Spencer Anderson is a senior report at IFR on the people and markets desk. Since joining in 2011 he has written extensively on banking regulation, tax issues and capital markets. He was previously with the Financial Times.
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The Basel Committee on Banking Standards looks set to overhaul the rules on how banks calculate operational risk capital. The move is expected to simplify the calculation, but could also result in banks having to build up more capital.
Investment banks face the difficult choice of cutting the overall pay packages of their most senior bankers or swallowing a big increase in their fixed costs after the European Banking Authority ruled that discretionary allowance payments breached bonus rules in the region.
UniCredit has sold a €1.9bn portfolio of non-performing loans to private equity firm AnaCap Financial Partners in a transaction bankers say bodes well for Italian banks’ ability to deal with the outcome of the European Central Bank’s asset quality review in just over a week.