Dimon: Regulating Financial Firms So They Don’t Cause Massive Crises “Un-American”

By: Monday September 12, 2011 11:46 am

Time to pile on to the Jamie Dimon persecution complex. Dimon, the CEO of JPMorganChase, told the Financial Times that new global rules on capital requirements are “un-American.” The Basel III capital rules are designed to make the financial system safer by making banks build up risk-absorbent “core tier one” capital to at least 7 [...]

Citi Magically Changes Assets to Avoid Capital Requirements

By: Tuesday April 19, 2011 12:15 pm

Felix Salmon brings us the news of how Citigroup is skirting its capital requirement: At issue is a pool of $12.7 billion in assets, which is housed at Citi’s “bad bank”, Citi Holdings. In 2008, Citi decided that these assets were not available for sale, and rather were going to be held to maturity. Presto [...]

US Banks Must Raise $100 Billion in Capital to Comply with Basel III Requirements

By: Monday November 22, 2010 10:01 am

Banks may be reaping record profits thanks to years of favorable emergency lending programs, but there are lots of dangers on the horizon for them. For one, there’s the possibility that investors may aim to put back hundreds of billions of dollars in soured mortgages on them. For another, there are all the new regulatory [...]

Biggest Banks Already Qualify Under Basel III Reforms

By: Monday September 13, 2010 10:28 am

Since the deal on the Basel accords, I hadn’t seen a whole lot of criticism of the plan, which the consensus opinion finds stronger than expected. But the counterpoints have begun to trickle in. Naked Capitalism has a rundown, though most of the criticisms have little to do with the rules themselves, but what other [...]

Basel III Accord Reached: Capital Requirements Set at Minimum 7%

By: Sunday September 12, 2010 11:07 am

Reuters reported about an hour ago that negotiators had reached a deal on the Basel III reforms for international banking, and that on the key question of capital requirements, the range would fall in between 7% and 9%. The press release from the Group of Governors and Heads of Supervision puts that squarely on the [...]

Optimism on Basel III, Capital Requirements?

By: Tuesday September 7, 2010 10:30 am

Felix Salmon reassesses the Basel III process on international bank standards, and actually finds reason for optimism: I very much hope that Die Zeit is right about the Basel III capital requirements: the numbers being mooted there are definitely at the top end of what anybody expected. They start with a bare minimum Tier 1 [...]

This Week in FinReg Implementation

By: Monday August 30, 2010 7:53 am

Damian Paletta offers a preview of the high-stakes debate in Basel, Switzerland, over new global banking rules that will set the amount of capital firms must hold in reserve, and the amount of dollars they can borrow for every dollar they have in that reserve. Part of the problem is that having different standards for [...]

New Basel Standards Slash Capital Requirements for US Banks

By: Thursday August 19, 2010 9:28 am

Two top international banking supervisors put out the utterly mundane statement that raising capital requirements for banks would not crash or even touch the global economy to any degree. It would not reduce lending and would increase stability for the system, preventing the need for future large-scale bailouts. This would be a nice bit of [...]

Dodd-Frank Leads to Goldman Spinning Off Trading Division?

By: Friday August 6, 2010 8:35 am

I’m sympathetic to Matt Taibbi’s argument that Wall Street made out like bandits in the Dodd-Frank financial reform law. I’ve tried to explain as honestly as I possibly could how the law isn’t a root-and-branch restructuring of the financial sector, and how it isn’t even a law yet, with all the studies and rulemaking to [...]

IL-Sen: Giannoulias Supports Brown-Kaufman, Higher Capital Requirements

By: Friday July 30, 2010 9:25 am

Last week, Kentucky Senate candidate Jack Conway told me that he supported breaking up the big banks as an extension of financial reform. He stressed that the largest half-dozen firms only grew since the financial crisis, accumulating 70% of total GDP in assets, and that the Justice Department’s anti-trust division and the FTC needed to [...]

Goldman Sachs Restructuring to Do End Run Around FinReg

By: Wednesday July 28, 2010 7:20 am

The ink has barely dried on the Dodd-Frank financial reform bill, and already the mega-banks, who weren’t broken up in the legislation, have figured out ways around some of it’s “toughest” elements. This is from Fox Business, grain of salt, etc., but it’s what we heard companies might do about the Volcker rule previously: Goldman [...]

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