A European Union law up for a vote on Monday will only fully shield taxpayers from bailing out troubled banks if there is a global framework as well, a top UK regulator said on Monday. Bank of England Deputy Governor …
For the past year, a special team of U.S. bank regulators has been on a quiet mission to end the belief on Wall Street that large banks are “too big to fail.” The team from the Federal Deposit Insurance Corp. …
As well as too-big-to-fail it looks as if we must think of our largest banks as too-big-to-punish as well. After comments from top U.S. Justice Department officials in the wake of the $1.5 billion settlement with UBS over interest-rate manipulation, …
Proposed curbs on insurers aimed at preventing a repeat of AIG’s 2008 taxpayer bailout could raise the cost of insurance, making more people dependent on the state, a finance sector lobby group said. “As currently designed, there is a high …
The Property Casualty Insurers Association of America (PCI) has issued a statement urging the International Association of Insurance Supervisors (IAIS) ”to better target its proposed ‘policy measures’ for any insurance groups found to be ‘global systemically important insurers’ (G-SIIs) to …
International insurance think tank, The Geneva Association, published its response to the International Association of Insurance Supervisors’ (IAIS) public consultation, Proposed Policy Measures for Global Systemically Important Insurers, on Sunday, December 16. The Property Casualty Insurers Association of America has …
International insurance think tank, The Geneva Association has published a cross-industry analysis comparing the named 28 Global Systemically Important Banks (G-SIBs) to 28 of the world’s largest insurers on indicators of systemic risk. John H. Fitzpatrick, Secretary General of The …
Unfinished financial reforms are hampering recovery in key parts of the global economy and weighing on economic growth, the head of the International Monetary Fund warned on Thursday. In a speech in Toronto, IMF Managing Director Christine Lagarde urged world …
Sanford “Sandy” Weill, the tycoon who built financial conglomerate Citigroup Inc. into a massive U.S. commercial and investment bank, said it is time to split up the biggest banks so they can go back to growing again. The comments were …
The next time a big bank or financial firm fails, regulators hope to avoid a major blow to the economy by seizing the firm’s parent company while allowing its healthy subsidiaries to continue operations, the head of the Federal Deposit …
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