News

Three regulators criticise new SEC rules

US - Three major U.S. banking regulators issued a scathing criticism on 2 July of the Securities and Exchange Commission's interim final rules on when banks can be exempt from standard dealer and broker requirements.

Fed settles with ex-Bankers Trust exec

US - The U.S. Federal Reserve said yesterday, 2 July, it had settled charges brought against a former Bankers Trust executive in connection with accounting violations at the bank during the mid-1990s.

Czech ex-minister, ex-head of bank blamed

CZECH REPUBLIC - Ex-Finance Minister Pavel Mertlik and CNB central bank ex-governor Josef Tosovsky are responsible for the forced administration imposed on the IPB [Investicni a postovni banka - Investment and Post Bank] bank last June and its…

Madhavpura brass grossly violated prudent banking

INDIA - Jagdish Capoor stepped down on 30 June as the deputy governor of the Reserve Bank of India (RBI). He blames the management of the Gujarat-based Madhavpura Mercantile Cooperative Bank (MMCB) for throwing all prudential norms to the winds. Extracts…

Euro € - Reynders wants euro boost at cash machine

BELGIUM - Didier Reynders, the Belgian finance minister, on 28 June proposed making euro notes available to consumers on a limited basis prior to next year's January changeover, to help reduce the risk of queues and delays forecast by retail groups.

Search on for new European Central Bank President

EUROPE - Yesterday, 28 June, Prime Minister Jean-Claude Juncker of Luxembourg confirmed that he was approached about the job, although he said he wouldn't want it. Mr. Juncker's comments are viewed by the media as the first evidence the European Union…

Japanese regulator penalises Goldman

JAPAN - Japanese regulators slapped heavy penalties on Goldman Sachs on 27 June after the US bank admitted it had misquoted prices in the online warrants market in Tokyo, as reported in the FT London.

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