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Basel Committee outlines potential changes to Basel II
The Basel Committee on Banking Supervision on November 20 outlined possible changes to the Basel II framework, intended to address "fundamental" weaknesses in regulation, supervision and risk management practices that have been highlighted during the…
China likely to abandon 'through-train' investment scheme, says CBRC's Luo
Chinese regulators and government officials will scale back reform of the country's financial services sector due to deep concerns about the unravelling of the developed world's economies, said a senior China Banking Regulatory Commission (CBRC) official…
Investors approve RBS' £19.7 billion capital raising plan
The Royal Bank of Scotland (RBS) gained overwhelming investor support for raising £19.7 billion in preference shares at an extraordinary general meeting yesterday, in which the chairman apologised for the bank's poor financial performance this year.
Better ERM needed to avert crises, says Fed's Cole
An enterprise risk management (ERM) approach is essential in the current crisis, said Roger Cole, director of banking supervision and regulation at the US Federal Reserve Board, yesterday.
Jaime Caruana appointed as BIS general manager
The Bank for International Settlements (BIS) has named Jaime Caruana as general manager. His appointment takes effect from April 2009 and is for a five-year term.
Interbank lending remains stable
Interbank confidence stood firm today after a tumultuous day on the world equity markets.
US CDSs continue to soar as eurozone banks stabilise
The cost of credit protection on US financial institutions continued to rise steeply yesterday as world equity markets suffered significant losses.
HKMA's Genberg dismisses 'decoupling' theory
The idea that increasing inter-regional trade in Asia could offset the impact of the recessions in the US and Europe - the so-called 'decoupling' theory - is ill-founded, said Hans Genberg, executive director of Hong Kong Monetary Authority (HKMA)…
Dinallo backtracks on regulating CDSs
New York State insurance superintendent Eric Dinallo shelved plans to bring a large slice of the credit default swap (CDS) market under the purview of the New York State Insurance Department (NYSID) during a US congressional committee hearing on November…
Demand wanes for central bank liquidity schemes
The appetite among European and US banks to access liquidity schemes provided by central banks has reduced dramatically, according to the latest figures.
Basel Committee outlines supervision strategy
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S&P: AAA RMBS writedowns will be minimal
AAA rated tranches of US subprime residential mortgage-backed securities (RMBS) will be written down by less than 1%, despite heavy losses on the underlying mortgages, rating agency Standard & Poor's predicts.
Contenders queue up for Tarp funds
An increasing number of organisations are applying for the $250 billion Capital Purchase Program (CPP), part of the US government's $700 billion Troubled Asset Relief Program (Tarp).
Second credit-event auction to be held on LCDS
London-based data provider Markit has announced it will hold a credit-event auction on Ontario-based door manufacturer Masonite International, to settle loan credit default swap (LCDS) trades referencing the company.
Ambac to commute $3.5 billion in CDO exposure
Ambac Financial announced on Wednesday that it has arranged a deal with counterparties to close out exposure to four collateralised debt obligations (CDOs) with a cash settlement of $1 billion.
Libor untouched by market turbulence
Interbank confidence has shown no signs of falling today even as global equity markets have plummeted.
US CDS spreads soar, eurozone banks trade wider
The cost of credit protection on US financial institutions rocketed yesterday, while UK and European banks experienced declining market sentiment in early trading today.
CME hires O'Connell as clearing head
CME Group has appointed Michael O'Connell as managing director of its clearing business development, a newly-created role, to help develop the exchange's clearing activities.
Wellink: Banking should be 'shock absorber' for financial system
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G-20 principles spell increased financial regulation
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Ceiops hails Solvency II QIS4 success
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Isda issues Masonite CDS auction terms
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Executive pay reviewed at Barclays, UBS and Goldman
Barclays, UBS and Goldman Sachs have announced moves to halt bonus payouts for top executives in 2008, as huge subprime losses and writedowns have placed compensation policies under increased scrutiny.