EU Libor Review, South Korea’s Basel Implementation, Wall Street Leaderless in Rules Fight
European Parliament lawmakers are seeking views on how to prevent any repeat of the scandal engulfing interbank lending rates and on whether manipulation of the benchmarks was more widespread than reported.
The U.K. may draw on the euro area’s attempts to build a banking union to bolster its case for an opt-out from EU plans to pool oversight and rescue measures for lenders.
South Korea’s Financial Services Commission plans to use a short-term Cost of Funds Index in cooperation with lenders as an alternative for banks to base their short-term lending rates, the regulator said in a statement.
Switzerland is delaying plans to require foreign clients of Swiss banks to declare they are tax-compliant to patch together two sets of legislative proposals, the Federal Department of Finance said.