Financial Regulatory Forum

Government intervention said unlikely in EU share-data fragmentation

By Reuters Staff
September 8, 2009

By Huw Jones
LONDON, Sept 8 (Reuters) – Fragmentation of share trading data makes it harder for European investors to spot the best prices but there is no appetite so far for public intervention, industry officials said on Tuesday.
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Regulator blocks Royal Bank of Scotland payout of subordinated bonds

By Reuters Staff
September 4, 2009

By Jane Baird and Jane Merriman
LONDON, Sept 4 (Reuters) – Royal Bank of Scotland will not exercise options to redeem more than $1.5 billion of subordinated debt next month after regulators objected to it using state aid to repay the low-ranked bondholders.

Northern Rock defers payments to bondholders, ahead of likely EU order

By Reuters Staff
August 18, 2009

By Tom Freke and Clara Ferreira-Marques
LONDON, Aug 18 (Reuters) – State-owned British bank Northern Rock said on Tuesday it would defer paying interest on a range of subordinated bonds, propping up its capital position and preempting an anticipated European Commission requirement.

How the EU will force banks to save for rainy day

July 29, 2009

BRUSSELS, July 29 (Reuters) – The European Commission is consulting with the banking industry and others about more rules to make banks build up a buffer to ride market downturns.

Fiat wins EU clearance to buy Chrysler

July 24, 2009

CHRYSLER-PRODUCTION/BRUSSELS, July 24 (Reuters) – The European Commission on Friday unconditionally approved the purchase of bankrupt U.S. automaker Chrysler LLC by Italy’s Fiat SpA, saying the transaction would not damage competition in Europe. (more…)

State-aided banks may need to sell assets – EU commission

By Reuters Staff
July 23, 2009

By Foo Yun Chee
BRUSSELS, July 23 (Reuters) – Crisis-hit banks may have to divest assets and hold back on acquisitions to gain European Union regulatory approval for their state bailouts, the European Commission said on Thursday. (more…)

EU drafts sanctions for risky bonuses, tighter capital rules

By Reuters Staff
July 13, 2009

Flags at EU Parliament
By Huw Jones
LONDON/BRUSSELS, July 13 (Reuters) – The European Union on Monday unveiled a new law that punishes banks who encourage too much risk-taking with their policies on pay, in an effort to put an end to the practices blamed for the credit crunch.
A draft law published by the European Commission tightens EU rules on bank capital and requires banks to improve disclosure of the holdings in securitised products, bidding to apply lessons from the worst financial crisis since the 1930s. (more…)

EU ministers agree on flexible bank capital rules

By Reuters Staff
July 7, 2009

European Monetary Affairs Commissioner Joaquin Almunia and Sweden's Finance Minister Anders Borg (R)    By Dave Graham and Marcin Grajewski
   BRUSSELS, July 7 (Reuters) – European Union finance ministers agreed in principle on Tuesday to make capital rules for banks more flexible to reduce their likelihood of worsening boom-and-bust cycles in the economy.  The ministers also raised doubts about a German proposal to relax temporarily the Basel II rules on capital requirements for banks to boost lending and accelerate a recovery from the worst economic crisis since World War Two. (more…)

Germany seeks to ease parts of Basel II capital rules

By Reuters Staff
July 1, 2009

    By Marcin Grajewski and Huw Jones
   BRUSSELS/LONDON (Reuters) – Germany wants to relax global rules on capital charges to ease writedown pressures on banks holding toxic assets, an EU document showed on Wednesday.
   European Union finance ministers meet next week and will be asked to endorse a report from their Economic and Financial Committee on how to stop rules amplifying market turmoil. (more…)