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Geithner Checks In On Britain – US-FOREX.US
En route to several key meetings in the Middle East, Timothy Geithner stopped over in London on Monday to swap notes about fixing the financial system. No doubt the chats with his British counterparts were sprinkled with platitudes about effective regulation, but the U.S. Treasury Secretary will have also sensed tension over what has become… »
Britain Points Fingers At Shareholders – US-FOREX.US
Britain’s “tripartite” system of regulating the financial system, consisting of the Treasury Department, the Financial Services Authority and the Bank of England, has recently gotten slack for reported disagreements. But at a banking conference on Tuesday, they made it very clear that shareholders were most responsible for their market woes. “Shareholders are at the front… »
A Sermon To The Banking Industry – US-FOREX.US
HSBC Chairman Stephen Green has joined regulators and central bankers in warning his fellow banking bigwigs that it is still too early to be optimistic about the financial sector. “We cannot even say that we are past the worst,” said Green, speaking to the British Banker’s Association Annual International Banking Conference on Tuesday in London,… »
The Partys Over For Banking – US-FOREX.US
Despite the recent recovery among banks and stock markets, do not expect the financial world to return to the buoyancy of 2006. It is not going to happen, warned John Kingman, the chief executive of U.K. Financial Investments, the company set up to manage the British government’s investments in the banking sector. One reason: “Banks… »
Smackdown For British Banks – US-FOREX.US
Could U.S. President Obama’s proposals for overhauling banking regulation pale in comparison to what’s being planned across the pond? It’s certainly a possibility after the latest comments from Adair Turner, the chairman of British banking regulator, the Financial Services AuthorityGiving evidence to Members of Parliament on the House of Commons Treasury Select Committee, he warned… »