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BoE Financial Stability Report

Bank of England Financial Stability Report, June 2013. Executive summary For much of the period since the previous Report, prices of risky assets rose and balance sheets across the financial system strengthened. More recently, however, asset prices have fallen and financial markets have been volatile, reflecting shifting expectations of the path of monetary policy in [...]

Global imbalances and the financial crisis: Link or no link?

31 May. BIS: Global imbalances and the financial crisis. Global current account imbalances have been at the forefront of policy debates over the past few years. Many observers have recently singled them out as a key factor contributing to the global financial crisis. Current account surpluses in several emerging market economies are said to have [...]

Bankers caused the crash and now they strangle recovery

28 May. Instead of lending to small businesses, bankers are lining their own pockets. And yet we look the other way. How hard it is to explain the banks’ effortless escape from any painful punishment or real reform to prevent them crashing the world economy again. Friday’s Financial Times reported the banks have escaped the modest [...]

Barnier hits back at Basel III criticism

28 May. Barnier and Basel III. Michel Barnier, the EU internal market commissioner, Europe’s top financial services policymaker lashed out on Friday at criticism of the way Brussels was implementing new rules designed to improve the safety of the European Union’s banking system. “Europe will implement Basel III,” he insisted. “We have said it before [...]

BoE’s corporate governance under scrutiny

23 May. Corporate governance at BoE. During the past two decades, the Bank of England has been transformed. While it still occupies a cavernous 18th century building in the City of London, designed by Sir John Soane, its functions and responsibilities are barely recognisable from those it discharged as recently as 15 years ago. Most [...]

Protection of stock exchanges

22 May. The difficult choice between nationalism and monopoly. For those who believe that financial exchanges are strategic national assets to be protected from foreign marauders, the past week has been a mixed bag. Driven in part by worries that Canada would lose control of its markets if TMX were to merge with the London [...]

Checking account charges

19 May. The Consumer Financial Protection Bureau, created by Congress last year as part of financial reform, has broad authority to ban unfair or abusive practices in financial products and services. Protecting checking account holders from unreasonable fees and other costly traps should be one of the agency’s first priorities when it opens for business [...]

UK banks face bonus shake-up

19 May. Future bonus and dividend payments by UK banks will depend upon convincing regulators the handouts will not dent capital reserves or undermine sound risk management, the head of the city watchdog has warned. Banks would also be forced to make public detailed information about their holdings that they currently share only with regulators, [...]

Talk to a teller through an ATM

18 May. World’s largest ATM provider unveils an Interactive Teller technology concept on their SelfServ 32 ATMs. NCR is putting the “teller” back in the “automated teller machine,” and helping banks and credit unions extend hours and services in the process. “Consumers cannot always bank during banking hours. They want service at a time and [...]

BoE Financial Policy Committee member Donald Kohn

18 May. Former U.S. Federal Reserve Vice Chairman Donald Kohn gave testimony to parliament’s Treasury Committee on Tuesday, ahead of taking up his post on the Bank of England’s new Financial Policy Committee for bank regulation. Following are highlights: BLAME FOR FINANCIAL CRISIS. “I deeply regret the pain that was caused to millions of people [...]

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