A Reuters report said banks would need to increase their capital by USD155 billion or EUR115 billion in order to comply with the global Basel III accord.
Legal & Regulatory
RBI says banks to pay for credit card scam
The Reserve Bank of India had refused to give extended deadline for banks to upgrade their security features to protect cardholders from credit card frauds.
Reforms by new RBI chief seen in net investment inflows into the country
The new programs of RBI Governor Raghuram Rajan have resulted in higher investment rate in the Indian equity markets.
China's central bank to keep a steady policy
The Central Bank of China said last Sunday that it would keep policy steady to cope with economic uncertainties.
China's new trade zone opens in Shanghai
China opened its free trade zone in Shanghai and was hailed as the country's boldest reform, according to a Reuters report.
Latest News
There has been an increasing clamor from politicians, store associations and laborers alike to ease store hours regulations amidst a struggling French economy.
US and British regulators had charged interdealer broker firm ICAP's European arm and three ex-employees for rigging the London interbank offered rate to their benefit.
The European Securities and Markets Authority had sought for the imposition of a levy for non EU clearing house operators.
Marek Belka, Poland's Central Bank Governor, had urged local banks to find opportunities through purchase of local rivals that are owned by foreign banks.
Reuters columnist Allison Schrager said one of the reasons why the US Federal Reserve did not manage the recession as well as it should is the nation's aging population.
Hugo Dixon said the Euro zone needed macroprudential and counter-cyclical fiscal policies to mitigate the results of their single monetary policy.
A draft bankruptcy plan is in the works for the city of Stockton and its bond creditors and other insurers.
The South Korean technology firm Samsung offered to settle with the EU Competition Commission as to the patent lawsuits currently being investigated.
A source told Reuters that US Federal Reserve Vice Chair Janet Yellen was still the top choice to succeed Chairman Ben Bernanke in January.
