Financial Regulatory Forum

EU may force UK’s Lloyds to sell Halifax – report

Signs hanging over the Lloyds TSB Bank and Royal Bank of Scotland are seen in Loughbrough, central England, September 17, 2008. British bank Lloyds is in advanced merger talks with UK mortgage lender HBOS, the BBC reported on Wednesday, citing sources. HBOS, the group created by the merger of Halifax and Bank of Scotland, is Britain's largest savings group. REUTERS/Darren Staples (BRITAIN)    LONDON, Sept 15 (Reuters) – The European Commission may force Lloyds Banking Group <LLOY.L> to sell off all or part of its Halifax branch network as compensation for the billions of pounds of state aid the group has received, the London Times reported. (more…)

U.S. banks to be first to shed government support

great_escape_jump    By Nigel Davies
   LONDON, Sept 11 (Reuters) – U.S. banks will be free of bailout obligations like those owed to the Troubled Asset Relief Program within two years, a Reuters poll of economists found on Friday, but European lenders will take longer to cut loose from public support. (more…)

EU plans powerful new banking watchdog -draft

eu-flag   BRUSSELS, Sept 10 (Reuters) – The European Union plans to create a banking super-watchdog and give it power to overrule countries such as Britain, according to draft legislation that could come into effect next year. (more…)

Europe split over U.S. bank capital plans

BRITAIN/   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…)

Businesses demand easing of EU bank capital rules

conf    BRUSSELS, Sept 3 (Reuters) – Leading German and Italian business groups urged the European Union on Thursday to relax capital requirements for banks temporarily to boost lending and fight the economic crisis. (more…)

U.S. turns up heat on Basel bank reform

FINANCIALS-GEITHNER/    By Huw Jones
   LONDON, Sept 3 (Reuters) – U.S. pressure to toughen up how banks set aside capital suggests reform of Basel II rules on capital adequacy could be drawn out for years, leaving banks in the lurch.
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EU’s Barroso plans more euro zone cooperation

EU-PAKISTAN/    BRUSSELS, Sept 3 (Reuters) – Jose Manuel Barroso vowed on Thursday to work to boost cooperation within the euro currency zone if he is elected for a second five-year term as president of the European Commission, the European Union’s executive body.
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Thomson SA to test new Europe CDS settlement rules

thomson-logo   By Natalie Harrison
   LONDON, Aug 13 (Reuters) – A credit event at France’s Thomson SA, the first to feature in a current benchmark European credit default swap index, will test the market’s ability to cope with complex new auction rules to settle CDS.
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EU ratings register would boost competition-banks

    By Huw Jones
   LONDON, Aug 12 (Reuters) – Financial firms said European Union plans for comparing credit rating agencies would boost competition and increase investor power, documents from the bloc’s regulators showed on Wednesday.
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Pending EU solvency rules challenge insurers – adviser

By Nigel Tutt
MILAN, Aug 7 (Reuters) – Traditional insurance groups, such as Italy’s Assicurazioni Generali SpA, are likely to find the transition to the EU’s latest solvency rules more challenging, said Deloitte Consulting’s Giovanni Bragolusi.

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