Banking reform

Indians remember telegram heyday as service stops

After 162 years, India is now set to disband the world’s last major telegram service. Photo: AFP

Sixty-six years ago, Santosh Sharma saw her mother sell gold bangles to feed and clothe her family of six and then dispatch telegrams to her brothers urging them to leave newly-created Pakistan and gather in New Delhi.

Thursday, 11 July, 2013, 2:07pm

Britain says reckless bankers could face jail

HSBC chairman Douglas Flint. Photo: Reuters

Bankers who are reckless with customers’ or taxpayers’ money could face criminal charges and have bonuses and pensions clawed back, according to proposals backed by Britain’s prime minister on Wednesday.

20 Jun 2013 - 10:56am

UK’s Osborne to unveil future of state-controlled banks

Britain’s Chancellor of the Exchequer, George Osborne is expected to signal that the country’s banking sector is on the mend. Photo: AFP

The fate of Britain’s two state-controlled banks will become clearer on Wednesday, when finance minister George Osborne is likely to start the clock ticking for the sale of the government’s stakes.

19 Jun 2013 - 12:17pm

EU draft bank rescue law would not shield big deposits

Under a draft proposal under consideration by the European Union, banks would dip into large deposits of more than 100,000 euros, but smaller deposits would be spared. Photo: AFP

A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than 100,000 euros (HK$997,800) in savings when a bank failed could suffer losses.

21 May 2013 - 11:10am

Bankers' high pay is governments' fault

European Union. Photo: Bloomberg

Ten times as many London-based bankers as previously expected could be caught by Europe's cap on bonuses in a fresh sign that regulators are attempting to clamp down on City of London pay.

21 May 2013 - 5:46am 1 comment

Closure fears spark run on Popular Bank in Cyprus

Cypriots withdraw cash from ATM machines in the capital Nicosia. Photo: AP

Anxious Cypriots queued outside Popular Bank ATM machines to withdraw their cash as fears rose that the country's financial crisis would mean its second-largest lender closes for good.

23 Mar 2013 - 3:25am

Cyprus to present redrafted bailout 'Plan B'

People withdraw money from an ATM machine outside a closed branch of the Bank of Cyprus in Nicosia. Photo: AP

Cyprus’ government has drawn up a new plan to raise funds needed for the country to secure a crucial international bailout, three top government officials said on Thursday.

21 Mar 2013 - 8:57am 1 comment

Executive pay needs reform, not just crackdown

Thomas Minder, councillor of State and initiator of the 'Against rip-off' initiative in Switzerland. Photo: Reuters

It's no fun being a top executive these days. Whether it's Europe, China or even the United States, increasingly tough limits are being placed on executive compensation, sometimes with the full force of new legislation.

13 Mar 2013 - 3:00am

Beijing liberalises mutual fund market

A Ping An Insurance building in Shanghai. Photo: Reuters

The decision is expected to introduce more than 50 new competitors to the mutual fund sector as the China Securities Regulatory Commission (CSRC) strives to drive up the key indicators.

20 Feb 2013 - 2:20am

Relaxing bank liquidity rules sparks hope for euro lending boost

The loosening of liquidity rules due to come into effect on banks raises hopes among some analysts to a recovery of lending the euro zone.

The Basel Committee on Banking Supervision announced over the weekend that it would give banks more time to meet global liquidity rules, phasing them into force from 2015.

9 Jan 2013 - 11:50am