Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

EU, US agree to fast-track bank rules: Barnier
Reuters ^ | Thu Feb 14, 2013 1:15pm EST | Huw Jones

Posted on 02/15/2013 1:13:49 PM PST by Olog-hai

The European Union and the United States agreed on Thursday to implement the new global Basel III capital adequacy rules for banks as soon as possible, EU financial services chief Michel Barnier said after a meeting in Washington.

The Basel rules are the world’s main regulatory response to the 2007-09 financial crisis, aimed at preventing a repeat crisis where banks had to be bailed out by their governments. …

An EU official said ambassadors from the 27 member states meeting on Thursday also backed proposals for a capping of bankers’ bonuses to no more than the equivalent of their fixed salary, a so-called 1:1 ratio, although the bonus could be doubled if backed by a simple majority of shareholders at a meeting where two thirds of shares are represented. …

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Foreign Affairs; Government; News/Current Events
KEYWORDS: bankregulation; eurobanking; eussr; globalism

1 posted on 02/15/2013 1:13:57 PM PST by Olog-hai
[ Post Reply | Private Reply | View Replies]

To: Olog-hai

>>27 member states meeting on Thursday also backed proposals for a capping of bankers’ bonuses to no more than the equivalent of their fixed salary, a so-called 1:1 ratio

The last time politicians were screaming about bonuses, the banks just rolled the average bonus into the fixed salaries. All this will do is increase the bankers salaries across the board and penalize the productive ones since they can’t be rewarded for their efforts.


2 posted on 02/15/2013 1:31:49 PM PST by vikingd00d (chown -R us ./base)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson