Company News



The Basel Committee today released two consultative papers on the treatment of derivatives-related transactions under the capital adequacy framework.

The two papers are:

Non-internal model method for capitalising counterparty credit risk exposures 

Capital treatment of bank exposures to central counterparties 

http://www.bis.org/press/p130628.htm



Barclays under German taxman’s gaze over tax credits-report

German tax authorities are investigating Barclays over the use of legal loopholes which cut the British lender’s tax bill by billions of euros, a German newspaper reported on Saturday. . .

http://www.reuters.com/article/2013/06/22/barclays-tax-idUSL5N0EY06M20130622



EU Pushes Through Bonus Cap, Uncertainty About Who Will Be Caught Remains

The EU Council pushed through the plan to cap bankers’ bonuses at a maximum of double their salary from 2015. The measure will come in on 2014’s bonuses, paid out at the start of 2015. . .

http://hereisthecity.com/2013/06/21/banks-race-to-overhaul-remuneration-as-eu-set-bonus-cap/



Raj Rajaratnam Insider Conviction Upheld by Appeals Court

Galleon Group LLC co-founder Raj Rajaratnam’s conviction for directing the most extensive insider-trading scheme in U.S. history was upheld by an appeals court, which ruled the government’s use of wiretaps was proper.  . . .

http://www.bloomberg.com/news/2013-06-24/raj-rajaratnam-insider-conviction-upheld-by-appeals-court.html



FSB to Examine Alternatives to Scandal-Hit Benchmark Rates

Global regulators are to assess alternatives to tarnished benchmarks in the wake of rate-rigging scandals that have harmed investor confidence . . .

http://www.bloomberg.com/news/2013-06-25/fsb-to-examine-alternatives-to-scandal-hit-benchmark-rates.html