So Deutsche Bank has decided to set a good example to its peers and play ball with Europe’s bank regulators — sort of. Amid European mutterings about German bank recalcitrance — i.e. the refusal by six German banks to publish their government debt exposure as part of European banking stress tests – Deutsche said on Monday it would publish full details of its sovereign holdings.
Err, well, sehr gut, boys — apart from the fact that Deutsche had already listed its main sovereign debt exposure in a June 10 presentation to investors, outlining a net sovereign exposure of €3.2bn to Italy, €500m to Greece and €200m to Ireland, and no such holdings in Spain and Portugal. Read more
Global banking regulators have reached a breakthrough agreement to tighten capital requirements and impose new worldwide liquidity and leverage standards, but softened some of their proposals and delayed others to at least 2018, the FT reports. All but one of the Basel Committee’s 27 member countries – believed to be Germany – signed up to the proposals. While some changes to the definition of liquid assets will please banks, they are still on the hook for much tighter capital rules, Bloomberg says. Read more
Global banking regulators reached a breakthrough agreement on Monday to tighten capital requirements and set new liquidity and leverage standards, but softened some requirements and delayed others until 2018, the FT reports. The Basel Committee on Banking Supervision said all but one of the 27 member countries had signed on to the new principles, which limit what banks can count as so-called tier one capital. The lone dissenter, said to be Germany, has said it will decide whether to sign on later this year. Read more