Regulation Correspondent, Europe
Huw's Feed
Jul 16, 2013

Regulators spell out fine print of big bank rescues

LONDON (Reuters) – The world’s top banks must spell out what would trigger capital raising and other steps to survive a crisis without needing taxpayer money, a global regulatory body said on Tuesday.

The Financial Stability Board (FSB) published final guidance for lenders and supervisors listing “triggers” that would force a bank to consider action to shore up its capital, such as writing down its bonds.

Jul 15, 2013

More British bankers earn 1 million euros than in rest of EU: study

LONDON (Reuters) – More bankers in Britain earned 1 million euros ($1.3 million) in 2011 than in the rest of the European Union combined and would easily bust a planned cap on bonuses, figures from the bloc’s banking regulator showed on Monday.

Publishing figures on bank pay for the first time, the European Banking Authority (EBA) said that 2,436 bankers based in the UK pocketed 1 million euros or more in 2011.

Jul 15, 2013

Settlement houses team up to streamline Europe’s funding market

LONDON, July 15 (Reuters) – Two long-standing rivals
Euroclear and Deutsche Boerse are to work together to
help improve the supply of short-term funding for banks, an
important step towards a Europe-wide capital market and to boost
lending.

Brussels-based Euroclear and Deutsche Boerse’s Clearstream
and Eurex Clearing agreed on Monday to pool their highly-rated
government bonds and similar assets to create an easily
accessible supply of collateral that banks use to get short-term
funding in the financial markets.

Jul 15, 2013

More UK bankers earn 1 million euros than in rest of EU: study

LONDON (Reuters) – More bankers in Britain earned 1 million euros in 2011 than in the rest of the European Union combined, and would easily bust a planned cap on bonuses, the bloc’s banking regulator said on Monday.

Publishing figures on bank pay for the first time, the European Banking Authority (EBA) said 2,436 bankers based in the UK pocketed 1 million euros or more in 2011.

Jul 15, 2013

More British bankers earn 1 mln stg than in rest of EU-study

LONDON, July 15 (Reuters) – More bankers in Britain earned 1
million euros ($1.3 million) in 2011 than in the rest of the
European Union combined, and would easily bust a planned cap on
bonuses, the bloc’s banking regulator said on Monday.

Publishing figures on bank pay for the first time, the
European Banking Authority (EBA) said 2,436 bankers based in the
UK pocketed 1 million euros or more in 2011.

Jul 12, 2013

EU’s Barnier says UK won’t get veto on rules

LONDON, July 12 (Reuters) – The European Union’s financial
services chief intensified criticism of Britain’s push for an
effective veto on EU rulemaking, saying it would cripple a
market for nearly half the country’s exports.

Michel Barnier urged Britain, which plans a referendum on
its membership of the EU in 2017, to stay in the bloc as a “pick
and mix” single market is not possible.

Jul 10, 2013

FCA says suspicious share moves hit record low

LONDON (Reuters) – The Financial Conduct Authority (FCA) said suspicious share price moves ahead of mergers fell to a record low following its crackdown on market abuse.

The FCA, launched in April to take a harder line on financial crime, said on Wednesday that 14.9 percent of mergers in 2012 were preceded by unusual market moves two days before the announcement.

Jul 10, 2013

UK watchdog says suspicious share moves hit record low

LONDON, July 10 (Reuters) – Britain’s Financial Conduct
Authority (FCA) said suspicious share price moves ahead of
mergers fell to a record low following its crackdown on market
abuse.

The FCA, launched in April to take a harder line on
financial crime, said on Wednesday that 14.9 percent of mergers
in 2012 were preceded by unusual market moves two days before
the announcement.

Jul 9, 2013

UK’s Prudential urges caution on EU capital rules

LONDON, July 9 (Reuters) – Getting new European Union
solvency rules for insurers wrong could hinder the flow of
capital in the region and crimp economic growth, a top UK
insurer said on Tuesday.

EU states and lawmakers are due this month to restart
negotiations to finalise the long-delayed Solvency II rules to
make sure insurers hold enough capital to stay stable and cover
their policy commitments.

Jul 5, 2013

Banks may have to hold even more capital to cover risk

LONDON, July 5 (Reuters) – Banks may have to hold yet more
capital after a study showed wide variations in how lenders
calculate risks on their books, global regulators said in their
latest bid to restore trust in the tarnished sector.

Though new rules demand that 7 percent of capital is set
aside as a protective cushion, a bank can inflate this health
benchmark by as much as 2 percentage points, depending on the
risk model used, the Basel Committee on Banking Supervision said
on Friday.

    • 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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