EU komt met nieuwe eisen aan de banken
“European
Union Internal Market Commissioner Michel Barnier said Tuesday he would
propose fresh bank capital and liquidity requirements in the coming weeks,
in line with the global Basel III commitments”

Slappe stresstests
“Banks
and regulators should aim to find private investors to reinforce the capital
of lenders that fail this year’s round of European Union stress tests. …
This year’s exams will include a review of how lenders would handle a 0.5
percent economic contraction in the euro area in 2011 as well as a 15
percent drop in European equity markets. The results will be published in
June, Hungarian Economy Minister Gyorgy Matolcsy told journalists in
Brussels. Een VIJFTIEN procent daling…!! Gelukkig komen die bijna
nooit voor, ahem… Afgelopen 10 jaar hebben we twee keer een daling gezien op
de AEX van meer dan 60 procent. Reactie op de tests zal dus waarschijnlijk
een herhaling van zetten zijn: too little too late.

Deutsche Bank waarschuwt voor ‘schaduwbankieren’
“Deutsche Bank CFO says concerned
new Basel rules allow shadow banking system” Op bloomberg:.” New
rules such as higher capital requirements have not impacted the shadow
banking sector and regulators should address non-financial companies to
ensure a “level playing field,”” Deutsche Bank AG Chief Financial Officer
Stefan Krause said”. Hij heeft gelijk dat die regels meer gelijkgetrokken
moeten worden, waar het de speculanten betreft. Maar of banken een gelijk
speelveld met speculanten moet hebben. Dacht dat de les van de laatste jaren
toch was dat banken meer een Nutsfunctie hadden?

Strengere regels voor Naked shortselling
Regels worden iets aangescherpt; al is het niet helemaal naar het zin van onze
Oosterburen. “European
Union governments agreed to curb so-called naked short-selling of government
bonds and stocks, while Germany said the group should have gone further and
banned credit default swaps tied to the debt.” Pikant onderdeel
uit het rapport zelf:
“The liquidity and ease of availability of a security should be taken into
account when deciding if it can be reasonably expected that settlement can
be effected when due. The fact that a short sale will be covered by a
purchase of the instrument during the same day can be considered as an
example of offering a reasonable expectation that settlement can be effected
when due.” Goed nieuws dus voor daghandelaren.

Zakenbankiers zegt (nu pas) sorry
“Jamie
Dimon, JPMorgan Chase & Co. (JPM)’s chairman and chief executive officer,
said he was sorry for foreclosure mistakes as hundreds of protesters at the
annual meeting demanded he do more to help homeowners and small businesses
recover from the financial crisis.” Vrees dat dit wat laat komt.
Maar wellicht dat dit bericht er mee te maken heeft: “Mortgage
Servicers Face ‘Substantial’ Liability, Jepsen Says – U.S. banks under
investigation for their mortgage-servicing practices aren’t offering enough
to resolve the probe and face “substantial” liability if states sue them,
Connecticut Attorney General George Jepsen said.”

Gekibbel om hypotheekregels, ook in VS

“Banks Say Simpler Mortgage Form Could `Stifle’ New Products - For Elizabeth
Warren, the Obama administration adviser setting up the Consumer Financial
Protection Bureau, simpler mortgage paperwork is a “regulatory sweet spot”
that will cut lender costs and borrower confusion. That view hasn’t stopped
battle lines from forming around the prototype “mortgage shopping sheet” the
agency is planning to publish today. Industry groups say the revisions may
lead to limits on innovation and variety in lending, while consumer
advocates are resisting changes that might limit borrowers’ right to sue to
stop a foreclosure.” Niet geschoten, altijd mis, maar de
uitlatingen van de “Industry Groups” zijn wel de schaamte voorbij…En dat
terwijl; de huizenmarkt in de V.S. nog lang niet terug bij af is: “Economists
predict the housing market is in for a slow recovery. Government incentives,
such as the first-time home-buyer tax credit, helped home sales last year.
But since its expiration, the housing market has faltered.Ultimately, it
will take stronger income and job growth to inspire more families to
purchase homes, working through the inventory that accumulated during the
downturn. In the meantime, residential construction is likely to weigh on
the economic expansion.”

Down Under kopje onder?
Altijd maar slecht nieuws uit Europa is ook niet fijn, dus we kijken naar
Australië. Voor de redenen kijk naar een eerdere update waar ik deze post
aanhaalde: “This
Time Had Better Be Different: House Prices and the Banks Part 2”.
Vandaag in het nieuws: “Moody's
downgrades ratings for big four banks -… The Moody's downgrade comes a day
after a rival ratings agency, Fitch, said cash-strapped borrowers and
tight-fisted mortgage insurers are a greater threat to Australian banks than
previously thought. New data showed that Australian mortgage insurers, which
secure loans for banks and other lenders, do not always pay the full
outstanding amount of mortgages when they fall over which can leave banks
out of pocket, Fitch said.” De rating agencies zijn altijd te
laat, maar hebben wel grote exposure.

Jacob Jurg is verbonden aan AFS en
verantwoordelijk voor nieuws en research.

Dit artikel is oorspronkelijk verschenen op z24.nl