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Gfma : News on the global financial markets

09/01/2012 GFMA
  Regulatory Roundup 

FSA's Sants meets with bank execs to reiterate bonus stance
Hector Sants, CEO of the UK Financial Services Authority, is meeting with senior executives at major banks to warn that the regulator will block bonuses if they cannot demonstrate adequate capital levels. "We are vigorously engaging with major UK banks to ensure they comply with [earlier regulatory requirements] to retain capital by reducing distributions such as bonuses," an FSA spokesman said. The Wall Street Journal(06 Jan.)

ECB can further refinance banks, official says
Christian Noyer, a board member at the European Central Bank, said the central bank has the ability to refinance euro-zone banks. "We are only limited by our will to maintain price stability and avoid inflation," Noyer said. "But in the current situation, we think we can massively refinance banks without risk." The Wall Street Journal(06 Jan.)

Swiss central bank council will introduce control measures
The Swiss National Bank plans to launch control measures in the wake of controversy over currency trades by SNB President Philipp Hildebrand and his wife. The SNB's Bank Council also plans to review recent transactions by key members of the central bank. The council said it will conduct "a comprehensive revision of the regulations and directives on own-account transactions involving financial instruments by members of the enlarged governing board". The Wall Street Journal(09 Jan.)