Regulators Weigh Easing of Global Bank Rules
International regulators are poised to ease a core element of new banking rules that were designed to improve the safety of the financial system, with some regulators fearing that plowing ahead with tough new requirements could exacerbate the current European crisis, according to people familiar with the matter.
Central banks ready to act as world prepares for Greek poll
Reuters via Yahoo! News
Central banks from major economies stand ready to take steps, including coordinated action, to stabilize markets as world economies prepare for a possible financial storm or public panic after cliffhanger elections in Greece this weekend.
Draghi Hints ECB Is Ready to Act
By TODD BUELL And MARGIT FEHER – WSJ
The European Central Bank will continue its “crucial role” of providing liquidity to sound banks against appropriate collateral, ECB President Mario Draghi said Friday. His comments suggest that the central bank may be ready to answer international calls to ease monetary conditions in the 17-nation euro zone as risks to the financial system intensify.
Basel Seeks Deal on Rules for Nationally Systemic Banks
Global financial regulators, after reaching a consensus last year on tougher capital rules to govern banks that would roil the world economy if they collapsed, will try to hammer out a deal next week on controls for lenders with the potential to bring down national economies.
ECB Tells Court Releasing Greek Swap Files Would Inflame Markets
The European Central Bank said it cant release files showing how Greece may have used derivatives to hide its borrowings because disclosure could still inflame the crisis threatening the future of the single currency.
CFTC’s Gensler Warns of Overseas Risks in Derivatives
Commodity Futures Trading Commission Chairman Gary Gensler said Thursday new derivatives rules must extend across U.S. borders to prevent risks from hurting the U.S. economy.
DealBook: Regulator May Grant Foreign Banks Brief Reprieve on Derivatives
New York Times
In a speech to bankers, the head of the Commodity Futures Trading Commission outlined a plan to regulate overseas derivatives trading while delaying some rules for foreign banks.
NYSE, Knight Capital CEOs to Testify at House Hearing on Markets – Sources
By Jacob Bunge and Jessica Holzer – Dow Jones
The top executives of NYSE Euronext (NYX) and Knight Capital Group (KCG) are expected to testify next week at a U.S. House of Representatives hearing examining the functions of U.S. financial markets, according to persons familiar with the matter. http://jlne.ws/Lr5HNT
Remarks BY CFTC Chairman Gary Gensler On Derivatives And The Cross-Border Application Of Dodd-Frank Swap Market Reforms At The Institute Of International Bankers’ Membership Luncheon
Goldman Sachs: Internet IPO Window May Be Closed Until After Labor Day
Goldman Sachs’ co-head of investment banking for global telecommunications, media and technology Anthony Noto said tonight that he’d be surprised if there’s another IPO for an Internet company before Labor Day. Facebook’s controversial offering has already shelved other deals from companies like Kayak, as public investors have driven down the value of newer consumer web companies.
New BrokerTec platform enhances performance and user experience in European fixed income market
ICAP, the worlds leading interdealer broker, today announces that its electronic fixed income business, BrokerTec, has successfully launched a new trading system for European fixed income products, using a customised version of the NASDAQ OMX Genium INET platform.
NY Fed Says Maiden Lane Loans From AIG, Bear Stearns Rescues Have Been Paid Back
The Federal Reserve Bank of New York is still sitting on a pile of assets it received in return for bailout loans to help rescue American International Group in September 2008 and steer Bear Stearns into the arms of JPMorgan Chase six months earlier, but any further sales will be pure profit according to a statement Thursday.
Swiss Central Bank Urges Credit Suisse to Bolster Capital
NY Times Shares of Credit Suisse tumble in Zurich trading after the Swiss central bank says it should consider suspending its dividend or raising capital by selling stock.