The Financial Services Authority (FSA) will consult on a proposal that financial institutions in receipt of liquidity support from a central bank will have a legitimate interest for delaying the public disclosure of such support. Today's proposal is the next
The Governing Council of the European Central Bank (ECB) has decided to launch the TARGET2 Securities (T2S) project and to provide the resources required until its completion. It also decided to assign the development and operation of T2S to the
A new report from a US senate subcommittee has claimed that UBS helped to hide around $18 billion of American clients' assets, in order to help them avoid income tax. It is claimed that the Swiss bank facilitated the transfer
Banks in China are likely to face a tougher time in repaying debt, due to new central bank enforced capital ratio requirements. This is the opinion of the China Banking Regulatory Commission (CBRC), which was reacting to the People's Bank
The US congress was strongly urged to adopt rescue measures for Fannie Mae and Freddie Mac as soon as possible. Following meetings in Washington DC, treasury secretary Henry Paulson indicated that the package which guarantees unlimited financial backup for the
The Securities and Exchange Commission (SEC) is seeking email and trading records from Wall Street firms as part of its investigation into manipulation of Lehman Brothers and Bear Stearns share prices. Anonymous sources familiar with the regulator's probe further details
The Securities and Exchange Commission took unprecedented action against short sellers on Tuesday, acting on a widespread concern that negative bets against bank and brokerage stocks might be exacerbating the financial sector's woes. In a dramatic emergency order, the SEC
The Securities and Exchange Commission announced that the SEC and other securities regulators will immediately conduct examinations aimed at the prevention of the intentional spread of false information intended to manipulate securities prices. The examinations will be conducted by the
The Federal Reserve is expected to get a "consultative role" in regulating mortgage financing enterprises Fannie Mae and Freddie Mac that will strengthen its ability to police market stability, Reuters reports. "To protect the financial system from systemic risk going
US securities regulators are boosting efforts to stop the spread of false rumors that threaten financial institutions, after a week that saw steep slides in the shares of Fannie Mae, Freddie Mac and Lehman Brothers, Reuters reports. In an unusual