rift with the United States over how to write common rules for financial derivatives, the bloc’s top bank regulation official said on Wednesday.

The issue could come to a head this week, as the U.S. derivatives regulator needs to decide by Friday how its rules for the $630 trillion swaps industry apply to foreign companies that want to deal with U.S. businesses.

Jul 9, 2013

Big US banks face tougher lending rules than global rivals

WASHINGTON, July 9 (Reuters) – The eight biggest U.S. banks
will need to hold twice as much equity capital as required
globally under a new plan proposed by regulators on Tuesday
intended to protect taxpayers from any future costly bailouts.

The rule would impose a so-called leverage ratio, a hard cap
on how much banks can borrow to fund their business, requiring
them to hold equity capital equal to 6 percent of total assets.

Jul 9, 2013

U.S. regulators plan tough borrowing caps for big banks

WASHINGTON, July 9 (Reuters) – U.S. regulators on Tuesday
launched a plan to force the country’s largest banks to hold
twice as much equity capital as required globally and protect
taxpayers against any future costly bailouts.

The proposed new rule would subject the country’s eight
largest banks to a hard cap on how much they can borrow to fund
their businesses. It imposes a so-called leverage ratio that
would require them to hold equity capital equal to 6 percent of
total assets, regulators said.

Jul 9, 2013

U.S. bank regulators propose 6 percent leverage ratio

WASHINGTON (Reuters) – U.S. regulators on Tuesday are set to propose a plan that would force the country’s largest banks to hold twice as much equity capital than required by the global Basel III bank capital standards.

The eight largest banks would be subject to a leverage ratio of 6 percent, the three regulators said, representing a hard cap on how much a bank can borrow to fund its business.

Jul 9, 2013

US bank regulators propose 6 pct leverage ratio

WASHINGTON, July 9 (Reuters) – U.S. regulators on Tuesday
are set to propose a plan that would force the country’s largest
banks to hold twice as much equity capital than required by the
global Basel III bank capital standards.

The eight largest banks would be subject to a leverage ratio
of 6 percent, the three regulators said, representing a hard cap
on how much a bank can borrow to fund its business.

Jul 8, 2013

U.S. regulator close to deal with Europe on swaps rules

WASHINGTON, July 8 (Reuters) – A trans-Atlantic rift over
derivatives could be ended by an offer from the U.S. swaps
regulator that would spare foreign banks from some tough U.S.
rules, according to two people briefed on the matter.

Gary Gensler, head of the U.S. Commodity Futures Trading
Commission, triggered a rift with Europe last year by insisting
that foreign companies should comply with the agency’s rules if
they trade risky derivatives with U.S. firms.

    • About Douwe

      "I head up the Financial Services team in London. We're 20 journalists, covering M&A, IPOs, restructuring, banking, real estate, investment management, hedge funds and private equity. I've worked for Reuters in Zurich, Frankfurt and Amsterdam."
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