Oh and he also wants paper money to stop being accepted at par value all the time.
Jamie Dimon thinks there is “too much” capital in the banking system. Fed economists in the supervisory division think there isn’t nearly enough.
“Patel gave the media a slip to escape from the back door. He literally started running while reporters ran after him on the stairs. The RBI Governor jumped more than a step at times to reach his car which sped away.”
Ratesetter has changed its model to deal with fragility in its fund designed to protect investors from losses. In the process, it has revealed just how bank like some “peer-to-peer” lenders have become.
Corporate debt in China is a well-known problem and part of the solution is, apparently, a new round of debt-for-equity swaps. Of course, there will always be sceptics.
The US Financial Accounting Standards Board might have backed-off its post-crisis move to force banks to value their assets at market prices – but it could still tweak accounting rules in a way that might mean big changes for financials.