Treasury Secretary Timothy Geithner voiced disapproval with a proposal from U.K. Prime Minister Gordon Brown for a tax on financial transactions. Geithner said he would not support the tax but appeared to soften his stance later, saying the International Monetary Fund would be responsible for coming up with possibilities.
Posts Tagged ‘Systemic Risk’
U.S. criticizes U.K. proposal to tax financial transactions
November 9th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: Borders, Contingent Capital, Finance Minister, Financial Transaction, Financial Transactions, Gordon Brown, Imf, Insurance Fee, International Monetary Fund, Levy, Mr Brown, Opponents, Possibilities, Prime Minister Gordon Brown, Proposal, Proposals, Systemic Risk, Treasury Secretary, Voiced Disapproval, Volatility 
No Comments »EU proposes new bank ’super regulator’
September 25th, 2009 Before You Invest The European Union (EU) is continuing with its plans to create a new ’super regulator’ for banks and other financial institutions operating in Europe.
President of the EU Commission Jose Manuel Barroso announced the proposals – which include the formation of a new European Systemic Risk Board – yesterday (September 23rd).
The move came ahead of this week’s meeting of G20 leaders in Pittsburgh and the EU said in a statement: “The European system can also inspire a global one and we will argue for that in Pittsburgh.”
Employees from the European Central Bank would be used to staff the risk board and the EU has also suggested forming three new regulatory bodies to oversee exchanges, the insurance industry and banks.
Mr Barroso remarked that the aim is to ensure the “dark days of autumn 2008″ do not happen again.
Last week, it emerged that the EU may force Lloyds Banking Group to sell its Halifax arm as compensation for the funding it was given by the UK government during the credit crunch.
Posted in Finance Fraud Tags: Aim, Autumn, Banking Group, Banks, Credit Crunch, Dark Days, Eu Commission, European Union, Financial Institutions, Global One, Insurance Industry, Jose Manuel Barroso, Lloyds, Pittsburgh Employees, Proposals, Regulatory Bodies, Risk Board, September 23rd, Systemic Risk, Uk Government No Comments »
