Basel Committee On Banking Supervision News
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Banks may have too much freedom to determine appropriate levels of risk weighted capital under international banking rules, said Stefan Ingves, governor of Sweden’s central bank.
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HSBC Holdings Plc, Europe’s largest bank, will eliminate as many as 14,000 more jobs as Chief Executive Officer Stuart Gulliver set out plans to cut an additional $3 billion of costs as he tries to revive profitability.
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Almost six years after the start of the worst financial crisis since the Great Depression, bond issuers are again exploiting credit ratings by seeking firms that will provide high grades on debt backed by assets from auto loans to office buildings considered inappropriate by rivals.
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HSBC Holdings Plc, Europe’s largest bank, posted a bigger-than-estimated increase in first-quarter profit after provisions for bad loans shrank, stirring speculation the lender may step up its cost-reduction targets.
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Australia’s banking watchdog will stick with its timetable to implement new liquidity rules and won’t widen the range of permissible assets, declining to follow global peers who have softened their stance.
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The tiny Persian Gulf nation of Qatar controls vast gas and oil deposits that feed billions of dollars annually into the state Treasury. Its petroleum riches make it the wealthiest nation per capita in the world, according to the International Monetary Fund.
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Lloyds Banking Group Plc, Britain’s biggest mortgage lender, posted a near-threefold increase in first-quarter profit as impairments for souring loans dropped by more than analysts estimated.
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Credit Suisse Group AG, the second- biggest Swiss bank, said it’s in advanced discussions on the restructuring of a derivatives transaction the firm used to award more than 5,500 employees part of their 2011 bonuses.
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A former colleague of Federal Reserve Chairman Ben S. Bernanke has given up trying to persuade his fellow central bankers in Sweden to cut interest rates.
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Britain’s new banking regulator has rattled lenders by holding off disclosing how much capital each firm will have to raise after ordering the industry to plug a 25 billion-pound ($38 billion) shortfall by the end of the year, three people with knowledge of the discussions said.
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