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News & Commentary
Content tagged with Compliance posted in September 2012
Spain Debt Rises on Aid to Banks
News  |  9/30/2012
Spain's debt levels are set to rise next year, piling pressure on the government to apply for aid as it pours funds in to cash-strapped regions, an ailing banking system and rising refinancing costs, its budget showed on Saturday.

U.K.'s Labour Vows to Break Up Banks if Elected
News  |  9/30/2012
Britain's Labour opposition leader launched an offensive against banks on Sunday ahead of his party's annual conference, promising a "real separation" of retail and investment banking and to raise the top rate of personal income tax.

BofA Settles Shareholder Lawsuit, to Pay $2.43 Billion
News  |  9/28/2012
Bank of America said it will pay $2.43 billion to settle a class action lawsuit with investors who held its securities at the time the company announced plans to acquire Merrill Lynch.

Banks, Brokers Suspected in Rate-Rigging, Says E.U. Anti-Trust Chief
News  |  9/24/2012
Banks and brokers are suspected of colluding to rig benchmark interest rates, the EU's antitrust chief said on Monday, detailing an ongoing investigation into suspected wrongdoing in the financial sector.

Spain Needs No Sovereign Bailout, German Minister Says
News  |  9/21/2012
German Finance Minister Wolfgang Schaeuble said on Friday that Spain did not need a sovereign bailout on top of the package already agreed for its banks because it was on the right path to regain the confidence of markets.

U.S. Power Market Regulator Threatens to Suspend JPMorgan
News  |  9/21/2012
U.S. federal energy regulators threatened on Thursday to suspend JPMorgan Chase & Co's right to sell electricity at market rates after accusing the bank of misleading authorities -- a measure that would effectively banish it from the power market.

Durbin and the Future of Payments
Commentary  |  9/20/2012
Although banks lost interchange revenue because of it, the Durbin Amendment also provides opportunities for banks in cost savings and customer convenience.
Fannie Mae Paid BofA Premium to Transfer Soured Loans, Says Regulator
News  |  9/18/2012
Fannie Mae agreed to pay Bank of America Corp about 20 percent more than it was contractually obligated to last year in order to transfer the servicing of troubled loans to another firm, a report by a watchdog found.

Doubts Plague Europe's Pledge For Banking Union
News  |  9/18/2012
Concerns are growing among European investors and lawmakers that plans for a eurozone banking union will end up half-baked, with the financial backstops required to underpin the ambitious scheme unlikely to be in place for years.

Swiss Banks to Suffer Big Withdrawals Over Tax: UBS
News  |  9/17/2012
UBS expects Swiss banks to see European clients withdraw "hundreds of billions of francs" as a result of steps to stop foreigners using secret accounts to evade taxes.

Banks to Get Some Relief on Liquidity Rule
News  |  9/14/2012
Banks will get some relief from a new rule forcing them to hold cash buffers, although global regulators were unable to agree this week how that might be achieved, two people familiar with the talks said on Friday,

The Pros and Cons of Migration Analysis
Commentary  |  9/11/2012
Migration analysis is a rigorous analytical process recommended by the regulatory agencies; yet it is underutilized
Former UBS Trader Faces Trial Over $2.3 Billion Losses
News  |  9/10/2012
A former UBS trader goes on trial in London this week in a case involving losses of $2.3 billion that will subject the Swiss bank to an "uncomfortable" examination of its culture and practices.

Big Banks Weigh Risks, Rewards of California's New CO2 Market
News  |  9/7/2012
Major banks are weighing whether to wade into the California carbon market, which experts believe could grow into a $40 billion a year market by 2020, but one that is also loaded with risk and uncertainty.

U.K. Tells Banks to Cut Exposure to Euro Breakup Risk
News  |  9/7/2012
Britain's top banks have tens of billions of euros in exposure to the risk of countries leaving the euro or the currency union breaking up entirely, despite intense pressure from the UK financial regulator to tackle the problem.

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