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Michel Barnier, the European Union’s commissioner of financial markets, is calling for regular stress tests on banks to ensure their ability to withstand another financial crisis.
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The Basel Committee on Banking Supervision is said to be close to an agreement on stricter banking rules to help prevent a future financial crisis.
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George Osborne, the U.K.’s Chancellor of the Exchequer, said his country will not participate in a proposed European scheme for imposing levies on banks for future bailouts of troubled institutions.
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The second part of the Handbook on Securities Statistics has been released jointly by the Bank for International Settlements, the European Central Bank and the International Monetary Fund.
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Moody’s reports that performance of U.K. prime residential mortgage-backed securities was stable in July.
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Fitch Ratings’ European CMBS Maturity Repayment Index remained basically flat last month at 37%.
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New rules for calculating reserve buffers may result in higher costs for smaller Australian regional banks that sell mortgage-backed securities, according to Moody’s Investors Service.
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The Basel Committee on Banking Supervision reportedly is considering a 9% Tier 1 capital requirement for banks, plus a 3% “conservation buffer” during boom times.
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An analysis of recent stress tests on European banks shows that some 91 banks did not provide a complete picture of their holdings in government debt, according to The Wall Street Journal.
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FirstMac, the Australian non-bank lender, is preparing to sell A$416 million ($381.67 million) in residential mortgage-backed securities.