— The author is a Reuters Breakingviews columnist. The opinions expressed are his own —
Financial Regulatory Forum
By Jane Merriman
LONDON, Nov 20 (Reuters) – Investment bankers are already pitching to clients a new form of hybrid bond that financial regulators see as a potential saviour of troubled banks, but it is uncertain if they will work or if investors will buy them.The bonds, which convert to equity if a bank’s capital runs low, have been created for Lloyds as part of a 21 billion pound ($34.63 billion) capital raising to free the UK bank from a government insurance scheme for bad loans.
By Huw Jones
LONDON, Nov 19 (Reuters) – Britain’s financial watchdog will have powers to claw back bank bonuses that breach globally agreed rules on remuneration and force hedge funds to provide data, a draft law published on Thursday showed.
By Matt Falloon and David Milliken
LONDON, Oct 26 (Reuters) – British retail banks should stop paying big cash bonuses and use the money instead to support new lending and contribute to an economic recovery, opposition Conservatives’ finance spokesman George Osborne said on Monday.
LONDON, Oct 14 (Reuters) – Britain’s banking association cast doubt on Wednesday on plans for a new national body to spot asset bubbles and stop them from getting out of control, saying its members were not sure how it would work.
LONDON, Oct 5 (Reuters) – The Bank of England said on Monday it will give more banks access to its open market operations to help smaller institutions better manage their liquidity. (more…)
By Sumeet Desai and David Milliken
LONDON, Sept 15 (Reuters) – The Bank of England could cut the interest rate it pays on the reserves it holds for commercial banks to help stimulate lending and nurture what it says will be a gradual economic recovery, Governor Mervyn King said on Tuesday. (more…)
LONDON, Sept 15 (Reuters) – Below is a full text of Bank of England Governor Mervyn King’s opening statement to parliament’s Treasury Committee. (more…)
LONDON, Aug 25 (Reuters) – The financial crisis has tipped the arguments in favour of central banks acting to stem asset-price bubbles but they will need new instruments to help them do this, Bank of England Deputy Governor Charles Bean said on Tuesday.
By Christopher Johnson and David Sheppard
LONDON, Aug 6 (Reuters) – The UK’s financial watchdog looks likely to resist moves towards tighter regulation on commodity markets if a meeting it held with oil industry representatives is any guide, industry sources said on Thursday.