Company News



BBA: Announcement of LIBOR changes

BBA LIBOR today announced that following the recommendations set out in the Wheatley Review, with effect from 1st July 2013, the publication of individual bank’s submissions to LIBOR will be embargoed for 3 months. The BBA also announced today that the publication of “same day” EURO LIBOR rates for 1 week and 1 month, will cease from 31st July 2013.  These 2 rates were supplemental to the “spot” EUR LIBOR rates for all seven LIBOR tenors, which will continue as usual.  . .

 

http://www.bba.org.uk/media/article/announcement-of-libor-changes



Danske Told by FSA to Add $18 Billion in Risk-Weight Order

Danske Bank A/S (DANSKE) was ordered by the Financial Supervisory Authority to revise its internal rating model after the regulator said Denmark’s biggest lender had underestimated its risky assets.  . .

http://www.bloomberg.com/news/2013-06-17/danske-told-by-fsa-to-add-18-billion-to-risk-weighted-assets.html



Bankers ‘Could Wait 10 Years For Bonuses’

Banks could be required to defer bonuses for up to 10 years it emerged on Friday night under proposals being considered by members of the parliamentary commission on banking standards . . .

 

http://hereisthecity.com/2013/06/08/bankers-could-wait-10-years-for-bonuses/ 



Most Banks Expect Salary Increases to Offset EU Bonus Cap

More than half of global banks said they would increase salaries to offset the effect of European Union bonus caps, according to a study by human resources consultants Towers Watson & Co. (TW) . .

http://www.bloomberg.com/news/2013-06-10/most-banks-expect-salary-increases-to-offset-eu-bonus-cap.html



Reports of the Death of the Financial Transaction Tax Look Exaggerated

Over the past month or so, the City has woken up to the idea that 11 countries in the European Union are planning to introduce a Financial Transaction Tax. . .

http://hereisthecity.com/2013/06/11/reports-of-the-death-of-the-financial-transaction-tax-look-exagg