Financial Regulatory Forum

   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.

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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.
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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.

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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…)

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…)

                                         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. 

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 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…)