The Financial Stability Board is proposing a new minimum standard for total loss-absorbing capacity, which is designed to provide confidence that systemically important global banks can absorb losses without upsetting financial stability and the wider economy.
New global rules to prevent banks that are “too big to fail” from being bailed out by taxpayers have been proposed. . .
It was an everyday kind of quarter for HSBC: superficially healthy earnings were undermined by a $1.6bn charge to cover a long list of fines, provisions and compensation bills. By way of variation on a theme, there was news of a possible criminal investigation over tax matters in France. . .
Royal Bank of Scotland is ditching the auditors that reviewed its accounts before, during and after its £45bn taxpayer bailout. . .