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In addition to revamping existing rules for bank capital, Basel III introduces a new global framework for liquidity regulation. One part of this framework is the liquidity coverage ratio (LCR), which requires banks to hold sufficient high-quality liquid assets to survive a 30-day period of market stress. . .
JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon stepped down as chairman of the lender’s main bank subsidiary at the start of July, according to a person briefed on the move.
The CEO of Moody’s ruled out the chance of a U.S. government default, even if an agreement over raising the debt ceiling is not achieved by October. . .
http://hereisthecity.com/2013/10/07/moodys-ceo-us-default-extremely-unlikely/
Mizuho Financial Group Inc. (8411)’s banking unit set up an internal committee and will assemble a panel of outside experts to improve compliance after it failed to act on loans made to crime groups. . .