European Union finance ministers will try to break a deadlock tomorrow on a euro-area bank-failure authority that the European Central Bank says is vital to the bloc’s efforts to prevent future financial crises.
Wall Street’s biggest lobbying groups banded together to sue the Commodity Futures Trading Commission, seeking to curb the overseas reach of its rules and rein in a regulatory barrage by its departing Chairman Gary Gensler.
Denmark’s Economy Ministry said the European Banking Authority signaled it won’t recommend that covered bonds be granted the highest liquidity status, in a blow to the nation’s $530 billion mortgage bond market.
European Union regulators accused the U.S. Commodity Futures Trading Commission of reneging on a trans-Atlantic pact on swaps regulation, saying new curbs on EU- based units of U.S. banks clash with efforts to align rules.
The European Union risks violating international bank-capital standards and its implementing law should face a rigorous review by global regulators, a Swedish member of the Basel Committee on Banking Supervision warned.