Federal Reserve issues enforcement actions on four banks The US Federal Reserve Board has issued separate actions on four US-based banks, including one that orders Florida-based First Commercial Bank to bolster its cash reserves or arrange to be sold to another financial institution. It also prohibited CCF Holding, Omega Capital and Northern California Bancorp from paying dividends without approval.
CEBS publishes separate guidelines on remuneration and liquidity The Committee of European Banking Supervisors has releasedguidelineson liquidity cost benefit allocation, following the end of the consultation period in June. It has kept the five main guidelines unchanged. It has also released draft guidelines on remuneration policies and practices.
Nigeria setting up international advisory panel for risk management Central Bank of Nigeria governor Sanusi Lamido Sanusi is setting up an international advisory panel to help the country introduce new rules on risk management and corporate governance in order to avoid a financial crisis such as the one suffered in 2009.
Luxembourg central bank governor thinks Basel III will favour US banks Banque centrale du Luxembourg governor Yves Mersch reportedly feels that the new Basel II capital requirements will hurt Europe’s lending-based finance and tilt the global playing field in favour of US banks. Mersch thinks that current capital and liquidity rules “ignore the importance of bank credit as the dominant means of finance in the euro area."
Re-disseminated by The Asian Banker
Please login to read the complete article. If you already have an account, you can login now or subscribe/register.