LONDON, Sept 5 (Reuters) – Group of 20 finance chiefs agreed on Saturday to back a U.S. plan for banks to hold more and higher quality capital, resolving differences over which set of rules to pursue going forward, a G20 source told Reuters. (more…)
Financial Regulatory Forum
SHANGHAI, Sept 5 (Reuters) – China’s banking regulator may change draft rules it has sent to institutions seeking feedback on changes to banks’ capital restrictions, said an official from the China Banking Regulatory Commission (CBRC) on Saturday. (more…)
By Anna Willard and Huw Jones
LONDON, Sept 4 (Reuters) – Continental European officials defended the globally-agreed Basel II capital rules for banks on Friday despite a U.S. call for its effective replacement with a tougher new regime within three years. (more…)
By Paul Taylor
PARIS, Sept 3 (Reuters) – By jumping on the Franco-German bandwagon to curb bankers’ bonuses, British Prime Minister Gordon Brown is playing a political game.
Many regulators don’t believe that regulating pay will make the financial system more stable. Rather, as Adair Turner, the chairman of Britain’s FSA has observed, the problem lies in the excessive profitability of banks — a function of regulatory arbitrage and inadequate competition. (more…)
By Karey Wutkowski
WASHINGTON, Sept 3 (Reuters) – The U.S. Treasury Department on Thursday proposed tough international standards on capital and liquidity at banks, saying new rules are needed to reduce the risk of another global financial crisis.
BEIJING, Sept 3 (Reuters) – China’s banking regulator is refusing to allow banks with a capital adequacy ratio below 9 percent to start new lines of business or open new branches, a government researcher said in remarks published on Thursday.
LONDON, Sept 3 (Reuters) – UK financial regulator Chairman Lord Adair Turner backed plans to make systemically important banks draw up “living wills” or wind-down plans in case they fail, the FT reported on Thursday.
By Kirstin Ridley
LONDON, Sept 1 (Reuters) – Britain’s leading banks are dropping around 9 percent of applicants for top management positions for fear the regulator will reject them and publicly damage reputations, a law firm said on Tuesday.
WASHINGTON, Aug 28 (Reuters) – U.S. bank regulators said on Friday that they are extending the amount of time they keep new banks under strict supervision, saying recent bank failures have indicated that new institutions pose an elevated risk to the insurance fund that safeguards bank deposits.