Financial Regulatory Forum

Impact analysis: UK outline of new approach to financial regulation

By Susannah Hammond

LONDON, Feb. 24 (Complinet) -The British Treasury’s latest proposal for reshaping financial regulation, published last week, has given more detail to the plans set out in an outline last summer. The fundamental shape of the new bodies now looks to have been finalized, but many fine points on how the new approach will actually function in practical, operational and cultural terms are still under consideration.

Following is a discussion of the major elements of the consultation, “A new approach to financial regulation: building a stronger system,” and how they may affect the UK financial industry:

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European Central Bank says E.Europe bank-asset risks remain

By Boris Groendahl

VIENNA, Dec 18 (Reuters) – Western European banks could still be hit by a further rise in bad debt in emerging Europe if the economic downturn is worse than expected or if currencies decline, the European Central Bank (ECB) warned on Friday.

The ECB said in its half-yearly financial stability report that vulnerabilities eased in the region, which includes the new EU member states as well as Ukraine and others in the former Soviet Union and Croatia or Serbia the former Yugoslavia.

The region suffered a sudden reversal of fortunes this year when a boom driven by western bank loans, exports, investment, and consumer spending slammed to a halt and caused steep contractions in almost every country.

US bailout fund left many problems unsolved-watchdog

    By David Lawder
   WASHINGTON, Dec 9 (Reuters) – The U.S. government’s $700 billion bailout program helped stabilize the financial system, but has done little to boost lending or stave off millions of home foreclosures, a government watchdog group said on Wednesday. (more…)

ECB’s Trichet-hard to judge financial stability

Jean-Claude Trichet, President of the European Central Bank (ECB) REUTERS/Johannes Eisele (GERMANY BUSINESS)    FRANKFURT, Nov 18 (Reuters) – Assessing the stability of Europe’s financial institutions is “particularly complex” at the moment, European Central Bank President Jean-Claude Trichet said on Wednesday. (more…)

UK urged to ready veto on EU bank supervision plan

By Huw Jones
LONDON, Nov 16 (Reuters) – A sweeping European Union reform of financial supervision could turn into a muddle which Britain should veto unless there are tougher national safeguards, a UK parliamentary report said on Monday.

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ECB’s Weber: policymakers must not miss time for exit

German Bundesbank President Axel Weber exists his limousine as he arrives for a finance meeting with Finance Ministers of Germany's federal states in Berlin, April 27, 2009. Finance Minister Peer Steinbrueck met state leaders on Monday to take soundings on the state controlled Landesbanks' situation and discuss their future.   REUTERS/Fabrizio Bensch (GERMANY BUSINESS POLITICS)    FRANKFURT, Nov 15 (Reuters) – Missing the right moment for the exit from extraordinary policy steps to combat the financial crisis carries the risk of creating new turbulence, European Central Bank Governing Council member Axel Weber said on Monday.
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Sen Dodd seeks more muscle in US financial reforms

Senate Banking Committee Chairman Sen. Chris Dodd listens to testimony at the Senate Banking Committee on Capitol Hill in Washington, July 23, 2009.      REUTERS/Larry Downing (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh
WASHINGTON, Nov 10 (Reuters) – Pushing for tougher changes in U.S. financial regulations, the Senate’s top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections.
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G20 tries to roll back moral hazard in banks

An office worker leaves an Australia and New Zealand Bank mortgage centre in central Sydney September 1, 2009.   By Huw Jones
ST ANDREWS, Scotland, Nov 6 (Reuters) – Finance ministers from the world’s big economies launch difficult discussions this weekend on how to deal with banks whose failure could destabilise economies. Any blueprint is likely to take many months to thrash out.

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EU clears Northern Rock break-up plan, paves way for sale

A woman is reflected as she passes a branch of Northern Rock in London August 4, 2009. (File Photo).  REUTERS/Luke MacGregor   (BRITAIN BUSINESS)  By Foo Yun Chee and Clara Ferreira-Marques
BRUSSELS/LONDON, Oct 28 (Reuters) – European Union
regulators have approved a UK government plan to break up
state-owned mortgage bank Northern Rock, in a move that clears the way for the sale of key parts of the battered lender.

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EXCLUSIVE-Obama ‘too big to fail’ bill draft curbs bailouts

WASHINGTON, Oct 27 (Reuters) – A key U.S. congressional committee was expected on Tuesday to release draft legislation agreed with the Obama administration that will restrict future bailouts and create a new protocol for government handling of giant financial firms that get into trouble, a senior congressional source told Reuters.

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