GFMA : News on the global financial markets
22/11/2011 GFMANon-US bank deposits at Fed more than
double to $715 billion
Non-US banks more than doubled their deposits at the
Federal Reserve, from $350 billion to $715 billion, since the end
of last year. Dozens of banks hold a balance of more than $1
billion, according to ICAP. Bloomberg(21 Nov.)
- Other News
Lloyds forms backup plan in
case CEO isn't back by 1 January
The Wall Street Journal (22 Nov.)
|
Austria aims to reinforce banks'
robustness
Austria's banking regulators are working to reinforce
the strength of the nation's biggest banks. Officials hope several
initiatives will prevent the financial institutions from requesting
taxpayer funds to survive Europe's sovereign-debt crisis.
The Wall Street
Journal(21 Nov.), Bloomberg Businessweek(21 Nov.)
ESMA will recommend guidelines for
high-frequency trading
The European Securities Markets Authority plans to
introduce stricter guidelines for high-frequency trading and will
give trading firms and brokers little time to comply.
Financial Times (tiered subscription model)(20
Nov.)
Working paper highlights several
issues with CRD IV
A working paper from Poland's EU presidency outlines
issues with Capital Requirements Directive IV, including aspects of
the countercyclical capital buffer. Some EU members called
for using their own judgment to determine how to calculate a buffer
guide. Risk.net (subscription required)(21 Nov.)
Regulators test UK banks with mock
emergency scenarios
British regulators are testing 87 financial firms,
including Barclays, Lloyds Banking Group and HSBC Holdings, to see
how they would deal with a major cyber-attack and disruptions to
public transportation during the 2012 Olympic Games. "There
are no 'passes' or 'fails'. The exercise is about firms assessing
their business continuity systems and updating them where necessary
and the authorities identifying areas for further attention,"
according to the Financial Services Authority. Reuters(22 Nov.)
- Other News
ECB appears to reject calls
to increase bond purchases
Reuters (21 Nov.)