Gfma : News on the global financial markets
03/01/2012 GFMADeutsche Boerse-NYSE Euronext saga
continues
The case team at the EU competition authority handling the proposed
merger of Deutsche Boerse and NYSE Euronext is expected to issue a
draft recommendation soon. Many market insiders expect EU officials
to oppose the deal. AdvisorOne.com(02 Jan.), Financial Times (tiered subscription model)(02
Jan.)
Lloyds and former execs face lawsuit over HBOS
takeover
US investors of Lloyds Banking Group filed a lawsuit against the
bank, former Chairman Victor Blank and former CEO Eric Daniels,
saying they were misled about the takeover of HBOS in 2008. The
lawsuit says the executives had a "reckless disregard for the
truth". Reuters(02 Jan.)
- Other News
Virgin Money completes acquisition of
Northern Rock
Reuters (01 Jan.)
|
FSA crackdown forces financial firms to pay
compensation
The UK Financial Services Authority took aim at mistreatment of
retail investors, resulting in major financial firms paying more
than £160 million in compensation last year. Financial Times(tiered subscription model)(02
Jan.)
Germany and France spark battle over chief ECB
economist
Germany sent Joerg Asmussen and France sent Benoit Coeure to join
the European Central Bank's Executive Board, sparking competition
for the position of chief economist. Asmussen, Germany's deputy
finance minister, and Coeure, France's No.2 Treasury official,
succeeded Germany's Juergen Stark and Italy's Lorenzo Bini Smaghi.
Bloomberg(01 Jan.)
- Other News
ECB settled €462 million in government
bonds last week
The Wall Street Journal (02 Jan.)
Indian banks aren't concerned about Basel
III
The Economic Times (India)/Press Trust of India (01 Jan.)
|
Chinese banks replenish capital by issuing
subordinated bonds
Commercial banks in China issued about 330 billion yuan in
subordinated bonds last year to replenish their capital bases, the
Shanghai Securities Journal reported. The country's five major
banks accounted for more than 70% of the amount. Xinhuanet.com (China)(30 Dec.)
|
BBC's Nick Robinson and ESMA Chairman Steven
Maijoor are confirmed to speak at European Market Liquidity
Conference
The European Market Liquidity Conference is a high-profile, unique
event on the European trading-community calendar that attracts
400-plus delegates from the buy and sell side, fixed income and
foreign exchange. The conference is scheduled on 8
Februaryat Grange St Paul's Hotel in
London. The content is designed and driven by market
participants and therefore ensures that debates consist of genuine,
in-depth discussion led by experienced, senior speakers. The
conference programme will explore key changes in market
infrastructure, the impact of regulation and the latest trends in
trading. View the full programme and register.
AFME/ESF and IMN are pleased to announce date and
venue for Global ABS 2012 Conference
The Global ABS 2012 Conference is scheduled 12 to
14 June at Square Brussels Meeting Centre in Brussels. The agenda
will be put together by industry professionals and focus on topics
such as global regulatory changes that affect securitisation,
lending, securities offerings, ratings, trading, clearing and other
major issues, as well as initiatives to improve transparency,
standardisation and investor confidence in the securitisation
sector. In addition, the conference will explore and discuss issues
concerning the state of the securitisation market and the financial
sector as a whole. Speakers and the programme will be announced
soon. Visit the conference website for further details.