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07 December 2012
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News on the global financial markets

  Morning Bell 
  Industry News 
  • BNP offers custody stock trading in Asia
    Investors soon will have the option of trading blue-chip stocks on the "international board" of the London and Singapore stock exchanges using a custody service from BNP Paribas. Financial Times (tiered subscription model) (06 Dec.) LinkedInFacebookTwitterEmail this Story
  • Analysis: UK appears to favour EU withdrawal
    The UK's Conservative Party, which leads the governing coalition, seems ready to embrace an EU exit. The action would be a reckless gamble on Britain's future, according to The Economist. "Difficult and often humiliating as it may be, the best course is to stick close to Europe, and try to bend it towards Britain," the magazine notes. The Economist (08 Dec.) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • BoE holds quantitative easing and rates
    With the UK economy poised between growth and contraction and questions about the effectiveness of the Bank of England's quantitative easing, the central bank has decided not to extend the programme. The BoE also decided to leave interest rates at a record-low 0.5%. BBC (06 Dec.) LinkedInFacebookTwitterEmail this Story
  • Regulators take closer look at risk-weighted assets
    As risk-weighted assets take on greater importance in determining banks' capital requirements, regulators are starting to doubt whether it is a good idea to let banks determine the riskiness of their assets. The Bank of England's Financial Policy Committee recently warned that banks might have understated capital needed by as much as £35 billion. The Economist (08 Dec.) LinkedInFacebookTwitterEmail this Story
  • UK banks are lukewarm about lending programme
    UK banks are participating "out of courtesy" in the government's Funding for Lending Scheme, which is designed to increase borrowing by giving financial institutions more money to lend. That conclusion is being drawn from a relatively small amount of cash taken by banks. Part of the hesitance is that banks are sufficiently flush to begin with. Reuters/International Financing Review (06 Dec.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  • Investment schemes spark fear of trillions at stake in China
    Fears have been ignited in China about the possibility of widespread Ponzi schemes that could amount to trillions of dollars. The focus is on wealth-management products, popular but unregulated vehicles that promise a certain rate of return and claim to invest in enterprises as diverse as auto companies and pawnshops. Police and regulators are investigating after investors of one such fund protested at a branch of Hua Xia Bank in Shanghai. (06 Dec.) LinkedInFacebookTwitterEmail this Story
  GFMA News 
  • IOSCO Secretary General David Wright will speak at GFMA/SIFMA LEI Seminar -- TUESDAY in New York City
    GFMA and SIFMA are partnering to present "Implementing a Global LEI Framework -- Ready. Set. Go." International Organisation of Securities Commissions Secretary General David Wright will provide the keynote address. Join Wright, US Treasury Department representatives and financial-services leaders as they address key issues that will influence and shape the future of a global standard for legal-entity identification and the impact such regulations and processes will have on your firms starting this month. Don't miss your chance to prepare. Register! LinkedInFacebookTwitterEmail this Story
You will never find time for anything. If you want time you must make it."
--Charles Buxton,
British brewer, philanthropist, writer and legislator

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