Bank http://www.globalpost.com/taxonomy/term/23614/all en Looser bank buffer rules no panacea for Europe woes http://www.globalpost.com/dispatch/news/thomson-reuters/130107/looser-bank-buffer-rules-no-panacea-europe-woes <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p><body></body></p> <p>* Basel agreement seen giving banks more capacity to lend</p> <p>* But weak economy weighs on credit demand</p> <p>* Uncertain outlook also means banks nervous about lending</p> <p>* Rules changes may have bigger impact in U.S. than Europe</p> <p>By Paul Carrel and Marc Jones</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130107/looser-bank-buffer-rules-no-panacea-europe-woes" target="_blank">read more</a></p> Asset-backed security Bank Business Central banks Economics Entertainment European Central Bank Finance Financial economics Fixed income securities Labor Late-2000s financial crisis Law Person Career Quotation Securitization Structured finance United States housing bubble Thomson Reuters Mon, 07 Jan 2013 17:21:45 +0000 Thomson Reuters 5731375 at http://www.globalpost.com Derivatives scandal drags Monte Paschi into Italy election race http://www.globalpost.com/dispatch/news/thomson-reuters/130123/derivatives-scandal-drags-monte-paschi-italy-election-race <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Bank seen close to centre-left PD party, leading in polls</p> <p>* Rival politicians accuse PD of mismanagement, slam bailout</p> <p>By Silvia Aloisi</p> <p>MILAN, Jan 23 (Reuters) - A scandal over shady derivatives deals bleeding money at Banca Monte dei Paschi di Siena has thrust Italy's third-biggest lender into the country's election campaign and risks embarrassing the centre-left over its ties with the bank.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130123/derivatives-scandal-drags-monte-paschi-italy-election-race" target="_blank">read more</a></p> Bank Business Labor Law Monte dei Paschi di Siena Siena Technology Thomson Reuters Wed, 23 Jan 2013 16:15:04 +0000 Thomson Reuters 5738359 at http://www.globalpost.com British banks face break-up if fail to ring-fence: Osborne http://www.globalpost.com/dispatch/news/afp/130203/british-banks-face-break-if-fail-ring-fence-osborne <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Britain's biggest banks will face being broken up if they fail to ring-fence their retail and investment arms, under draft legislation set to be announced by finance minister George Osborne on Monday.</p> <p>The new law will empower the government and a new banking watchdog to "electrify the ring-fence" if banks refuse to separate high-risk operations from savers' deposits.</p> <p>Launching the Banking Reform Bill, Chancellor of the Exchequer Osborne was due to say that banks will no longer be able to become "too big to fail", forcing the taxpayer to bail them out.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130203/british-banks-face-break-if-fail-ring-fence-osborne" target="_blank">read more</a></p> Bank George Osborne AFP Mon, 04 Feb 2013 01:15:51 +0000 Agence France-Presse 5744913 at http://www.globalpost.com UPDATE 5-UK prepares new law to break up errant banks http://www.globalpost.com/dispatch/news/thomson-reuters/130204/update-1-uk-sets-out-new-law-break-errant-banks <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* New laws will make banks ring-fence retail operations</p> <p>* Break-up threat in place if banks try to flout new laws</p> <p>* Government would make final decision over break-ups</p> <p>* Berlin considering jail for reckless bankers</p> <p>* Will stick to Basel III rules on leverage ratios</p> <p>By Laura Noonan and Matt Scuffham</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130204/update-1-uk-sets-out-new-law-break-errant-banks" target="_blank">read more</a></p> Bank Central bank Early Modern Scotland Economy of the United Kingdom George Osborne Politics Royal Bank of Scotland Group The Royal Bank of Scotland United Kingdom Thomson Reuters Mon, 04 Feb 2013 11:31:07 +0000 Thomson Reuters 5745182 at http://www.globalpost.com Britain issues 'break-up' warning to banks http://www.globalpost.com/dispatch/news/afp/130204/britain-issues-break-up-warning-to-banks <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Britain's banks will be broken up if they fail to radically reform by ring-fencing retail operations from their investment arms to avoid any more state bailouts, finance minister George Osborne warned on Monday.</p> <p>As the government published legislation aimed at significantly altering the landscape of Britain's financial sector, Chancellor of the Exchequer Osborne used a speech to say that "2013 is the year when we re-set our banking system."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/britain-issues-break-up-warning-to-banks" target="_blank">read more</a></p> Bank Economic history Economics AFP Mon, 04 Feb 2013 15:15:29 +0000 Agence France-Presse 5745444 at http://www.globalpost.com Germany gets tough on risky banking http://www.globalpost.com/dispatch/news/afp/130206/germany-gets-tough-risky-banking <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The German government unveiled Wednesday tougher new banking rules which it hopes will help prevent financial crises in the future and make the banks themselves bear more of the responsibility.</p> <p>"We know that the exaggerated de-regulation (of the financial markets in the past) was a mistake," Finance Minister Wolfgang Schaeuble told a news conference to present new banking legislation, which must now be passed by parliament.</p> <p>"We allowed ourselves to be dazzled by technical innovation, new financial products and breathless developments on the financial markets," he said.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130206/germany-gets-tough-risky-banking" target="_blank">read more</a></p> Bank Central banks Frankfurt Technology AFP Wed, 06 Feb 2013 12:45:54 +0000 Agence France-Presse 5747486 at http://www.globalpost.com Monte Paschi struck secret deal over Antonveneta -police http://www.globalpost.com/dispatch/news/thomson-reuters/130208/monte-paschi-struck-secret-deal-over-antonveneta-police <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Silvia Aloisi, Stefano Bernabei and Silvia Ognibene</p> <p>SIENA, Italy, Feb 8 (Reuters) - Monte dei Paschi struck a last-minute, secret deal with Bank of New York that allowed the Italian bank to mislead authorities and smoothed through its acquisition of rival Antonveneta, according to a report by the financial police in Italy.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130208/monte-paschi-struck-secret-deal-over-antonveneta-police" target="_blank">read more</a></p> Antonveneta Bank Business Monte dei Paschi di Siena Thomson Reuters Fri, 08 Feb 2013 23:00:35 +0000 Thomson Reuters 5750653 at http://www.globalpost.com UPDATE 2-Bank of Italy seeks more powers in wake of Monte Paschi troubles http://www.globalpost.com/dispatch/news/thomson-reuters/130209/update-1-monte-paschi-expects-state-aid-very-soon <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Italian central bank backs Draghi call for action</p> <p>* Decision on fines for former Monte Paschi management expected in March</p> <p>* Monte Paschi sees way clear for 3.9 billion euro state loan soon (Recasts to add quotes from Bank of Italy's head and director general, details)</p> <p>By Francesca Landini</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130209/update-1-monte-paschi-expects-state-aid-very-soon" target="_blank">read more</a></p> Bank Banks Business Derivative Economic history Entertainment Law Monte dei Paschi di Siena Thomson Reuters Sat, 09 Feb 2013 11:30:04 +0000 Thomson Reuters 5750911 at http://www.globalpost.com UPDATE 2-Monte Paschi former finance chief held in Italy http://www.globalpost.com/dispatch/news/thomson-reuters/130214/update-1-monte-paschi-former-finance-chief-held-italy <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Silvia Ognibene Manuela D'Alessandro</p> <p>SIENA/MILAN, Feb 14 (Reuters) - Italian police arrested on Thursday the former head of Monte dei Paschi's finance department, who is at the centre of a probe into alleged fraud and bribery at Italy's third largest bank, prosecutors said.</p> <p>Gianluca Baldassarri is the first person to be arrested in a widening scandal that has rocked the world's oldest bank and triggered a financial and political storm ahead of Feb 24-25 national elections.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130214/update-1-monte-paschi-former-finance-chief-held-italy" target="_blank">read more</a></p> Antonveneta Bank Economic history Monte dei Paschi di Siena Thomson Reuters Thu, 14 Feb 2013 11:01:06 +0000 Thomson Reuters 5755338 at http://www.globalpost.com WRAPUP 2-EU clinches deal to cap bankers' bonuses http://www.globalpost.com/dispatch/news/thomson-reuters/130227/update-1-eu-strikes-deal-cap-banker-bonuses <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* One-of-a-kind ceiling on bonuses likely to affect London most</p> <p>* To cap bonus at 100% of salary, or 200% if shareholders agree</p> <p>* Curbs to affect non-EU banks and EU bank staff globally</p> <p>* Measures part of new EU 'rulebook' on how banks should operate</p> <p>By John O'Donnell and Claire Davenport</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130227/update-1-eu-strikes-deal-cap-banker-bonuses" target="_blank">read more</a></p> Bank Bankers' bonuses Business Economy of the European Union European Union European Union Federalism Labor Law Politics Thomson Reuters Thu, 28 Feb 2013 00:15:13 +0000 Thomson Reuters 5769117 at http://www.globalpost.com London mayor says EU bank bonus cap helps New York, Singapore http://www.globalpost.com/dispatch/news/thomson-reuters/130228/london-mayor-says-eu-bank-bonus-cap-helps-new-york-singapore <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Feb 28 (Reuters) - London Mayor Boris Johnson lashed out at a European Union cap on bankers' bonuses on Thursday, warning that the move will shunt banking business towards Zurich, Singapore and New York.</p> <p>Bankers in Europe face a cap on bonuses as early as next year, following a provisional agreement in Brussels to introduce what would be the world's strictest pay curbs.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130228/london-mayor-says-eu-bank-bonus-cap-helps-new-york-singapore" target="_blank">read more</a></p> Bank Thomson Reuters Thu, 28 Feb 2013 11:00:52 +0000 Thomson Reuters 5769548 at http://www.globalpost.com UPDATE 1-London mayor says EU bank bonus cap helps New York, Singapore http://www.globalpost.com/dispatch/news/thomson-reuters/130228/update-1-london-mayor-says-eu-bank-bonus-cap-helps-new-york-sin <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Feb 28 (Reuters) - London Mayor Boris Johnson lashed out at a European Union cap on bankers' bonuses on Thursday, warning that the move will shunt banking business away from the City of London and towards Zurich, Singapore and New York.</p> <p>Bankers in Europe face a cap on bonuses as early as next year, following a provisional agreement in Brussels to introduce what would be the world's strictest pay curbs.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130228/update-1-london-mayor-says-eu-bank-bonus-cap-helps-new-york-sin" target="_blank">read more</a></p> Bank Business European Union Financial centre Labor Law Thomson Reuters Thu, 28 Feb 2013 11:31:21 +0000 Thomson Reuters 5769577 at http://www.globalpost.com German nabbed in foiled 650-m bank scam: Greek police http://www.globalpost.com/dispatch/news/afp/130228/german-nabbed-foiled-650-m-bank-scam-greek-police <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>A 63-year-old realtor from Germany has been arrested in Greece after allegedly attempting to claim 650 million euros ($850 million euros) in a bogus bank transfer, police said on Thursday.</p> <p>"The sum of money seemed amazing to us too," a police spokesperson in Athens told AFP.</p> <p>A 60-year-old Romanian and a 61-year-old Greek were also arrested and charged with attempted fraud.</p> <p>The incident occurred on the small Aegean island of Kalymnos where the German runs his real estate business, the police said.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130228/german-nabbed-foiled-650-m-bank-scam-greek-police" target="_blank">read more</a></p> Bank Business AFP Thu, 28 Feb 2013 13:01:19 +0000 Agence France-Presse 5769664 at http://www.globalpost.com FACTBOX-How new EU rules will restrict bonus payouts http://www.globalpost.com/dispatch/news/thomson-reuters/130228/factbox-how-new-eu-rules-will-restrict-bonus-payouts <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>BRUSSELS, Feb 28 (Reuters) - Bankers in Europe face a cap on bonuses as early as the start of next year, following agreement in Brussels on Thursday to introduce what would be the world's strictest pay curbs.</p> <p>The change in the law is set to be introduced as part of a wider body of legislation, known as Basel III, which demands that banks set aside roughly three times more capital and build up cash buffers to cover the risk of unpaid loans.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130228/factbox-how-new-eu-rules-will-restrict-bonus-payouts" target="_blank">read more</a></p> Bank Business Labor Law Thomson Reuters Thu, 28 Feb 2013 15:15:14 +0000 Thomson Reuters 5769786 at http://www.globalpost.com CORRECTED: EU delays bank bonus cap as Britain offers hope of deal http://www.globalpost.com/dispatch/news/afp/130305/corrected-eu-delays-bank-bonus-cap-britain-offers-hope-deal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>European Union governments on Tuesday delayed a decision on controversial bank bonus caps after Britain offered hope of an overall deal if given more time to negotiate.</p> <p>EU finance ministers meeting in Brussels agreed to take another look at plans to cap bonuses at the same amount as is paid in a fixed annual salary, or twice that sum if shareholders approved the payment.</p> <p>British Finance Minister George Osborne told his peers during a public debate Tuesday that "we can’t support the proposal currently on the table."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130305/corrected-eu-delays-bank-bonus-cap-britain-offers-hope-deal" target="_blank">read more</a></p> Bank Business George Osborne Salary cap AFP Tue, 05 Mar 2013 14:17:20 +0000 Agence France-Presse 5773878 at http://www.globalpost.com