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Doubts Greet Plan for Euro Zone Bank Regulator
Keywords:
The European Banking Authority has lost credibility after two rounds of stress tests by the EBA failed to turn up the problems at Spanish banks that required a $125 billion recapitalization by the EU rescue fund. Now EU officials are turning to the European Central Bank as the eurozone's main banking regulator. The U.S. Federal Reserve is performing this role after the 2008 financial crisis, with the FDIC in charge of bank closures and resolution. ECB president Mari Draghi says, letting the ECB perform supervisory tasks, a decision made at the June 28 EU summit talks, is fully in line with the bank's mandate. Separate decisions will be needed for a bank resolution authority like the FDIC. The ECB will then have to hire hundreds of banking experts to make on site visits to eurozone banks and check their loan books and make independent assessments of bad loans, bank risks, and capital requirements. The important thing is an agency which is free of local and political interference to make the correct evaluations.
The EU proposal for the ECB as banking regulator for all European banks
03/03/2010
EU proposals that would put the banking supervisory authority for European banks under the ECB for the Single Resolution Mechanism.
Grouped Articles
Wall Street Journal 03/03/2010
ECB Nominates French Regulator for Euro-Zone Post
Wall Street Journal 11/23/2013
ECB Nominates New Banking Regulator
New York Times 11/20/2013
Shadow of Noose Speeds Up Banking Union
Wall Street Journal 12/16/2013
Doubts Greet Plan for Euro Zone Bank Regulator
New York Times 07/01/2012
Wall Street Journal 09/12/2012
European Banking Authority 2011 tests for sovereign bond holdings at European banks
09/14/2011
The tests released in Dec. 2011 show how much the banks of each country need to come up with to meet Tier 1 core capital requirements of 9%.
Grouped Articles
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
EU Tells Lenders to Bulk Up Capital Cushions
Wall Street Journal 12/09/2011
Why European Banks Are Sacrificing Growth
BusinessWeek 12/15/2011
BusinessWeek 11/10/2011
Raising Capital: A Love Story?
Wall Street Journal 02/14/2012
Fears that Basel III and European Banking Authority E.U. Stress Tests may not adequately reflect the risks on banks balance sheets.
01/21/2010
The situation after bailout of Irish banks in November 2010 by the EU. The Irish banks had passed European stress tests. Portuguese and Spanish banks may face a similar situation.
Grouped Articles
Wall Street Journal 07/16/2011
Europe Fails Another Stress Test
Wall Street Journal 07/16/2011
The Battle Over Bank Rules at Basel III
BusinessWeek 05/27/2010
Wall Street Journal 09/13/2010
Basel Rules Unlikely to Force Capital Raising
Wall Street Journal 09/14/2010
Wall Street Journal 09/14/2010
The European Banking Agenda in 2012-2014- deposit insurance and powers of banking supervision transferred to a European supervisory authority
03/03/2010
On the agenda during discussions in June between the EC, ECB and the German government, is deposit insurance for eurozone banks, and a supervisory financial authority for eurozone banks (Single Resolution Mechanism) within the EC with powers transferred from sovereign states to the the supervisory banking authority. These issues take priority because of fears of bank runs on banks in Greece, Spain and other countries. France is pushing for a new Eurozone Architecture that will form the basis of the euro currency.
Grouped Articles
ECB Hits the Road for Star Supervisors
Wall Street Journal 06/26/2013
European Union Offers Berlin Compromise on Bank Proposal
New York Times 07/12/2013
Wall Street Journal 03/03/2010
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
ECB Nominates French Regulator for Euro-Zone Post
Wall Street Journal 11/23/2013
ECB Nominates New Banking Regulator
New York Times 11/20/2013
EU stress tests for banks in 2011
03/18/2011
Grouped Articles
Wall Street Journal 07/16/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
Banks, Regulators Still Jostling Over EU Stress Tests
Wall Street Journal 07/14/2011
Europe Needs Lesson in Stress Management
Wall Street Journal 07/14/2011
Michael Gibson, new chief of the U.S. Federal Reserve's regulatory division
01/21/2010
Under Dodd-Frank legislation the Fed was given the additional task of oversight of U.S. financial institutions. Gibson would play an important role in setting up stress tests for U.S. banks, regulatory supervision of banks, and representing th U.S. on the Basel committee.
Grouped Articles
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Fed Boosts Pressure on Banks Over Capital Levels
Wall Street Journal 08/20/2013
Obama Presses for Action on Bank Rules
New York Times 08/19/2013
Fed Publishes 'Stress Test' Procedures
Wall Street Journal 11/10/2013
Wall Street Adapts to New Regulatory Regime
Wall Street Journal 07/22/2014
A detailed account of the unfolding crisis at Bankia bank in Spain during 2011-2014
04/01/2009
An account of the key players and the ufolding of critical events in the IPO offering for Bankia, and the unraveling of the bank in the months that followed, as the Spanish regulators and government failed to get a handle on problems and instead put their hope on an improving economy. On May 3, Mario Draghi warned about the problems at Bankia in Barcelona. On May 4, the heads of Spain's largest banks BBVA, Banco Santander and Caixa, told the government it had to takeover Bankia, setting in process the events leading upto the acceptance of $125 billion in EU aid to recapitalize Spain's banking system. Bankia was put together from seven failing cajas savings banks. The problems related to the housing bubble are seen throughout the cajas savings banks.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Wall Street Journal 09/28/2011
The Pain in Spain Falls Mainly on the Cajas
BusinessWeek 02/25/2010
Economist 05/29/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
U.S. Federal Reserve's banking regulation 2011-2013
12/21/2011
Grouped Articles
Fed’s New Bank-Regulation Tune Should Be One Direction
Wall Street Journal 12/02/2014
Wall Street Journal 12/21/2011
Wall Street Journal 12/29/2011
Wall Street Chiefs Set a New Agenda
Wall Street Journal 02/28/2012
Fed’s Tarullo warns that banking reforms are losing steam - The Washington Post
Washington Post 05/04/2012
Doubts Greet Plan for Euro Zone Bank Regulator
New York Times 07/01/2012
Close links and revolving door between large banks and regulators in Europe and the U.S.
05/04/2009
Mark Branson, heads the division in charge of supervising banks at the Swiss financial regulatory authority, FINMA. He headed the Japan operations of UBS at the time when UBS traders in Japan were engaging in manipulation of the LIBOR rate. This has raised questions in the Swiss parliament about the integrity of the Swiss regulator.
Grouped Articles
SEC's Top Cop Oversaw Deutsche CDOs
Wall Street Journal 04/24/2010
SEC 'Revolving Door' Under Review
Wall Street Journal 06/16/2010
A Conflict in Geithner's New Job- Not Exactly
New York Times 11/18/2013
Doubts Greet Plan for Euro Zone Bank Regulator
New York Times 07/01/2012
New York Fed Chairman's Ties to Goldman Raise Questions
Wall Street Journal 05/04/2009
In Turnabout Former Regulators Assail Wall St. Watchdogs
New York Times 10/22/2014
European Banking Authority E.U. Stress tests for banks in 2010 and 2011
10/02/2009
Stress tests for banks in Europe in July 2010 and in 2011.
Grouped Articles
Wall Street Journal 07/16/2011
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
EU's Top Banks Pass Stress Tests
Wall Street Journal 10/02/2009
Document Contradicts EU Bank Statement
Wall Street Journal 10/06/2009
Wall Street Journal 10/03/2009
Moody's Questions Spanish Banks
Wall Street Journal 10/14/2009
Spain's prime minister Mariano Rajoy's handling of the economic and banking crisis in Spain
09/28/2011
Rajoy's history cautiously embracing politics as Spain emerged from the Franco era, his father's advice to avoid politics after the searing experience of his grandfather in Galicia, the early years in Pontevedra, Galicia, and regional pride in Galicia, are described in Rajoy's book "En Confianza." Regional pride and the European experiment appear to be intertwined, just as Germany would like to see its political entity merged with a European entity, Spain would like to see its political entity merged with the European entity, because of a searing interwar period. Rajoy would genuinely like to see the European experiment go forward as he made the decision to accept EU aid.
Grouped Articles
Wall Street Journal 09/28/2011
Spain Emerges From Recession but Sees More Austerity Ahead
Wall Street Journal 09/23/2013
Spain Plans to Burn Its Bridges to Keep Vacationers on the Job
Wall Street Journal 02/08/2012
Mariano Rajoy of Spain Steps Up in Debt Crisis
New York Times 06/10/2012
EU: Spain Banks Will Be Monitored
Wall Street Journal 06/11/2012
Spain's Handling of Bankia Repeats a Pattern of Denial
Wall Street Journal 06/11/2012
The restructuring of the troubled landesbank banking sector in Germany.
07/21/2010
Landesbanks have suffered steep losses in 2008-2010. The much needed reorganization of this sector and the European stress tests for 91 banks in July 2010.
Grouped Articles
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
Germany’s Battered Regional Lenders Tiptoe Back Into Risk
Wall Street Journal 11/02/2015
Will Stress Tests Overcome Resistance to German Bank Reform?
New York Times 07/21/2010
Some German Banks May Fall Short in Stress Tests
New York Times 04/08/2011
Stress Rules Hit 2 German Banks
Wall Street Journal 04/13/2011
Moody's Downgrades 10 German Lenders
Wall Street Journal 11/17/2011
Italy's Mario Draghi, as the new president of the ECB
04/20/2011
Grouped Articles
ECB Moves Markets, Not Economy
Wall Street Journal 05/03/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
Italian Gains Support in Central Bank Race
Wall Street Journal 04/20/2011
Paris Backs Italy's Draghi as Europe's Central Banker
Wall Street Journal 04/27/2011
German Paper Finds Draghi Not So Bad After All
New York Times 04/29/2011
Trichet to Leave a Difficult Legacy at Central Bank
New York Times 05/31/2011
The U.S. Federal Reserve's Large Institution Supervision Coordination Committee
10/21/2009
Fed chairman Bernanke and Governor Tarullo set up the LISCC in 2010 to provide expert supervision at Fed headquarters that reports to them. Before this supervision was left to the 12 Federal Reserve Banks. Now the Fed can draw on the 42 PhD's and other experts in its ranks to review individual bank's financial position for systemic risk in adverse scenarios and flag these risks. This is critical to effective supervision of large banks.
Grouped Articles
Central Bankers Hone Tools to Pop Bubbles
Wall Street Journal 07/08/2013
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Fed Boosts Pressure on Banks Over Capital Levels
Wall Street Journal 08/20/2013
Banks Ordered to Add Capital to Limit Risks
New York Times 04/08/2014
The Federal Reserve's Too Cozy Relations With Banks
Wall Street Journal 09/10/2014
The Fed Needs Governors Who Aren’t Wall Street Insiders
Wall Street Journal 11/18/2014
The right incentives for banking regulators to prevent local regulatory capture.
10/01/2009
The need for financial incentives ad better pay. And the importance of letting supranational institutions handle banking oversight.
Grouped Articles
Economist 10/01/2009
The Other Plot to Wreck America
New York Times 01/10/2010
India and America, Two Peas in a Pod
New York Times 11/08/2011
In Hunt for Securities Fraud a Timid S.E.C. Misses the Big Game
New York Times 12/15/2011
Doubts Greet Plan for Euro Zone Bank Regulator
New York Times 07/01/2012
Mario Draghi says having the ECB take up tasks of eurozone wide banking supervision is fully in line with the ECB's mandate
07/01/2012
Linked Articles
European Central Bank Head, Draghi, Has New Powers
New York Times 07/02/2012
Doubts Greet Plan for Euro Zone Bank Regulator
New York Times 07/01/2012
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