Financial Regulatory Forum
The following is a guest post by Cornelius Hurley, director of the Morin Center for Banking and Financial Law at Boston University School of Law, and a former assistant general counsel to the Federal Reserve Board of Governors. The opinions expressed are his own.
BERNE, April 22 (Reuters) – Switzerland may have to force its large banks UBS<UBSN.VX> and Credit Suisse<CSGN.VX> to change their structure in order to limit the risks for the economy should either collapse, a government commission said on Thursday. (more…)
from The Great Debate:
If you want less of something, tax it.
That truism is often used as an argument against a tax on profits, or health benefits, or employment, but in the case of the rents extracted from the economy by the financial services industry here's hoping it proves more of a promise than a threat.
DUBLIN, April 21 (Reuters) – Ireland’s financial regulator said the strict new capital levels Irish banks must meet will cushion losses on smaller loans and not just the riskier batches being moved to the country’s “bad bank.” (more…)
The International Monetary Fund has done what it was bid by the G20 and come up with proposals for getting banks to pay for the government help they receive when they get in trouble. You can read the actual wording here, but it comes down to this:
By Caren Bohan
WASHINGTON, March 25 (Reuters) – Fresh from his victory on landmark healthcare legislation, U.S. President Barack Obama is ready to take on Wall Street.