LONDON, Oct 22 (Reuters) – Global banking regulators are not
looking for the banking sector to raise yet more capital as
political support for additional rules wanes and the regulatory
juggernaut slips down a gear, top officials said on Thursday.
Global banking watchdogs are finishing a package of new
capital rules, aimed at making the industry safer in the wake of
the 2007/09 financial crisis.
LONDON, Oct 22 (Reuters) – The Bank of England and
international authorities are examining whether promises by
funds to give investors their money back at any time could end
up damaging liquidity in markets, a top BoE official said on
Sharp moves – “taper tantrums” – in U.S. government bond
prices have raised concern among central banks.
LONDON, Oct 21 (Reuters) – Britain’s promise of a “new
settlement” with banks does not mean that regulators will pull
their punches when it comes to stopping bad behaviour, the
Financial Conduct Authority said on Wednesday.
A softer line towards banks in Britain looked to be on the
cards after British finance minister George Osborne in June
referred to the new settlement with the financial industry,
taken to mean an end to the so-called “banker bashing” in the
years following the 2007-2009 financial crisis.
LONDON, Oct 21 (Reuters) – Britain’s smallest lenders and
units of foreign investment banks operating in the country will
escape the Bank of England’s ‘stress tests’, the central bank
said on Wednesday, as the country seeks to boost competition in
The BoE said it will focus on major banks which account for
80 percent of the country’s lending, but left the door open to
broaden the scope of its annual tests to include other financial
firms such as asset managers.
LONDON, Oct 20 (Reuters) – British finance minister George
Osborne’s decision to scrap ‘guilty until proven innocent’ rules
for bankers in Britain will help to avoid legal uncertainty and
does not water down the reforms, Britain’s top banking
Deputy Bank of England governor Andrew Bailey told a
parliamentary committee on Tuesday that the banks and their
lawyers “haven’t won.” But he said scrapping the so-called
reverse burden of proof helped to ensure the new regime of
banker accountability could be enforced without possible legal
challenges as to whether the rules breached European human
rights laws on due process.
LONDON, Oct 20 (Reuters) – Banks will have to double the
amount of capital they hold to cover possible default on their
pooled-debt under planned new global rules, they said on
Tuesday, potentially hampering the EU’s drive to boost
market-based financing for the economy.
Overall, capital held against trading books will on average
have to quadruple, some 28 banks including Citi, Deutsche
Bank, Goldman, HSBC and JP Morgan
said in a submission to regulators.
LONDON (Reuters) – Britain is scrapping plans that would treat senior bankers as ‘guilty until proven innocent’, easing industry fears that tough new rules will scare top talent away from London and further appeasing a sector bristling against stringent regulation.
The finance ministry said on Thursday it was broadening rules to make individual senior bankers more responsible for failings on their watch to include asset managers, hedge funds and other bank customers as part of a new parliamentary bill.
BRUSSELS, Oct 15 (Reuters) – European Union countries intend
to fast-track a plan to boost capital markets that would give
the utmost priority to measures aimed at revamping
securitisation, the rotating president of the bloc will say on
Thursday during a summit of EU leaders.
The EU financial services chief Jonathan Hill announced a
far-reaching plan at the end of September to put in place the
building blocks of a “capital markets union” (CMU) by 2019 in an
effort to revive sluggish economic growth.
LONDON, Oct 15 (Reuters) – Britain on Thursday announced it
was scrapping plans that would treat senior bankers as ‘guilty
until proven innocent’, in a move likely to concern regulators
but ease industry fears that tough new rules will scare top
talent away from London.
The finance ministry said that as part of a new bill being
launched in parliament, rules to make individual senior bankers
more responsible for failings on their watch would be broadened
out to cover the entire financial sector.
LONDON (Reuters) – The government on Thursday announced it was scrapping plans that would treat senior bankers as ‘guilty until proven innocent’, in a move likely to infuriate regulators but ease industry fears that tough new rules will scare top talent away from London.
The Treasury said that as part of a new bill being launched in parliament, rules to make individual senior bankers more responsible for failings on their watch would be broadened out to cover the entire financial sector.