Archives: Banks

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German Banking Market is on the Move

The German banking market is on the move. This presents opportunities for foreign investors who would like to enter the German financial market. However, in order to acquire an interest in a German financial institution, i.e. credit or financial services institution, an investor has to comply with a couple of specific regulatory requirements. To continue … Continue Reading

European Financial Industry Regulatory Update

This post was written by Jacqui Hatfield, Dan Weiner and Michael Berryman from Reed Smith’s UK Financial Markets Regulatory Group. International regulatory bodies, working alongside their regional and national counterparts, have spent over six years attempting to mend the global financial system by strengthening its stability and resilience. This financial industry regulatory update sets out … Continue Reading

Reed Smith Analysis – Banking Reform: Delivering Stability and Supporting a Sustainable Economy, June 2012

On the 14 June 2012, HM Treasury published a White Paper setting out the Government’s implementation of the Vickers Report. This was confirmed by George Osborne at the annual Mansion House speech. This will result in: the ring fencing of high street banking; banks establishing a primary loss-absorbing capacity; a bail-in tool enabling authorities to … Continue Reading

The Cost of Basel III for a Safer Financial Services Industry – Jacqui Hatfield, Reed Smith Partner Comments in the FT

This post was written by Jacqui Hatfield. The Financial Times published an article on 18th May 2012 and it discussed the cost to the 29 largest banks in the world, in order for them to comply with the Basel III rules. The article entitled “Fitch calculates $566 billion need for Basel III rules” and details … Continue Reading

February Banking Regulatory Update

International regulatory bodies, working alongside their regional and national counterparts, have spent more than four years attempting to mend the global financial system by strengthening its stability and resilience. In 2012, the stream of regulations does not appear to be slowing, as governments and regulators continue to address the issues arising from the financial crisis. … Continue Reading

The EBA completes its top management structure

The EBA’s Board of Supervisors, the principal decision-making body of the Authority, composed of 27 voting members, one from each EU Member State, selected today Adam Farkas to serve as the first Executive Director of the EBA, subject to confirmation by the European Parliament. The Executive Director will be in charge of the day-to-day management … Continue Reading

Banking Industry Regulatory Update

International regulatory bodies, working alongside their regional and national counterparts, have spent over three years attempting to mend the global financial system by strengthening its stability and resilience. In the latter part of 2010 and in early 2011, the stream of regulations did not appear to be slowing. On 17 February 2011 the European Commission … Continue Reading

The Establishment of the European Banking Authority

The European Banking Authority (EBA) replaced the Committee of European Banking Supervisors (CEBS) on 1st January 2011 and last week announced that Andrea Enria, formerly of CEBS would be the chairman from 1 March 2010. CEBS, together with the other committees, were only entitled to adopt non-binding guidelines and recommendations and as such, had little … Continue Reading

The new EBA chairman

I can see why he is introducing himself in such a confident and enthusiastic manner because the role requires it but he was not, as far as I was aware, a leading light at CEBS and his comments are a bit naive. The EBA will have the power to bind member states and we know … Continue Reading

Radical plans to replace Financial Services Authority fall behind schedule

The government is today warned against pushing through its plans to abolish the Financial Services Authority (FSA) as it emerges that the Treasury will struggle to complete its radical overhaul of the regulatory system until 2013. However, it is unlikely that the plans to abolish the FSA will be overturned at this late stage. The Coalition are firmly … Continue Reading

Banks could leave Europe over regulation, warns Goldman Sachs chief Lloyd Blankfein

Lloyd Blankfein has caused a furore amongst the City banks, by warning that onerous regulation in Europe could force banks to looks for more welcoming homes outside of the EU. Goldman were then forced to clarify Blankfein’s statement, noting that “contrary to some news reports, we have no intention of quitting Europe.” However, according to … Continue Reading

EU Stress Testing

The results of the European Union-wide stress testing of banks were announced recently, with 91 banks (including 27 in Spain) tested. Seven (including five Spanish cajas) failed, requiring a combined bank capitalisation of €3.5bn. The purpose of the tests was both to create more confidence in the soundness of European banks, with the hope of … Continue Reading
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