LONDON, March 28 (Reuters) – Two U.S. operators are set to
go head-to-head in the European Union to record derivatives
trades, hoping to cash in on new rules to make markets safer and
more transparent.

Atlanta-based IntercontinentalExchange said on
Thursday it has applied to EU markets regulator ESMA for
approval to operate a trade repository in the 27-country bloc.

LONDON (Reuters) – Britain’s banks must raise 25 billion pounds in extra capital by December to absorb possible future losses and sustain lending, the Bank of England’s Financial Policy Committee said on Wednesday.

The FPC said their immediate objective should be to achieve a core tier 1 capital ratio of at least 7 percent of their risk-weighted assets by the end of 2013, based on global Basel III definitions.

LONDON, March 27 (Reuters) – Britain’s banks must raise 25
billion pounds ($37.89 billion) in extra capital by December to
absorb possible future losses and sustain lending, the Bank of
England’s Financial Policy Committee said on Wednesday.

The FPC said their immediate objective should be to achieve
a core tier 1 capital ratio of at least 7 percent of their
risk-weighted assets by the end of 2013, based on global Basel
III definitions.

LONDON (Reuters) – Britain’s banks discover on Wednesday how much extra capital they need to keep regulators happy when the outcome of an inquiry into their financial health is revealed.

The Bank of England will release the capital requirements on Wednesday morning.

The BOE’s Financial Policy Committee, tasked with spotting system-wide risks, said in November that the shortfall could be anywhere between 24 billion and 60 billion pounds. Analysts expect the final number to be around the middle of that range.

LONDON, March 27 (Reuters) – Britain’s banks discover on
Wednesday how much extra capital they need to keep regulators
happy when the outcome of an inquiry into their financial health
is revealed.

The Bank of England will release the capital requirements on
Wednesday morning.

The BOE’s Financial Policy Committee, tasked with spotting
system-wide risks, said in November that the shortfall could be
anywhere between 24 billion and 60 billion pounds ($91 billion).
Analysts expect the final number to be around the middle of that
range.

LONDON, March 26 (Reuters) – Global regulators have proposed
tougher rules from 2019 to stop big banks from building a level
of risk on their books that would make them vulnerable if a
major customer goes bust.

In an attempt to gain transparency on bank assets and
facilitate speedy action from regulators in the event of a
crisis, the global Basel Committee on Banking Supervision is
proposing much tougher rules on banks’ exposure to other banks.

LONDON (Reuters) – Start-up banks in Britain won’t need as much capital as their established rivals from April, the Financial Services Authority (FSA) said in a policy move to boost competition.

Under pressure from MPs to increase choice in a sector dominated by four banks, the FSA unveiled sweeping changes to authorise new entrants within six months, a process that takes a year or more at present.

LONDON, March 26 (Reuters) – Start-up banks in Britain won’t
need as much capital as their established rivals from April,
Britain’s Financial Services Authority (FSA) said in a policy
move to boost competition.

Under pressure from lawmakers to increase choice in a sector
dominated by four banks, the FSA unveiled sweeping changes to
authorise new entrants within six months, a process that takes a
year or more at present.

LONDON (Reuters) – Banks’ participation in compiling the Libor benchmark interest rate that was at the centre of a fixing scandal last year will remain voluntary when new rules come into force.

Britain’s financial watchdog wants to restore credibility to Libor, a benchmark used to price products from home loans to credit cards worth $300 trillion globally, after some banks admitted to rigging it.

LONDON, March 25 (Reuters) – Banks’ participation in
compiling the Libor benchmark interest rate that was at the
centre of a fixing scandal last year will remain voluntary when
new rules come into force.

Britain’s financial watchdog wants to restore credibility to
Libor, a benchmark used to price products from home loans to
credit cards worth $300 trillion globally, after some banks
admitted to rigging it.