Regulation Correspondent, Europe
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Jan 13, 2014

Europe banks cheer easing in leverage rules, shares rally

LONDON (Reuters) – Deutsche Bank (DBKGn.DE: Quote, Profile, Research, Stock Buzz) and Barclays (BARC.L: Quote, Profile, Research, Stock Buzz) led European bank stocks on Monday to their highest for nearly three years after regulators watered down new rules aimed at strengthening banks but which could have limited their ability to lend.

Sunday’s decision by the world’s top central bankers was aimed at trying to avoid restricting financing for the global economy, and was seen as a positive for banks, especially those with big investment banking arms.

Jan 12, 2014

Regulators ease new bank rule on leverage to aid economy

LONDON (Reuters) – Global banking regulators agreed on Sunday to ease the way a new rule, meant to rein in risky balance sheets from 2018, is compiled to try to avoid crimping financing for the world’s economy.

Sunday’s decisions were the latest sign of how regulators have become more willing to accommodate banks as the focus switches to helping economies recover.

Jan 10, 2014

Regulators to ease bank rule to help economic recovery

LONDON (Reuters) – Global regulators will make it easier for lenders to feed credit to the economy by relaxing a new rule on Sunday designed to limit risk on banks balance sheets, regulatory and banking industry sources said.

The rule is among the final elements of a global accord on bank capital, known as Basel III, which forms the world’s core regulatory response to the 2007-09 financial crisis that saw undercapitalized lenders being rescued by taxpayers.

Jan 9, 2014

EU plans for trading rules widen global gap in bank regulations

LONDON, Jan 9 (Reuters) – Banks were pleased this week by
news that Europe would impose less-restrictive rules on trading
than the United States, but the announcement proves that global
regulations are likely to remain inconsistent despite pledges to
unify them.

At the height of the financial crisis in 2009, world leaders
pledged at a G20 summit to coordinate rulemaking. But with a
torrent of regulation since then, countries have adopted their
own approaches from caps on bankers’ bonuses to capital rules.

Jan 7, 2014

FCA says Co-op Bank chair appointment ‘not a mistake’

LONDON (Reuters) – Britain’s financial watchdog said it had no regrets about approving the appointment of Paul Flowers to chair the Co-operative Bank in 2010.

Last year the bank fell under control of investors, including U.S. hedge funds, after a 1.5 billion pound capital shortfall was exposed.

Jan 7, 2014

UK watchdog says Co-op Bank chair appointment “not a mistake”

LONDON, Jan 7 (Reuters) – Britain’s financial watchdog said
it had no regrets about approving the appointment of Paul
Flowers to chair the Co-operative Bank in 2010.

Last year the bank fell under control of investors,
including U.S. hedge funds, after a 1.5 billion pound ($2.5
billion) capital shortfall was exposed.

Jan 6, 2014

EU bank trading plan stops short of U.S. Volcker Rule

LONDON, Jan 6 (Reuters) – Banks in the European Union face
limits on taking market bets with their own money under a draft
EU proposal that represents a central plank of attempts to
prevent a repeat of the financial crisis of 2007 to 2009.

Policymakers want to rein in excessive trading risks in the
EU banking sector, whose assets total some 43 trillion euros
($59 trillion), that could threaten depositors if trades go
wrong and potentially put taxpayers on the hook in a rescue.

Dec 20, 2013

Path to a stronger financial system still strewn with dangers

LONDON, Dec 20 (Reuters) – “What a week”, tweeted European
Union financial services chief Michel Barnier on Thursday after
securing an agreement on how to wind up failed banks without
making the region’s taxpayers foot the bill.

The deal, hammered out after months of characteristic
wrangling, brings Europe a step closer to the banking union seen
as vital to avoid another contagious financial crisis and offers
some Christmas cheer to policymakers needing some victories to
present to recession-weary electorates.

Dec 20, 2013

EU banks watchdog says lenders ahead of liquidity rule

LONDON, Dec 20 (Reuters) – The European Union’s top banks
hold on average bigger cash-like buffers than required though
some specialised lenders should get some leeway, the bloc’s
banking watchdog said on Friday.

Banks will have to hold a so-called liquidity buffer made up
of top quality assets akin to cash, such as government bonds,
that can be sold easily so that lenders can withstand short-term
shocks unaided by taxpayers.

Dec 20, 2013

Accountants Grant Thornton says new EU rules spurring competition

LONDON, Dec 20 (Reuters) – European Union rules agreed this
week to increase competition in accounting are already being
felt two years before they take effect, accountants Grant
Thornton International said.

The EU’s new law from 2016 will force 35,000 companies
across the 28-country bloc to switch accountants about every ten
years to avoid overly cosy-relationships.

    • About Huw

      "Huw is based in London and covers European regulatory issues and global rulemaking bodies such as the G20, Financial Stability Board, IOSCO, IASB and the Basel Committee. He has covered EU regulation in Brussels, the emergence pan-European stock markets, and has also been a Wall Street reporter in New York."
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