EVIAN, France, July 6 (Reuters) – French President Nicolas Sarkozy warned against a return to the “crazy” pay practices that were current in banks before the financial crisis. “These crazy remuneration levels — the more you speculated, the more you were paid…we won’t accept it,” Sarkozy said in a joint press conference with British Prime Minister Gordon Brown. (more…)
Financial Regulatory Forum
LONDON, July 4 (Reuters) – British finance minister Alistair Darling said “kamikaze” bankers brought the financial system to the point of collapse and regulators would get new powers to probe banks’ affairs.
LONDON, July 5 (Reuters) – The body in charge of Britain’s stakes in Lloyds Banking Group and Royal Bank of Scotland Group, will this week downplay expectations of a quick sale of the shareholdings, according to The Sunday Telegraph.
LONDON, July 6 (Reuters) – Government bail-outs of the world’s big banks pose a threat to free trade, Pascal Lamy, head of the World Trade Organisation (WTO), told the Financial Times newspaper in an interview on Monday.
By Karey Wutkowski and Paritosh Bansal
WASHINGTON/NEW YORK, July 2 (Reuters) – Private equity groups seeking to buy failed U.S. banks would have to maintain very high capital levels and remain owners for three years under tough guidelines proposed on Thursday that some bank regulators fear could deter needed investment.
SEOUL, July 2 (Reuters) – South Korea has started looking into banks’ practice of participating in mergers and acquisitions deals as financial investors, an official said on Thursday, signalling a possible measure to limit M&A financing.
By Paritosh Bansal
NEW YORK, July 1 (Reuters) – A New York plan to offer pre-approved bank charters is on hold after a bill did not make it through the state’s legislature, in a setback to private equity and other investors looking to buy banks.
By Chavon Sutton
NEW YORK, June 30 (Reuters) – Community banks that avoided the excesses of the lending boom and survived the financial crisis without too much trouble are now increasingly worried that they will get penalized by the U.S. government’s regulatory crackdown.
LONDON (Reuters) – Basel II rules will remain the banking industry’s core guide to determining capital charges with only incremental changes expected to reflect lessons from the credit crunch, a top banking supervisor said on Tuesday. (more…)