LONDON (Reuters) – The “bogeymen” of derivatives and securitized debt, blamed for deepening the financial crisis, may escape a new euro zone transactions tax as policymakers fear harming funding for companies and the economy, a document seen by Reuters showed.
The 11 euro zone countries currently discussing the tax, which include France and Germany but not Britain, are meeting on Thursday to hammer out a revised proposal for the tax, which will make banks repay some of the public money that kept them going during the 2007-09 financial crisis.
LONDON, Jan 15 (Reuters) – Sweeping revisions to EU
securities trading law agreed late on Tuesday mark the latest
step in efforts to avert a repeat of the financial crisis,
ushering in a new market landscape with major implications for
banks and other participants.
Some were quick to complain that attempts to increase the
transparency of trading in derivatives, currently carried out
over the counter (OTC) or away from official exchanges, would be
seriously detrimental to that market.
LONDON (Reuters) – Curbs on commodity speculation and ultra-fast share trading will be introduced across the European Union (EU) under an agreement reached on Tuesday on a broad reform of securities markets.
The measures will be implemented by the end of 2016 and aim to plug gaps highlighted by the 2007 to 2009 financial crisis, imposing tighter controls on the financial markets and catching up with advances in trading technology.
LONDON, Jan 14 (Reuters) – Curbs on commodity speculation
and ultra-fast share trading would be introduced across the
European Union (EU) if a broad reform of securities markets is
agreed later on Tuesday.
The measures aim to plug gaps highlighted by the 2007-09
financial crisis, imposing tighter controls on the financial
markets and catching up with advances in trading technology.
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.
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.
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.
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
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.
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.
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.