Financial Regulatory Forum

BREAKINGVIEWS-FSA too weak on hybrid capital

December 11, 2009

– The author is a Reuters Breakingviews columnist. The opinions expressed are his own – 
   By George Hay
   LONDON, Dec 11 (Reuters Breakingviews) – The Financial Services Authority needs to be tougher on bank capital. The UK regulator is considering allowing banks to count their current stock of hybrid securities as part of loss-absorbing reserves for another decade, and potentially longer. Such a grandfathering goes against the FSA’s policy goal of improving the quality of bank capital. (more…)

UK Darling’s 2009 pre-budget report to parliament

December 9, 2009

Alistair Darling    LONDON, Dec 9 (Reuters) – Below are highlights from British finance minister Alistair Darling’s pre-budget report to parliament on Wednesday. (more…)

Barclays says bonus tax against G20 spirit

December 8, 2009

   HORSHAM, England, Dec 8 (Reuters) – Imposing a tax on bankers’ bonuses would not be in line with the principles for compensation set out by leading G20 countries last year, the head of Barclays’ <BARC.L> investment bank said on Tuesday. (more…)

UK watchdog FSA sees tougher trading supervision

November 24, 2009

fsa_logo   By Huw Jones
   LONDON, Nov 23 (Reuters) – The UK financial services sector must face a “profound shift in regulatory philosophy” that includes tougher curbs on trading to cut risk, Britain’s financial watchdog said. (more…)

UK bank bail-out may have broken WTO rules-report

November 23, 2009

Pascal Lamy, Director-General of the World Trade Organization     LONDON, Nov 22 (Reuters) – The British government could face trade sanctions if it is found guilty of protectionism as a result of the bank bail out, Pascal Lamy, director general of the World Trade Organisation, told the Sunday Telegraph. (more…)

EU clears revamp plans for Lloyds, ING, KBC

November 18, 2009

LLOYDS/   BRUSSELS, Nov 18 (Reuters) – Plans by three major European banks to sell chunks of their operations in return for state aid were approved by EU authorities on Wednesday, marking the latest regulatory-enforced financial break-ups. (more…)

UK banks should draw up living wills-FSA

October 22, 2009

   LONDON, Oct 22 (Reuters) – Britain’s financial watchdog said on Thursday banks should start drawing up living wills so they can be wound up quickly in times of trouble without destabilising the broader financial system. (more…)

UK’s Darling: One set of positive data not enough

October 21, 2009

BRITAIN/   By Matt Falloon and David Milliken
   LONDON, Oct 21 (Reuters) – One set of encouraging economic data would not mean that a recovery is entrenched and the British government must keep borrowing to support growth, finance minister Alistair Darling said on Wednesday.
(more…)

Reaction to BoE Governor King’s speech on banks

October 21, 2009

BRITAIN-BANK/    LONDON, Oct 21 (Reuters) – Bank of England Governor Mervyn King said a fundamental rethink of banking sector regulation was needed to prevent a recurrence of the financial crisis and floated the idea of splitting core aspects of banking from riskier speculative activities.  (more…)

FSA says bank bonuses should take account of govt help

October 19, 2009

   LONDON, Oct 19 (Reuters) – Britain’s financial regulator said on Monday banks should consider their wider responsibility to society and “soft” government guarantees that have helped to support them, before deciding on bonus payouts later this year. (more…)