Financial Regulatory Forum

COLUMN-Tin squeeze tests regulator’s mettle in U.K.: John Kemp

October 5, 2009

— John Kemp is a Reuters columnist. The views expressed are his own —

By John Kemp
LONDON, Oct 5 (Reuters) – The year-long squeeze in the London Metal Exchange’s tin contract has renewed intense criticism about the ineffectiveness of commodity regulation in London. It comes at an awkward time, just as the UK authorities try to resist pressure from the United States to introduce stricter market oversight and tougher position limits.

G20 may blacklist regulatory havens – UK finance minister

October 3, 2009

Britain's Chancellor of the Exchequer, Alistair Darling, attends a news conference at the G20 Finance Ministers meeting, in central London September 5, 2009. ISTANBUL, Oct 3 (Reuters) – The Group of 20 major nations may blacklist countries that have lax financial regulation and impose sanctions on them, mirroring its crackdown on tax havens, Britain’s finance minister was quoted as saying.

Fed officials: Economy mending, but weakness persists

October 2, 2009

By Kristina Cooke and David Beasley
NEW YORK/MACON, Ga., Oct 1 (Reuters) – Federal Reserve officials said on Thursday that while the recession-battered economy is on the mend, it will be weak for a while and the Fed is likely to keep its extensive support policies in place for a while.

Key US senator determined to create super bank cop

September 29, 2009

U.S. Senator Christopher Dodd (D-CT) speaks in front of his close friend Senator Edward Kennedy's casket during a "Celebration of Life Memorial Service" for Kennedy at the John F. Kennedy Library and Presidential  Museum in Boston, Massachusetts August 28, 2009. By Karey Wutkowski
WASHINGTON, Sept 29 (Reuters) – A senior U.S. Democratic senator said on Tuesday he is moving forward with his effort to consolidate bank supervision into a single federal regulator, despite criticism from current bank regulators who do not want to lose power.

Merkel to G20: regulation before rebalancing

September 24, 2009

Angela Merkel (R) German Chancellor and leader of the Christian Democratic Union (CDU) enters her limousine as she leaves the Chancellery on her way to Tegel airport in Berlin, September 24, 2009. Merkel urged Group of 20 leaders on Thursday to agree concrete new regulations for financial markets at a summit this week and not let themselves be sidetracked by other economic themes.    REUTERS/Fabrizio Bensch (GERMANY POLITICS BUSINESS) By Madeline Chambers and Emily Kaiser
BERLIN/PITTSBURGH, Sept 24 (Reuters) – German Chancellor Angela Merkel warned on Thursday a U.S. drive to rebalance the global economy risked distracting the Group of 20 from a more urgent need for market regulation at their Pittsburgh summit.

EU unveils blueprint to overhaul policing of banks

September 23, 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. The European Union unveiled its blueprint on Wednesday for an overhaul of the way banks and financial markets are policed, a central plank to new rules designed to prevent a repeat of the global economic crisis.  REUTERS/Sebastien Pirlet   (BELGIUM POLITICS BUSINESS) By John O’Donnell

BRUSSELS, Sept 23 (Reuters) – The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, a central plank in new rules designed to prevent a repeat of the global economic crisis. It plans to create a banking super-watchdog, with power to overrule countries such as Britain, and a pan-European supervisor that would warn of early signs of crisis.

City of London, U.S. lobbies are fighting market regulation – Germany

September 23, 2009

German Finance Minister Peer Steinbrueck arrives to the weekly cabinet meeting in Berlin, August 5, 2009.   REUTERS/Fabrizio Bensch (GERMANY POLITICS) BERLIN, Sept 23 (Reuters) – The City of London is doing its best to block the introduction of stricter financial market regulations, but tougher rules will come, German Finance Minister Peer Steinbrueck said a day before a Group of 20 summit.

Top US lawmakers stress financial reform common points, delay seen

September 22, 2009

U.S. Senate Banking Committee Chairman Chris Dodd (D-CT)(R) and Chairman of the House Financial Services Committee Barney Frank (D-MA) speak after a news conference on Capitol Hill in Washington, November 20, 2008.  REUTERS/Jim Young (UNITED STATES)By Kevin Drawbaugh
WASHINGTON, Sept 22 (Reuters) – The U.S. Congress’ two top legislators on financial reform stressed their points of agreement on Tuesday, despite lingering differences and a prediction from one that the reform debate may be prolonged.

Senior US senator favors bank super-cop idea -aide

September 21, 2009

U.S. Senator Christopher Dodd (D-CT) speaks in front of his close friend Senator Edward Kennedy's casket during a "Celebration of Life Memorial Service" for Kennedy at the John F. Kennedy Library and Presidential  Museum in Boston, Massachusetts August 28, 2009. Kennedy died late Tuesday after a battle with cancer. REUTERS/Brian Snyder    (UNITED STATES POLITICS OBITUARY)By Kevin Drawbaugh
WASHINGTON, Sept 20 (Reuters) – The U.S. Senate’s top legislator on financial regulation favors reducing the number of bank supervisory agencies more sharply than the Obama administration proposes, said a senior Senate aide on Sunday.

Japan bank minister says repayment halt good for banks

September 18, 2009

Japan's newly appointed Financial Services and Postal Services Minister Shizuka Kamei speaks during a news conference at the prime minister's official residence in Tokyo September 16, 2009.   REUTERS/Issei Kato By David Dolan and Noriyuki Hirata
TOKYO, Sept 19 (Reuters) – Japan’s new banking minister said his plan to freeze the repayment of bank loans to help debt-burdened individuals and small companies would be a positive for the banks, even as investors have fled financial stocks.