Just before sunset on April 10, 2006, a DC-9 jet landed at the international airport in the port city of Ciudad del Carmen, 500 miles east of Mexico City. As soldiers on the ground approached the plane, the crew tried to shoo them away, saying there was a dangerous oil leak. So the troops grew suspicious and searched the jet.
U.S. regulators are discussing expanding their review of bank compensation practices to monitor that pay is “correctly” aligned with risk or long-term incentives, Comptroller of the Currency John Dugan said.
Citigroup Inc. Chairman Richard Parsons, who helped the bank become a behemoth that almost collapsed in the financial crisis and then led its recovery, will be replaced by fellow director Michael O’Neill.
The Basel Committee on Banking Supervision , nearing agreement on how to redefine capital and when to impose borrowing caps on banks worldwide, has left a final decision to its governing board, which meets next week.
Federal Deposit Insurance Corp. Chairman Sheila Bair is opposing a Senate measure that could cut off privileges to banks like Goldman Sachs Group Inc. and JPMorgan Chase & Co. that don’t segregate swaps trading units.
Community banks facing new rules imposed by the Dodd-Frank Act may face an impact similar to a “drug interaction,” where multiple measures aimed at improving health combine to cause a negative outcome, Acting Comptroller of the Currency John Walsh said.