Financial Regulatory Forum

UK banks should use bonus cash to lend – Conservatives’ Osborne

October 26, 2009

British opposition Conservative finance spokesman George Osborne speaks at a Reuters Newsmaker event in London October 26, 2009.  Osborne said that British retail banks should be stopped from paying big cash bonuses and use the money instead to support new lending.     REUTERS/Kevin Coombs (BRITAIN BUSINESS POLITICS)   By Matt Falloon and David Milliken
LONDON, Oct 26 (Reuters) – British retail banks should stop paying big cash bonuses and use the money instead to support new lending and contribute to an economic recovery, opposition Conservatives’ finance spokesman George Osborne said on Monday.

U.S. FDIC launches test of toxic asset sale program

July 31, 2009

WASHINGTON, July 31 (Reuters) – The U.S. Federal Deposit Insurance Corp is launching the first test of its Legacy Loans Program to help banks rid their balance sheets of toxic assets so they can raise new capital and increase lending, the agency said on Friday.

China tells banks to ensure loans enter real economy

July 27, 2009

BEIJING, July 27 (Reuters) – Chinese banks must ensure that loans they issue for investment projects are actually being put to use in the real economy, the country’s banking regulator said on Monday.

INTERVIEW – U.S. Treasury devising aid for CIT -Rep. Frank

July 15, 2009

U.S. Rep. Barney Frank By Karey Wutkowski
WASHINGTON, July 15 (Reuters) – The U.S. Treasury Department wants to find a “responsible” way to provide government aid to troubled lender CIT Group Inc, Representative Barney Frank said on Wednesday. “I’ve spoken with (Treasury) Secretary Geithner, and I understand they’re working hard to try to come up with something responsible to try to prevent the failure,” Frank, chairman of the House Financial Services Committee, told Reuters in an interview. (more…)

CIT survival ensnared in regulatory battle

July 13, 2009

By Elinor Comlay and Karey Wutkowski
NEW YORK/WASHINGTON, July 13 (Reuters) – The survival of CIT Group Inc <CIT.N>, a key source of financing for thousands of small and medium-sized companies, became ensnared in disagreements between regulators in Washington on Monday. (more…)

World policymakers urge banks to lend, express concern

July 6, 2009

                World Bank President Robert Zoellick                         By Laura Macinnia and Patricia Zengerle
  (GENEVA/SHINGTON, July 6 (Reuters) – World economic leaders called on commercial banks on Monday to step up lending to revive an economy pitched into recession by failure of the global financial system.  The World Bank, in a letter to Group of Eight nations due to meet this week, said interventions by central banks and governments appeared to have “broken the fall in the global economy,” but 2009 remained a dangerous year. 

Sarkozy says no to “crazy pay” by banks

July 6, 2009

 EVIAN, France, July 6 (Reuters) – French President Nicolas Sarkozy warned against a return to the “crazy” pay practices that were current in banks before the financial crisis. “These crazy remuneration levels — the more you speculated, the more you were paid…we won’t accept it,” Sarkozy said in a joint press conference with British Prime Minister Gordon Brown. (more…)