ZURICH, Nov 11 (Reuters) – Switzerland’s biggest banks and insurers will have to adhere to new compensation rules requiring them to defer the bulk of managers’ bonuses and to strictly align pay to performance, Swiss regulators said on Wednesday.
Financial Regulatory Forum
By Brian Love
PARIS, Nov 8 (Reuters) – The International Monetary Fund is exploring the idea of making banks pay insurance fees to fund any future rescues in the sector, IMF managing director Dominique Strauss-Kahn said on Sunday.
By Huw Jones
ST ANDREWS, Scotland, Nov 6 (Reuters) – Finance ministers from the world’s big economies launch difficult discussions this weekend on how to deal with banks whose failure could destabilise economies. Any blueprint is likely to take many months to thrash out.
LONDON, Oct 28 (Reuters) – Britain’s financial watchdog will start regulating lenders’ day-to-day contact with their customers to ensure services such as direct debits, payments, interest change notifications and savings accounts are fair.
By Omar Valdimarsson
REYKJAVIK, Oct 18 (Reuters) – Iceland said on Sunday it had agreed to a new deal to repay Britain and the Netherlands billions of dollars of deposits lost when the island’s banks collapsed in 2008, paving the way for new aid from international lenders.
LONDON, Oct 19 (Reuters) – Britain’s financial regulator said on Monday banks should consider their wider responsibility to society and “soft” government guarantees that have helped to support them, before deciding on bonus payouts later this year. (more…)
FRANKFURT, Oct 10 (Reuters) – The chair of Germany’s financial stabilisation fund SoFFin is concerned about a credit crunch for German companies as banks are forced to shore up their capital base to offset potential problem loans. (more…)
By Kevin Drawbaugh and Christopher Doering
WASHINGTON, Oct 9 (Reuters) – The chairman of the U.S. House of Representatives Agriculture Committee on Friday unveiled a draft bill on regulation of over-the-counter derivatives that differs in some key respects from bills drawn up elsewhere in the House and by the Obama administration.
HAMBURG, Germany, Oct 7 (Reuters) – The financial sector faces big challenges even after governments intervened massively to prop up tottering banks, the head of Germany’s nearly 500 billion euro ($735 billion) bank rescue fund Soffin warned. (more…)