Britain should investigate the manipulation of currency rates, European Union officials said, after Bloomberg reported that traders have been rigging foreign exchange benchmarks for more than a decade.Friday, 14 June, 2013, 3:49am
The European Banking Authority, which sets the rules for banks in the 27 European Union countries, is thought to have approved proposals that would require a cap on bonuses for anyone whose pay is more than €500,000 (HK$5 million).19 May 2013 - 9:23am 1 comment
Twelve of 16 analysts expect Beijing to relax or remove the cap on deposit rates or the floor on lending rates, according to a survey conducted before Xi Jinping's appointment as president tomorrow. A majority sees at least minor changes to the birth and registration policies.14 Mar 2013 - 7:47am
Hongkongers will be keeping one eye on their wallets and another on the television as Financial Secretary John Tsang Chun-wah delivers his budget plan. Tsang is expected to take advantage of the healthy surplus in the government account to offer handouts and tax breaks, although government sources have hinted that these will be less generous than last year's.27 Feb 2013 - 4:55am
Members of the European Parliament and diplomats agreed to reconvene on February 27 after their negotiations ended without a deal on how to implement components of the Basel bank regulations in the EU.21 Feb 2013 - 6:22am
More than a dozen traders at RBS offices in London, Singapore and Tokyo manipulated the London interbank offered rate, which is used to price trillions of dollars worth of loans, from at least 2006 until 2010.7 Feb 2013 - 5:17am
The Financial Services Authority said it found serious failings in reviews of products sold by HSBC, Barclays, Royal Bank of Scotland and Lloyds Banking. The FSA looked at 173 sales to "non-sophisticated" customers and found that more than 90 per cent did not comply with the rules.1 Feb 2013 - 5:23am
Shanghai's banking regulator has told lenders to set up telephone hotlines for complaints about staff misconduct in selling wealth management products.
The move is seen as a gesture towards protecting consumer rights after a slew of irregularities in the banking sector.25 Jan 2013 - 4:56am
When Luo Juncheng first walked into the offices of Hong Kong's Chiyu Bank in August 2009, he was a teenager setting up an account for a company he had bought off the shelf three days earlier. When he returned 10 days later, he set up a personal account with a meagre HK$500 deposit.30 Jul 2013 - 9:06pm
According to mainland media reports, Beijing has set this year's quota for new bank loans at nine trillion yuan (HK$11.11 trillion).
Now, nine trillion yuan sounds like a lot of money. Certainly it's more than the 8.2 trillion yuan in new local currency loans Chinese banks made last year.24 Jan 2013 - 5:30am
European Central Bank officials were considering new rules that would require banks to give more information about loans used as collateral for borrowing from the institution, a person with knowledge of the situation said.18 Jan 2013 - 5:27am
The banking regulator has told mainland lenders to "strictly" supervise the design, sale and investment of their wealth management products as it seeks to curb risks from banks' off-balance-sheet businesses.15 Jan 2013 - 4:15am
The first Basel agreement on global banking regulation, adopted in 1988, was 30 pages long and relied on simple arithmetic. The latest update, known as Basel III, runs to 509 pages and includes 78 calculus equations.4 Jan 2013 - 2:48am
Those who complain of an overregulated banking system on the mainland and heavy-handed intervention by the government in lenders' business operations were recently given reason to rethink their conclusions.
The default of a wealth management product issued by a branch of Huaxia Bank in Shanghai's Jiading district exposed the lax management and supervision of banking outlets.4 Jan 2013 - 2:48am
The terms and conditions in the standard account opening agreements between banks and customers have been the subject of litigation when things go wrong. Some of the most common clauses are looked at today - non-reliance clauses.
What are non-reliance clauses?2 Jan 2013 - 7:15am