U.K. banks should pay lower bonuses and retain the money to help strengthen their balance sheets, Deputy Prime Minister Nick Clegg said.
12/27/2011
— Filed under: Finance
Tags: banks, economy, U.K.
Read more: Buy Marlboro cigarettes online
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights.
European countries will support banks that fail stress tests if those lenders cannot raise capital from investors within six months, according to a draft EU document.
Europe’s banks have been told to put a figure on potential losses from holdings in Greek and other sovereign debt to ensure a health check of lenders realistically reflects the deepening euro zone crisis.
Sovereign control of financial regulation is under threat from European moves to harmonise rule books across member states, the three men at the heart of the future Bank of England have warned.
Banks that need to raise fresh capital after stress tests should turn to investors rather than governments, European Union finance ministers will say next week, according to a draft document seen by Reuters on Friday.
Some of Italy’s biggest banks are moving to increase their capital to comply with tougher rules on how much lenders must hold in reserve.
An Italian judge ordered the seizure of a combined 7,3 million euros ($10 million) from Credit Suisse (CSGN.VX) and Lehman Brothers over a 2,2 billion euro securitisation issue, the Naples prosecutor’s office said.
Greece wants to shore up its banking system against the backwash of the country’s debt crisis and has commissioned a study on how to go about it, reviving speculation that some of its lenders could merge.
