Denmark’s government said its proposals from May to ease Basel III liquidity rules will probably prevail when the European Commission reveals its final decision on the matter this month.
The European Union will seek to give regulators the power to impose writedowns on senior unsecured creditors at failing banks as part of measures to prevent taxpayers from footing the bill for saving crisis-hit lenders.
European banks turning to their governments to raise required capital could trigger a downward spiral of declining sovereign-debt prices and further losses for the lenders.
Banks should improve their defenses against losses caused by rogue traders, client fraud and other so-called operational risks, global regulators said.
European Union governments and lawmakers agreed to create new banking, securities and insurance supervisors that will start work on Jan. 1, 2011.
The U.K., defeated in a campaign to derail European Union curbs on banker bonuses, goes to the bloc’s top court tomorrow in a bid to overturn the powers of an EU agency to ban short selling.
A publicity-shy French woman who shepherded her country’s lenders through the dark days of Europe’s debt crisis has become the chief supervisor of euro- area banks.
Capital standards designed to fortify the global financial system are eroding as European officials, beset by a debt crisis, rewrite the regulations and U.S. rulemaking stalls.
"The ECB won't stand behind a clearinghouse based outside of the euro-zone, and it can't be made to do so. It's that simple. This case is just a waste of time, like the previous ones on short-selling and the financial-transactions tax. In fact, it's even clearer than the other two because it's about the single currency, and the U.K. is not in the single currency."
- Karel Lannoo on Jul 08, 2014