Governor of the Bank of England Mark Carney arrives for an Inflation Report press conference, at the Bank of England, in London, Thursday Nov. 5, 2015. (Jonathan Brady/Pool Photo via AP)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
G-20 finalizes tools for ending 'too big to fail' banksGlobal regulators set out their "final tools" Monday for ending the phenomenon of "too big to fail" banks, seeking to draw a line under a period of intensive rule making after a financial crisis that tarnished the sector and weighed heavily on taxpayers.The bulk of this, or 755 billion euros, would be in China and other emerging markets whose banks have been given an extra six years until 2028 to comply with TLAC, the FSB said.Citi bank analysts said the requirement will be manageable for European banks, with an estimated average 2 percent earnings hit in 2017, rising to 4-5 percent for Unicredit, Santander and BNP Paribas.FSB Secretary-General Svein Andresen said he did not expect banks to necessarily rush headlong to meet TLAC rules early.Some of the banks like Bank of America, UBS, Credit Suisse and Citi have already said they already meet or will comfortably meet the TLAC rules.
FOLLOW THIS ARTICLE