HONG KONG - The international banking industry has asked regulators for more time to implement derivatives rules that could add $800 billion to the global financial industry's cost of doing business, people familiar with the matter said.
* Banks not ready for rules (Adds source and analyst comment, OTC market details)
LONDON - Government leaders are expected to agree in November that the world's top banks must issue special bonds to increase the amount of capital which can be tapped in a crisis instead of calling on taxpayers to come to the rescue, industry and G20 officials said.
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WARSAW/LONDON, Aug 20 - Banks and asset managers are ready to support an extension of the one-minute window used to set currency market benchmarks, documents showed on Wednesday, but most are concerned by the risks involved and divided on how much of an extension.
- Leaders of the Group of 20 economies (G20) aim to draw a line under the 2007-09 financial crisis before the end of this year with the completion of reforms aimed at preventing taxpayers from having to rescue banks again in a future crisis.
LONDON, Aug 21 - Government leaders are expected to agree in November that the world's top banks must issue special bonds to increase the amount of capital which can be tapped in a crisis instead of calling on taxpayers to come to the rescue, industry and G20 officials said.
LONDON - Fund managers may face tougher scrutiny by global regulators than planned after their intense lobbying against a first proposal backfired, industry sources and G20 officials said.
NEW YORK - U.S. regulators are sending some of the biggest global banks verbal warnings as they crack down on the firms' poor grasp of their own weaknesses, and push for rapid improvements in risk assessment, according to two sources familiar with the matter.