Reading this on a mobile device? Try our optimized mobile version here:

19 December 2012
Sign upForwardArchiveAdvertise
News on the global financial markets

  Morning Bell 
  • Europe won't meet January deadline for Basel III
    EU talks on steeper capital rules for banks were postponed Tuesday, ensuring that Europe will not meet a January implementation deadline. The cancellation came after indications that accord was imminent. Meanwhile, central bankers and regulators worldwide are set to gather in January in Switzerland to resolve differences over liquidity rules as they attempt to hammer out a complete Basel III accord, sources say. Reuters (18 Dec.), Bloomberg (18 Dec.) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Europe's banking-union talks take twists and turns
    A series of up-and-down and sometimes tense talks this month led to agreement on banking supervision that gives Germany a good deal of what it wants. Part of that is an accord that could keep the European project on track, although Berlin might not be happy with the possibility of paying cleanup costs for other nations' banks. Reuters (18 Dec.) LinkedInFacebookTwitterEmail this Story
  • Banks will take back seat to bonds again in 2013, experts say
    A 2012 trend of companies borrowing from debt markets instead of banks is expected to continue next year, though possibly not as robustly. "We truly believe that disintermediation will continue and that there will be more financing executed in the capital markets as opposed to bank lending," said Societe Generale's Demetrio Salorio. "But we need to realise that 2012 was especially active." First-timers and high-yield players will be in the spotlight in 2013, observers say. Financial News Online (U.K.) (subscription required) (18 Dec.) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • UK lawmakers are expected to back ring fencing
    The UK Parliament is expected Friday to reveal conclusions of an inquiry into banking and endorse ring fencing of retail operations from investment banking. Additionally, the government will permit the breakup of banks that try to circumvent separation rules, sources say. Reuters (18 Dec.) LinkedInFacebookTwitterEmail this Story
  • Euro-zone troubles spur neighbours to cut rates
    With the European Central Bank predicting no euro-zone recovery before mid-2013, central banks surrounding the zone have reduced key interest rates. "They did the right thing," Swedbank analyst Knut Hallberg said of Sweden, Hungary and Turkey. "There is a slight, slight chance of another cut [because] it's going to be a tough winter." Bloomberg (18 Dec.) LinkedInFacebookTwitterEmail this Story
  • BoE puts clearinghouses on notice about risk management
    Risk management by clearinghouses newly charged with derivatives-clearing responsibility will be scrutinised, the Bank of England says. "If financial market infrastructures are operated only in the private interests of their managers, owners or even their members, they may underinvest in the mitigation of risks to the wider system," according to the central bank, which will begin supervising clearinghouses in April. Reuters (18 Dec.), Bloomberg (18 Dec.), Financial Times (tiered subscription model) (18 Dec.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  ASIFMA News 
To be without some of the things you want is an indispensable part of happiness."
--Bertrand Russell,
British philosopher, mathematician and historian

LinkedInFacebookTwitterEmail this Story

Subscriber Tools
Print friendly format | Web version | Search past news | Archive | Privacy policy

Sales Account Director:  Abiy Bekele (919) 931-5915
A powerful website for SmartBrief readers including:
 Recent GFMA SmartBrief Issues:   Lead Editor:  Bridget Lux
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
© 1999-2012 SmartBrief, Inc.® Legal Information