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February 26, 2013
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  Top Stories 
  • Dutch court backs seizure of SNS Reaal shares, bonds, loans
    The Council of State in The Hague, the top administrative court in the Netherlands, has not returned SNS Reaal securities to investors but refuses to prevent them from seeking compensation for losses. The court upheld government seizure of SNS Reaal shares, bonds and subordinated loans, saying Finance Minister Jeroen Dijsselbloem was entitled to intervene. Bloomberg (2/25) LinkedInFacebookTwitterEmail this Story
  • EU officials strive for progress on Basel III accord
    EU Internal Market Commissioner Michel Barnier says officials must move forward with Basel III rules governing bank capital to avoid further delay and uncertainty. "We need agreed rules as soon as possible so that banks know which way they are going," Barnier said. Bloomberg (2/26) LinkedInFacebookTwitterEmail this Story
  Industry News and Trends 
  • Spanish exchange eyes Euronext acquisition
    If Euronext is sold as part of a merger of NYSE Euronext and IntercontinentalExchange, Bolsas y Mercados Españoles will consider acquiring the European exchange operator, says Javier Hernani, managing director of the Spanish exchange. "We will look at a Euronext deal -- everybody will," Hernani said. "So far, we haven't knocked on anybody's door, but we will look at anything in the market; we always do." The Trade News (U.K.) (2/25) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • CFTC will hold discussion on Libor changes
    The Commodity Futures Trading Commission has scheduled an event today to consider possible changes to the London Interbank Offered Rate. Industry participants including representatives from CME Group, NYSE Euronext and IntercontinentalExchange are expected to attend. CFTC Chairman Gary Gensler has expressed concern about benchmark interest rates. Meanwhile, the U.K. government has started seeking a body to take over supervision of Libor. Bloomberg (2/26), City A.M. (London) (2/26), Bloomberg Businessweek (2/25) LinkedInFacebookTwitterEmail this Story
  • Global transaction tax is possible, EU official says
    EU Tax Commissioner Algirdas Semeta says a global tax on financial transactions eventually should be a reality, as he encourages U.S. supporters to continue their efforts. The U.S. Treasury Department remains opposed. Meanwhile, the head of the Lisbon Stock Exchange has called on the Portuguese government to oppose Europe's proposed tax until all EU members support it. Bloomberg (2/26), Reuters (2/25), The Trade News (U.K.) (2/25) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Hate traps us by binding us too tightly to our adversary."
--Milan Kundera,
Czech writer


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