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Gfma : News on the global financial markets

19/12/2011 GFMA
  • Other News

Talks reportedly progress on Greek debt swap deal
Reuters (16 Dec.)

Barclays Capital named IFR's 2011 Bank of the Year
International Financing Review (18 Dec.)

  Regulatory Roundup   
   

Basel Committee rejects use of consolidation method
The Basel Committee on Banking Supervision said it would not allow banks to increase their capital using the consolidation method, an alternative way to calculate capital. Financial Times (tiered subscription model)(16 Dec.)

FSA proposes tougher lending standards for mortgages
The Financial Services Authority has proposed tightening mortgage lending standards to help prevent banks from returning to risky practices that contributed to the global financial crisis. "While the excesses of the pre-crisis period have largely disappeared from the current market, it is important to ensure that better practice endures in future when memories of the crisis recede," said Adair Turner, chairman of the FSA. Bloomberg(19 Dec.), Bloomberg(19 Dec.), The Wall Street Journal/Dow Jones Newswires(18 Dec.), The Telegraph (London)(18 Dec.)

  • Other News

Committee supports holding UK bank execs liable for bad decisions
Financial Times (tiered subscription model) (19 Dec.)

Stark discusses reasons for surprise resignation from ECB
The Washington Post/The Associated Press (18 Dec.)

  Spotlight on China   
   

China opens more channels for foreign investors
China will allow foreign investors holding renminbi offshore to use the money to buy equities on the mainland. The decision will encourage more international use of the currency. Financial Times (tiered subscription model)(18 Dec.)