2011

Aug

01

Republicans and Democrats Strike a Deal to Raise Debt Ceiling

Barack Obama, the U.S. President has announced a deal to raise the country's borrowing limit in order to ensure that the country doesn't run out of money. The President has urged the Congress to approve the deal.

2011

Aug

01

U.K. Government Reveals Amendments to European Union Prospectus Directives

Mark Hoban, Financial Secretary to the Treasury has suggested that small-business banking customers will find it easier to access finance from banks in the near future, after the implementation of the new European regulatory changes.

2011

Aug

01

Securities and Exchange Commission Urges American International Group to Disclose their Credit Ratings Process

As per some letters between The U.S. Securities and Exchange Commission (SEC) and American International Group (AIG), SEC is seeking more disclosure from AIG on how and why they assigns credit ratings to investments in their portfolio. The insurance group commented prior to the table that their investment decisions are based on internally generated ratings.

2011

Aug

01

International Monetary Fund Urges U.K. Government to Boost Money Supply into the Economy

The International Monetary Fund (IMF) has asked the U.K. government to cut taxes and the Bank of England to boost the supply of money into the economy, in order to overcome a prolonged period of weak growth, high unemployment and low inflation.

2011

Aug

01

Financial Services Authority Reveals New Regulations to Safeguard Investors

The Financial Services Authority (FSA) has published new rules on platform regulation aiming at enabling the investors with better financial advisory services. The financial regulators have adopted this measure after a review of platform regulation in the context of the objectives for their upcoming consumer protection strategy named Retail Distribution Review (RDR).

2011

Aug

03

China to Create New Regulatory Body to Tighten Control over Financial Industry

As per some sources, China is planning to create a new ministerial-level body in order to supervise their state-owned banks as well other financial enterprises.

2011

Aug

02

U.S. Debt Ceiling to Increase to Avoid the Threat of Credit Rating Downgrade

In an attempt to avoid the threat of a U.S. credit rating downgrade, the stateside policymakers have decided to increase the country's debt ceiling by more than USD 2 trillion.

2011

Aug

02

China will Continue to Combat Rising Inflation in 2011: Central Bank

China's Central Bank - People's Bank of China has said that they will continue their efforts in combating the rising inflation in the coming months.

2011

Aug

02

London Stock Exchange to Buy Transaction Reporting System from Financial Services Authority

The Financial Services Authority (FSA) has entered into a conditional agreement to sell their Approved Reporting Mechanism, known as the Transaction Reporting System, to the London Stock Exchange (LSE) for Pound 15 million.

2011

Aug

03

Five Largest Banks to Use European Central Counterparty Limited as Preferred Clearing House

Five of the world's largest investment banks have decided to use European Central Counterparty Limited (EuroCCP) as their preferred clearing provider.