The Financial Regulation Forum
Banking
Update on UK Independent Commission on Banking
Sir John Vickers, chairman of the UK government-appointed Independent Commission on Banking, gave in a speech at the London Business School his clearest indication yet of the panel’s thinking on how dramatically Britain’s banking structures should be overhauled to make them safer. Sir John outlined the logic of ring-fencing the different activities of big banks [...]
The UK coalition government key policy plans published
The UK government has published its key policy plans, covering areas like political reform, public health, schools and education, Home Information Packs, tackling the deficit and reform of the banking system. The UK Government plan for banking: In recent years, we have seen a massive financial meltdown due to over-lending, over-borrowing and poor regulation. The [...]
The Lehman report
The 2,200-page report into Lehman Brothers’ downfall by its court-appointed bankruptcy examiner may do more to clean up finance than any number of new regulations. It paints a remarkably detailed, and damning, picture of Dick Fuld, Lehman’s ex-boss, and the executives around him. Their spectacularly ill-advised strategy was to take on lots more risk in [...]
NY Fed may toughen funding standards
The Federal Reserve today took a step toward improving the plumbing of the short-term funding markets for banks and securities dealers that locked up during the heat of the financial crisis. The Federal Reserve Bank of New York has set up a task force of Wall Street banks to figure out how to make this [...]
Obama: Banks have a duty to take “extraordinary” steps
President Barack Obama told executives from some of the nation’s largest banks yesterday they have a duty to take “extraordinary” steps to boost lending and help the US economy after getting a taxpayer bailout. Financial institutions were rescued from a crisis “largely of their own making,” he said, and now must help homeowners and small [...]
Challenge bank chief executives
Powerful chief executives who are left unchallenged are a major source of risk and should be removed, says the Walker Report Just as Royal Bank of Scotland was hitting the rocks last year, the bank’s then chairman, Sir Tom McKillop, angrily insisted there were “no patsies” on the board. Certainly, high-profile names such as Peter [...]
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