Financial Regulatory Forum

EU unveils plan to clamp down on derivatives trading

October 20, 2009

A woman walks past a branch of French savings bank Caisse d'Epargne in Bouvigal, near Paris, October 17, 2008. Caisse d'Epargne merged with Banque Populaire to become the country's second-largest retail bank, said last year it had made a 600-million-euro ($808.1 million) trading loss on share derivatives. (File Photo) REUTERS/Benoit Tessier (FRANCE) By John O’Donnell
BRUSSELS, Oct 20 (Reuters) – The European Commission unveiled plans on Tuesday to drive more trading in derivatives onto exchanges and under the gaze of regulators, publishing a raft of proposed new rules.

Dutch government, Deutsche Bank in ABN AMRO deal

October 20, 2009

By Ben Berkowitz and Edward Taylor
AMSTERDAM/FRANKFURT, Oct 20 (Reuters) – Deutsche Bank AG agreed in principle to buy some ABN AMRO assets from the Dutch state in a deal which should clear the way for a merger of nationalised banks ABN and Fortis Bank Nederland.

EU’s Kroes wants courts to tackle illegal state aid

October 19, 2009

European Commissioner in charge of Competition Neelie Kroes delivers a speech at a conference on State Aid Private Enforcement in Brussels October 19, 2009. Germany has assured GM and the Opel Trust that its 4.5 billion euros ($6.70 billion) offer in financial aid for Opel is not tied to the choice of an investor or a plan, European Commission spokesman Jonathan Todd said on Monday. Kroes raised concerns in a letter to the German government last week about German government aid that is to be provided to Opel under a planned sale of the carmaker to Canada's Magna. REUTERS/Sebastien Pirlet  (BELGIUM POLITICS BUSINESS TRANSPORT) BRUSSELS, Oct 19 (Reuters) – The European Union’s antitrust chief urged national courts on Monday to play a bigger role in combating illegal state aid from EU governments to companies.

NEWSMAKER-EU state aid experts mix pragmatism, tough talk

October 16, 2009

By Foo Yun Chee

BRUSSELS, Oct 16 (Reuters) – Neelie Kroes, the European Union antitrust czar, has picked two high-fliers with a wealth of financial and state aid experience to help restructure Europe’s banking landscape in the wake of the credit crisis.

EU shelves plan to unveil disputed bank reform for now

October 16, 2009

European Commissioner in charge of Internal Market and Services Charlie McCreevy speaks during a news conference at EC Headquarters in Brussels September 23, 2009. (file photo)REUTERS/Sebastien Pirlet   (BELGIUM POLITICS BUSINESS) By John O’Donnell and Huw Jones
BRUSSELS, Oct 15 (Reuters) – The European Commission has abandoned plans to publish laws on bank capital rules this month, the EU executive said, amid a dispute that puts a question mark over its centrepiece reform to the way banks work.

EU to strictly apply state aid, competition rules – Barroso

October 9, 2009

European Commission President Jose Manuel Barroso speaks at a news conference at the EU Commission headquarters in Brussels October 3, 2009. (File photo)      REUTERS/Francois Lenoir   (BELGIUM POLITICS)   BRUSSELS, Oct 9 (Reuters) – European Commission President Jose Manuel Barroso said on Friday he would strictly enforce the European Union’s competition and state aid rules, despite calls for a less rigorous approach.

WestLB to shift 87 billion euros to first German bad bank

October 7, 2009

The headquarters of WestLB is pictured before the annual news conference in Duesseldorf March 26, 2009. REUTERS/Ina Fassbender (GERMANY BUSINESS HEADSHOT) By Jonathan Gould and Matthias Inverardi
FRANKFURT/DUESSELDORF, Oct 7 (Reuters) – Germany’s WestLB will jettison at least 87 billion euros ($128 billion) in risky assets to the country’s first “bad bank”, a move other lenders are likely to follow.

COLUMN: EU tilt at UK small-business loan market a tall order: Alexander Smith

October 6, 2009

A customer uses a Royal Bank of Scotland (RBS) cash machine in Edinburgh, Scotland August 7, 2009.  Royal Bank of Scotland reported more losses on Friday as investment banking profits failed to offset bad debts and the state-owned lender warned of more "poor" results to come before its own and the economy's recovery.    REUTERS/David Moir    (BRITAIN BUSINESS BANKING)— Alexander Smith is a Reuters columnist. The opinions expressed are his own –

Dutch finance ministry talks with Deutsche about ABN remedy

October 5, 2009

AMSTERDAM, Oct 5 (Reuters) – The Dutch Finance Ministry and Deutsche Bank are still in talks to meet an EU competition remedy that would allow a merger between state-owned ABN AMRO and Fortis Bank Nederland, the ministry said on Monday.

Dutch get two weeks to finish ABN asset sale

October 2, 2009

European Commissioner for Competition Neelie Kroes speaks at a news conference at the European Commission headquarters in Brussels July 8, 2009. (file photo) By Ben Berkowitz and Gilbert Kreijger
AMSTERDAM, Oct 2 (Reuters) – The European Commission on Friday gave the Dutch government a surprise extension of time to sell portions of nationalised bank ABN AMRO, about two weeks after a sale fell apart and just three hours before what had been regarded as a firm deadline.