Goldman Said to Prepare Trading System for Corporate Bonds
Bloomberg
Goldman Sachs Group Inc. (GS) will start an electronic trading system for corporate bonds this month as the fifth-biggest U.S. bank adapts to regulatory changes and competition, according to a person familiar with the plans.
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Banks face tougher trading capital rules
By Brooke Masters, Chief Regulation Correspondent – Financial Times
Bank trading desks face a new threat to their profitability after global regulators unveiled proposals on Thursday to force them to hold more capital against the risk of heavy losses when markets freeze. The Basel Committee on Banking Supervision’s “fundamental review of the trading book” aims to close loopholes that have allowed banks to cut capital requirements by parking assets in their trading books.
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Goldman Sachs Said to Prepare Trading System for Corporate Bonds
Bloomberg
Goldman Sachs Group Inc. (GS) will start an electronic trading system for corporate bonds this month as the fifth-biggest U.S. bank adapts to regulatory changes and competition, according to a person familiar with the plans.
http://jlne.ws/K6lSBQ

BNP Paribas closes in on Basel target
By Scheherazade Daneshkhu in Paris – Financial Times
BNP Paribas reported a 9.6 per cent rise in first-quarter net profits, boosted by the sale of a stake in Klépierre, the property company, which helped France’s largest bank by assets achieve the bulk of its plan to boost capital.
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UBS faces pay backlash as Weber becomes chairman
Reuters via Yahoo! News
UBS became the latest bank to face the anger of its shareholders over executive pay on Thursday, as investors queued up to voice their complaints in a packed meeting that echoed recent protests at Credit Suisse and Barclays.
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HSBC Bank USA is suspected of giving free rein to money launderers
MSNBC: Field Notes
Criminals found an easy place to launder money at HSBC Bank USA, according to allegations contained in documents from a federal investigation of the bank, Reuters news agency reported Thursday.
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Deutsche senior banker Heaton to join Morgan Stanley
Reuters via Yahoo! News
Eric Heaton, a veteran investment banker who has worked on some of the banking industry’s largest merger deals, has left Deutsche Bank to join Morgan Stanley , according to people familiar with his plans.
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Barclays Says Head of Loan Capital Markets for Asia to Retire
Bloomberg
Richard Palmer will retire as head of loan capital markets for the Asia-Pacific region at Barclays Plc (BARC) , according to Angie Tang, a Hong Kong-based spokewoman at the London-listed bank.
http://jlne.ws/K6lTWr

No rubber stamp for Lehman executives’ settlement
Reuters via Yahoo! News
With a nod to country singer Kenny Rogers, a federal judge has refused for now to allow insurers for former officers and directors of Lehman Brothers Holdings Inc to pay $90 million to settle a fraud lawsuit brought by investors.
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