Financial Regulatory Forum

U.S. bank registry for misconduct gains traction in quest to fight recidivism

May 24, 2016
NEW YORK  (Thomson Reuters Regulatory Intelligence) – The problem of “bad actors” who move from firm to firm within the U.S. banking industry has focused the attention of senior management and regulators, as frustration grows over legal impediments to uncovering past misdeeds of prospective employees. Among possible solutions is a registry of those who have been let go from firms because of misconduct, but there is also a broader slate of options for combating what some see is an important hurdle to cultural reform.The issue was highlighted May 3 at a Thomson Reuters conference on banking culture by Thomas Baxter, executive vice president at the Federal Reserve Bank of New York. Baxter lamented that there was no mechanism today by which banks could identify those who have been let go from former employers for misbehavior.

U.S. regulators ease credit risk rules on guarantees for banks using advanced approach

August 15, 2014

By Bora Yagiz, Compliance Complete

NEW YORK, Aug. 15, 2014 (Thomson Reuters Accelus) – Three major U.S. regulatory agencies have eased requirements under the advanced approach risk-based capital rules by removing a key requirement concerning guarantees provided by counterparties eligible for recognition as credit risk mitigants.

Reforming banking’s risk culture requires breaking “accountability firewall”

September 11, 2013

By Henry Engler, Compliance Complete

NEW YORK, Sept. 11 (Thomson Reuters Accelus) – If there is one part of the cultural makeup of Wall Street that remains firmly in place despite the financial crisis and subsequent avalanche of regulations, it is the reticence among those who lose money to come clean early.

New U.S. capital framework may prove burdensome for small banks

June 25, 2012

By Bora Yagiz

NEW YORK, June 25 (Thomson Reuters Accelus) – As part of an effort to bring the United States in line with the international standards of Basel III, the Federal Reserve Board, the Office of the Comptroller of Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), on June 8, 2012, jointly proposed three rules dubbed together as the integrated regulatory capital framework.

Euro rescue could help banks in regulatory battle

May 10, 2010

By Lionel Laurent and Huw Jones

PARIS/LONDON, May 10 (Reuters) – A $1 trillion rescue package to stabilise the euro could bolster European banks’ negotiating power as they attempt to fight stricter regulatory capital requirements they expect will hurt economic growth.

Is regulation too risky to leave to politicians? EU banks think so

April 28, 2010

By Huw Jones

Put regulation in the hands of politicians and, well, it becomes politicised.

That, anyway, is what Europe’s new kid on lobbying block, the Association for Financial Markets in Europe (AFME’s), told the Reuters Regulation Summit about EU plans to crack down on opaque derivatives markets by insisting on central clearing of standardised contracts, trade reporting and even exchange trading. (more…)

Bundesbank must remain independent, Zeitler says

April 12, 2010

    BERLIN, April 11 (Reuters) – The Bundesbank will not agree to any new national financial supervision structure that might impinge upon its independence, a board member of the German central bank said in a newspaper interview published on Sunday. (more…)

BREAKINGVIEWS-Far too little stress in U.S. bank reform

April 6, 2010

— The author is a Reuters Breakingviews columnist. The opinions expressed are his own —

UK lawmakers seek radical, not rushed bank reform

March 29, 2010

BRITAIN    By Huw Jones
   LONDON, March 29 (Reuters) – Radical and carefully thought reform is needed to shield British taxpayers from having to bail out troubled banks again, a UK parliamentary report said on Monday. (more…)