New Basel Rules on Capital Hit European Banks
Top Headlines
New Basel Rules on Capital Hit European Banks – Financial Times (subscription)
Top international central bankers and regulators have struck a long-awaited deal on bank capital rules that Mario Draghi hailed as the final step of post-financial crisis reforms and which resolves a transatlantic rift on the treatment of the industry.
Dollar Rebounds vs Yen, Bitcoin Surges Above $14,000
Top Headlines
Dollar Rebounds vs Yen, Bitcoin Surges Above $14,000 – Reuters
The dollar recovered some ground against the yen, as global markets regained some appetite for risk and on optimism that the United States will successfully push through a tax reform programme.
MiFID Swaps Deal Reached for US Platforms to Avert Rupture
Top Headlines
MiFID Swaps Deal Reached for US Platforms to Avert Rupture – Bloomberg
The European Union said banks and other traders in the bloc can use US platforms to comply with MiFID II restrictions on derivatives, as policy makers moved to prevent a rupture in the $542 trillion global market less than a month before the EU law kicks in.
Pound Falls on Breakdown in Brexit Talks
Top Headlines
Pound Falls on Breakdown in Brexit Talks – Financial Times (subscription)
The pound dropped on uncertainty over Brexit talks as Theresa May fought to revive a deal to break a deadlock in EU divorce negotiations.
Dollar Snaps Three-Day Losing Streak on US Tax Plan Bets
Top Headlines
Dollar Snaps Three-Day Losing Streak on US Tax Plan Bets – Reuters
The dollar rose half a percent against a trade-weighted basket of currencies after the US Senate approved a tax overhaul at the weekend, though gains were limited by doubts that interest rates would rise as a result.
15 European Central Banks Sign Up to Global Code
Top Headlines
15 European Central Banks Sign Up to Global Code – Profit & Loss
Stating that, “All central banks in the European System of Central Banks (ESCB) are strongly committed to supporting and promoting adherence to the Foreign Exchange Global Code of Conduct”, 15 of the ESCB central banks, including the European Central Bank itself, simultaneously issued Statements of Commitment to the Code. Read More