News

“No limit” on duration of Federal Reserve coronavirus lending

Major US banks are ramping up for a mass lending effort as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, as the US Federal Reserve chair says there will be “no limit” on the duration of tis financial support during the covid-19 crisis.

09 April 2020

No dividend deferrals here, US and Singaporean regulators say

US and Singapore regulators have indicated they will not be following their counterparts elsewhere in the world by asking banks to forgo dividend payments – as the latter issued a series of relief measures in the wake of the covid-19 crisis.

09 April 2020

HSBC shareholders resist dividend suspensions

A group of Hong Kong shareholders is mulling legal action against HSBC for acquiescing to the Bank of England's request that it forgo shareholder dividends.

07 April 2020

Goldman Sachs hires former Obama counsel

Latham & Watkins partner and former White House counsel Kathryn Ruemmler has joined Goldman Sachs to head its regulatory affairs department, while the bank has named in-houser Michael Richman as head of compliance.

07 April 2020

Regulators warned of coronavirus aftershock without Libor transition delay

Regulators could make banks vulnerable to a post-coronavirus market shock if they insist on phasing out Libor by its original end-of-2021 deadline, according to legal professionals.

03 April 2020

China approves Goldman and Morgan Stanley majority stakes

China has removed restrictions on foreign ownership of securities entities, days after Goldman Sachs and Morgan Stanley won regulators’ approval for them to assume majority control over their local joint ventures.

03 April 2020

Banks severed from inaugural cum-ex trial could still face penalties

Practitioners say German authorities have several avenues to sanction banks that were spared penalties in the country’s inaugural cum-ex trial.

03 April 2020

Covid-19: Dividends halted till October, Basel IV implementation delayed by a year

The Basel Committee has pushed back its deadline for implementation of the so-called ‘Basel IV’ standards by a year to allow banks to concentrate on mitigating the Covid-19 crisis, as EU and UK regulators request banks to hold off paying out shareholder dividends until October.

01 April 2020

EBA draft standards for FRTB implementation draw scepticism

Banks may not be incentivised to adopt the internal model approach offered under the EU’s Fundamental Review of the Trading Book (FRTB) under new draft standards offered by the European Banking Authority, practitioners say.

01 April 2020

45 under 45 – call for nominations

GBRR is assembling a “45 under 45” survey, and inviting nominations from our readers.

27 March 2020

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