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Sunday, 22 October 2017

Huw Jones' s stories

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  • MiFID II rules slammed as too costly and invasive

    People & Markets | 20 October 2017

    A German banking lobby group said last week that new European regulations aimed at protecting consumers were too costly and too invasive.

  • US, EU reach preliminary deal on swaps trading under MiFID II

    Ticker | 13 October 2017

    US and European regulators said they had reached a preliminary deal on Friday to recognise each others’ derivatives rules, a critical development that should avert any cross-border trading disruptions.

  • Regulators near Basel capital deal

    People & Markets | 13 October 2017

    Global banking regulators are close to a final deal on capital rules that aim to ensure banks can withstand financial shocks, with Europe and the United States set to compromise on a major sticking point, banking and regulatory sources said last week.

  • UK banks must find £4bn of bail-in debt by 2022

    People & Markets | 06 October 2017

    Banks operating in Britain must by 2022 find a net £4bn (US$5.3bn) of debt that can help a bank if it hits trouble, to comply with rules aimed at shielding taxpayers.

  • Bank of England

    Bank of England asks banks to hold more capital on consumer loan risks

    Ticker | 25 September 2017

    (Reuters) British lenders need to hold around an extra £10bn in capital to guard against increased risks from rapidly rising unsecured consumer lending, the Bank of England said on Monday.

  • Foreign banks face new costly EU holding company set-up

    People & Markets | 08 September 2017

    Nineteen foreign banks in the European Union will need to set up new holding companies so that regulators can scrutinise them more closely, an EU discussion paper says, mirroring steps taken by the United States.

  • A worker adjusts and cleans the logo of the European Commission at the entrance of the Berlaymont building

    Foreign banks face new EU set-up to allow more scrutiny

    Ticker | 05 September 2017

    (Reuters) Nineteen foreign banks in the European Union will need to set up new holding companies so that regulators can scrutinise them more closely, an EU discussion paper says, mirroring steps taken by the United States.

  • WIND-DOWN RISK

    People & Markets | 02 June 2017

    One of Europe’s top bank watchdogs has warned EU officials that Spain’s Banco Popular may need to be wound down if it fails to find a buyer, an EU official told Reuters. Elke Koenig, who chairs an EU body that winds down troubled banks, recently issued an “early warning”, the official said.

  • Basel IV coming soon

    People & Markets | 26 May 2017

    Global regulators will soon finalise a suite of rules to ensure banks across the world hold enough capital to withstand rocky markets without taxpayer aid, one of their top officials said last week.

  • EU wants capital markets alternative to London

    People & Markets | 19 May 2017

    Brexit has forced the European Union to rethink its flagship capital markets union project and urgently look for ways to create an alternative financial market to London, according to a draft EU document.

  • Carney calls for UK-EU bank rules pact after Brexit

    People & Markets | 07 April 2017

    Bank of England Governor Mark Carney called last week for Britain and the European Union to recognise each others’ bank rules after Brexit or risk a potentially damaging hit to financial services across Europe.

  • LSE scuppers Deutsche Boerse merger hopes by rejecting EU demand

    Ticker | 27 February 2017

    The London Stock Exchange has all but ended a planned merger with Deutsche Boerse to create Europe’s biggest stock exchange by ruling out a European antitrust demand, saying it has strong prospects alone.

  • ​BoE fines Mitsubishi UFJ units for poor communication

    Ticker | 09 February 2017

    (Reuters) The Bank of England has fined two units of Japanese bank Mitsubishi UFJ Financial Group a record £26.77m for failing to tell the British regulator about a US enforcement case.

  • Banks to Britain: stagger Brexit over years or we could leave

    People & Markets | 02 December 2016

    Britain must negotiate a staggered departure from the European Union over several years or risk banks leaving the country, the biggest banking lobby group will warn the government in coming weeks, according to sources familiar with the matter.

  • Logo of the UK Prudential Regulation Authority

    RBS to bolster capital after flunking UK stress test

    Ticker | 30 November 2016

    Royal Bank of Scotland must bolster its capital after failing this year’s stress test of British lenders as the state-backed lender faces a big US fine for misconduct and continues to struggle with its turnaround.

  • RBS fails UK bank stress test, must bolster capital

    Ticker | 30 November 2016

    Royal Bank of Scotland must boost its capital buffers after failing this year’s stress test of seven British lenders, the Bank of England said on Wednesday.

  • The Bank of England

    UK banks given extra 2 years to meet bail-in rules

    Ticker | 08 November 2016

    The Bank of England said Britain’s lenders would be given an extra two years until 2022 to build up sufficient funds to ensure they do not need to rely on taxpayer bailouts if they go under.

  • UK reassures on finance sector stability during Brexit

    People & Markets | 21 October 2016

    Britain will do whatever is needed to ensure the stability of the financial services sector and markets during the process of negotiating its exit from the European Union, Brexit minister David Davis said.

  • London edges out NY, but maybe not for long

    People & Markets | 30 September 2016

    London’s role as the world’s top financial centre could be under threat as the implications of Britain leaving the European Union start to sink in.

  • Canary Wharf in London

    Banks step up effort to avoid damaging Brexit

    People & Markets | 09 September 2016

    Banks and financial firms in the City of London have stepped up their efforts to influence the terms of Britain’s exit from the European Union and ensure their interests are heard.

  • EU bank watchdog seeks to clarify capital guidance

    People & Markets | 01 July 2016

    This year’s European Union bank stress tests should not automatically trigger cuts to dividends and bonuses if they reveal capital shortfalls, the bloc’s banking watchdog said last week.

  • EU to soften roll out of bond trading rules

    People & Markets | 24 June 2016

    Stricter European Union rules for corporate bond markets will be phased in gradually to ensure they don’t threaten funding for the economy, a senior EU official said last week.

  • Waiting for ECB impact on mezz

    Brexit risks taking multi-trillion euro trading from London

    Capital City | 01 April 2016

    (Reuters) - If Britons vote to leave the EU, London’s financial centre faces losing one of its top money spinners - the trade in trillions of euros in derivatives - and the European Central Bank will be pushing hard for the business to move onto its patch.

  • Regulators rein in banks' use of internal capital models

    People & Markets | 24 March 2016

    The world’s largest banks will have less discretion over how much capital to hold against loans turning sour, global regulators proposed last week.

  • Serious Fraud Office sign

    UK fraud office closes probe into FX market

    People & Markets | 18 March 2016

    Britain’s fraud watchdog has ended an investigation into possible foreign exchange market rigging, saying it did not have enough evidence to secure convictions, in a further setback to its efforts to prosecute wrongdoers in financial markets.

  • Logo of the Financial Conduct Authority (FCA)

    UK watchdog paper says bank rules have not hit bond market liquidity

    Ticker | 17 March 2016

    (Reuters) - The ability of investors to buy and sell corporate bonds has actually improved, not declined, in recent years, a paper published by Britain’s markets regulator said on Thursday which undermines calls from banks for a regulatory pushback.

  • The Bank of England

    BoE says regulators may lighten capital burden on derivatives

    Ticker | 16 March 2016

    Global regulators will propose ways that could ease capital requirements for banks that clear large numbers of financial derivatives, a Bank of England official said on Tuesday.

  • Serious Fraud Office sign

    UK fraud office closes probe into FX market

    Ticker | 15 March 2016

    Britain’s financial watchdog has closed down a probe into possible foreign exchange market fraud, saying it did not have enough evidence to secure convictions, in a fresh blow to its efforts to prosecute wrongdoers.

  • Bond market liquidity a concern, watchdog says

    People & Markets | 04 March 2016

    Bond markets may not be able to cope with the stress of many investors trying to cash in at the same time but data remain too patchy to support new rules, a global financial watchdog said.

  • A sign for Bank Street in Canary Wharf

    UK regulators say won't apply EU bonus cap to all banks

    Ticker | 29 February 2016

    (Reuters) - British financial regulators have said they won’t apply the European Union’s cap on banker bonuses to smaller lenders because they pose fewer risks to the financial system.

  • UK fines former JP Morgan manager for 'London Whale' failings

    People & Markets | 12 February 2016

    Britain’s financial watchdog has slapped a £793,000 fine on a former senior executive at JP Morgan, saying he failed to be “open and co-operative” over the US$6.2bn loss racked up in the “London Whale” trading scandal.

  • JP Morgan offices in Canary Wharf

    UK watchdog fines ex-JP Morgan banker over "London Whale" trades

    Capital City | 09 February 2016

    Britain’s financial watchdog has fined a former senior official at US bank JP Morgan £793,000 (US$1.15m) for failing to be “open and co-operative” over the US$6.2bn losses racked up in the “London Whale” trading scandal.

  • European Union flag

    Stalled EU bank trading plan could end up on scrap heap

    Capital City | 09 February 2016

    (Reuters) - A European Union draft law to curb risky trading at banks could be scrapped unless there is consensus on it among the main parties, a senior European Parliament member said on Tuesday.

  • UK bank watchdog slammed for dropping culture probe

    People & Markets | 22 January 2016

    Britain’s financial watchdog looks like a “road accident” after a botched decision to scrap a review into banking culture, a senior lawmaker said last week.

  • The Bank for International Settlements (BIS) in Basel

    Tougher capital rules add to pressure on trading books

    People & Markets | 15 January 2016

    Some of the world’s biggest banks will have to hold a combined US$77bn in extra capital from 2019 under new trading book rules, though the changes are less harsh than in previous plans set out by regulators.

  • A sign is seen beside the entrance of the Bank for International Settlements (BIS) in Basel

    Tougher rules on trading books target global banks

    Capital City | 14 January 2016

    (Reuters) - Some of the world’s biggest banks will have to set aside a combined US$77bn in extra capital from 2019 under new trading book rules unveiled on Thursday by global regulators hoping to prevent another financial crisis.

  • Mario Draghi

    Global regulators agree two-tier leverage ratio for banks

    Capital City | 11 January 2016

    (Reuters) - The world’s top 30 banks face a higher minimum requirement for their broadest measure of capital, global regulators said on Monday as they flagged a two-tier leverage ratio regime for the first time.

  • Logo of the European Banking Authority

    EU watchdog backs lower capital charges on some synthetic securitised debt

    Capital City | 18 December 2015

    (Reuters) - The European Union’s banking watchdog has backed an amendment to a draft law to encourage the use of a more complex version of securitisation for funding companies and freeing up bank balance sheets to lend more.

  • The Bank of England is seen in the City of London

    BoE gives banks until 2020 to build crisis funds

    People & Markets | 11 December 2015

    Britain’s banks will have until 2020 to build crisis funds to shield taxpayers from having to bail out failed lenders again, the Bank of England said on Friday.

  • An European Union flag flutters outside of the European Parliament in Brussels

    EU extends capital grace period for banks using US clearers

    Capital City | 11 December 2015

    (Reuters) - The European Union’s executive body has postponed for the fourth time imposing tougher capital requirements on banks from the EU that pass derivatives through non-EU clearing houses.

  • The Bank of England is seen in the City of London

    Bank of England gives banks until 2020 to build crisis funds

    Capital City | 11 December 2015

    (Reuters) - Britain’s banks will have until 2020 to build crisis funds to shield taxpayers from having to bail out failed lenders again, the Bank of England (BoE) said on Friday.

  • Bank of England governor and Financial Stability Board Chairman Mark Carney

    Bank of England's Carney says UK banks' job almost done on capital

    Capital City | 01 December 2015

    (Reuters) - British banks including HSBC and Lloyds have almost completed the job of building up their defences against a future financial crisis, Bank of England Governor Mark Carney said on Tuesday as he set out details of new capital requirements.

  • Barclays bank logo

    UK watchdog fines Barclays for failing to minimise financial crime risks

    Capital City | 26 November 2015

    (Reuters) - Britain’s markets watchdog said on Thursday it has fined Barclays 72 million pounds ($108.6 million) for failing to minimise the risk that it might be used to aid financial crime.

  • European Union flag

    EU eyes tweaks in issuance rules to improve market liquidity

    Bonds | 20 November 2015

    European Union rules for companies raising funds on markets will be changed in a bid to increase liquidity in corporate bond markets, according to a draft EU law seen by Reuters.

  • Bank of England

    BoE says will map out move to Libor alternative in 2016

    Capital City | 28 October 2015

    (Reuters) - The Bank of England will spell out next year how markets can migrate to a new “risk-free” interest rate benchmark after banks were fined billions of dollars for trying to rig Libor, the existing benchmark, a senior BoE official said on Wednesday.

  • A sign for Bank Street is seen in London

    UK softens demands on senior bankers, widens scope of regulation

    Capital City | 15 October 2015

    (Reuters) - Britain on Thursday announced it was scrapping plans that would treat senior bankers as ‘guilty until proven innocent’, in a move likely to concern regulators but ease industry fears that tough new rules will scare top talent away from London.

  • EU, Commission

    ​EU to ease capital rules for banks

    People & Markets | 02 October 2015

    The European Union will ease capital rules it has imposed on banks and insurers since the financial crisis to help markets raise more funds for reviving sluggish economic growth.

  • The Bank of England

    Bank of England creates capital buffer for banks to absorb losses

    Capital City | 29 July 2015

    (Reuters) - The Bank of England has made changes to the way banks hold capital above the mandatory minimum in an effort to increase transparency and better absorb losses in the event of a financial shock, such as a housing market crash.

  • Wheatley

    Head of UK financial watchdog quits early

    Capital City | 17 July 2015

    (Reuters) - Martin Wheatley will stand down as chief executive of Britain’s Financial Conduct Authority (FCA) after the government said new leadership was needed at the two-year old watchdog.

  • George Osborne

    UK to scale back £8bn bank levy

    People & Markets | 10 July 2015

    Britain will largely replace a levy on bank balance sheets with a surcharge on profits in a move experts said would help quell talk among lenders of moving elsewhere to lighten their regulatory burden.

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