J. Safra Sarasin announced the appointment of three new joiners to further strengthen and develop the value proposition of J. Safra Sarasin products as well as to grow its international distribution business. Bernhard Speiser joins from Western AM in London where he spent the last 15 years and built up the German and Swiss institutional […]
J Safra Sarasin, the Basel, Switzerland-based private banking group, said it had agreed to acquire Credit Suisse’s private banking businesses in Monaco and Gibraltar, for an undisclosed amount. In a statement released on Tuesday, Safra Sarasin described the two entities as “an excellent strategic fit with the J. Safra Sarasin Group”. When the deal is completed, […]
Charles Plosser, the Federal Reserve Bank of Philadelphia president, last week criticised US efforts to end the too-big-to-fail problem and advocated a more rules-based approach to bank resolution.
Corporate hedgers are pressing US regulators to exempt their trades from Basel III’s credit valuation adjustment (CVA) charge – as European policy-makers have done – so US companies and banks are not put at a competitive disadvantage to their transatlantic peers.
The Bank of England’s Financial Policy Committee (FPC) has warned that major UK banks and building societies currently have a shortfall in capital of around £25 billion.
A combination of national and industry concerns was behind the controversial watering down of Basel III’s liquidity coverage ratio (LCR) in January, according to Ulrich Giebel, a liquidity policy expert at the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Germany’s prudential supervisory agency.
The Basel Committee on Banking Supervision has proposed replacing value-at-risk with a metric, expected shortfall, that fails to meet a key criterion of its mooted new trading book regime – it cannot be properly back-tested – according to Paul Embrechts, professor of mathematics at Eidgenössische Technische Hochschule Zürich (ETH Zürich).
The failure to agree minimum buffer requirements for Europe’s banks at yesterday’s Ecofin meeting of EU finance ministers has been brushed off by chair Margrethe Vestager, Danish Minister for Economic Affairs and the Interior, and Michel Barnier, Commissioner in charge of Internal Market and Services.
European banks saw their risk weighted assets leap at the turn of the year, as new trading book rules collided with the European Banking Authority’s call to achieve a 9% capital minimum.
The Swiss Funds Association (SFA) has strongly criticised aspects of Switzerland’s proposed Collective Investment Schemes Act (CISA), notably regarding discrimination against the Swiss financial sector and lack of measures to strengthen competitiveness.
An International Monetary Fund (IMF) working paper first published in August last year is circulating among asset managers beginning to despair at the waves of legislation building up across the European industry.
Bank supervisors say they are keeping a close eye on a new generation of corporate deposits that use a rolling 35-day option to remain out of reach of the 30-day threshold embedded in the Basel III liquidity coverage ratio (LCR) – one of the first products designed in response to the new rules.