The Financial Regulation Forum
Bank regulation
World’s top banks fighting regulation
07 Sep. Top executives from some of the world’s leading banks are due to gather for a conference in Frankfurt later this week to try to forestall what they see as overly harsh regulation brought on by the global financial crisis. Existing rules failed to ensure that banks held enough capital and liquidity to withstand [...]
Snippet: Unions protest about Wall Street
30 Apr. As the Senate began debate on a financial regulation bill, thousands of union members pressed for higher taxes on the nation’s banks and a bigger jobs program in a rally in Lower Manhattan. The labor march near Wall Street, joined by religious and community groups, aimed to change the national discussion on banks [...]
Snippet: Gordon Brown admits banks needed more regulation
14 Apr. Gordon Brown admitted he should have regulated the British banks more than he did, and said he did not do so due to lobbying by the City. Brown has previously blamed the scale of the recession mainly, if not exclusively, on the international banking crisis, and the refusal of other countries to agree [...]
Brown hails move on global bank tax
Gordon Brown on Sunday said the large economies were close to agreeing a global tax on banks that would cost the financial sector billions of pounds a year but played down expectations that a deal could be struck at the next Group of 20 meeting in June. The UK prime minister, who held talks with [...]
Heading off the next financial crisis – why we need financial regulation
A public good is something that the free market tends not to provide on its own, to the detriment of society. Pollution laws and police departments are classic examples. In the case of finance — and of the crisis of the past two years — this missing good has been strong regulation. A weak system [...]
‘Radical’ action needed in UK banking system
There are demands for a “radical” shake-up of the UK banking system to protect taxpayers from having to cover the cost of any future bail-outs. MPs called on ministers not to rule out the break-up of “too-big-to-fail” banks in reforms of the sector. The Government is against splitting up major players, arguing that both “narrow” [...]
Basel: Report of the Cross-border Bank Resolution Group
The Basel Committee on Banking Supervision has issued its final Report and Recommendations of the Cross-border Bank Resolution Group. Nout Wellink, Chairman of the Basel Committee and President of the Netherlands Bank, noted that “the resolution of a cross-border bank is a complex and multidimensional process and the financial crisis exposed gaps in intervention techniques [...]
Snippet: The Fed: Don’t take away our small banks
21 Mar. The Fed is waging a public campaign to convince lawmakers that its long-standing authority to regulate banks around the country — including small and midsize ones — is integral to keeping the central bank attuned what is going on across the US economy. Bernanke articulated that message on Saturday in a speech to [...]
Snippet: More studies?
17 Mar. When in doubt, conduct a study. That, in short, is the regimen prescribed by both the House and the Senate bills proposing a regulatory overhaul of the banking and financial industries. Rather than immediately putting in place regulatory fixes for some of the problems that contributed to the financial crisis, the two bills [...]
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