Bank shares fall on fears over new regulations

[pampango]

Source: BBC

Global banking stocks have fallen on concerns that banks will have to maintain significantly more funds in reserve from 2012.

That is the recommendation of the Basel Committee on Banking Supervision, which sets global standards for the banks. It said that increased financial reserves would help prevent a repeat of the credit crisis and its impact.

Analysts said banking stocks had fallen, as investors were concerned that banks may have to issue new shares to help the additional funds, thereby diluting the value of existing shareholdings. In the UK, Lloyds Banking Group closed Thursday trading down 8%, while Barclays lost 6.2%. Meanwhile, Germany's Commerzbank lost 4.3%, and France's Credit Agricole fell by 4.6%.

The UK government is already moving ahead with plans to force banks to build up their capital reserves, with such a measure featured in its Financial Services Bill, which is currently making its way through parliament.

Read more: http://news.bbc.co.uk/2/hi/business/8419551.stm

[SpiralHawk]

1. Ye Olde Skany Bankster Thingy

Ptooey on Global RepubliconThink and Global Republicon Bankster Family Values. Ptooey.

[slackmaster]

2. New regulations means new software needed to ensure compliance

Good times for application developers and project managers ahead.

[Ghost Dog]

4. Good thinking.

Now, go for good quality

work.

Call me if you need me (Team-Leader).

[slackmaster]

5. I was the "Y2K Preparedness Coordinator" at the job I had in 1999

I wrote nearly 100 pages of mostly bullshit about what could go wrong, how we could prevent it, how to test our stuff, etc. and got paid well for it.

[Ghost Dog]

6. Yeah? I was early 'eighties freelance contractor

Analysing requirements, designing and programming databases and user-interfaces for the London Stock Exchange, after having worked-up early spreadsheet software virtually in my free time.

Then, I led working teams, and faced clients.

They tended to treat me like one of the cleaners, after midnight.

Maybe I should talk to the Asians, North Africans and/or South Americans.

Or even, the Russians.

What you say?

[muriel_volestrangler]

9. It doesn't look like 'new regulations' to me, just increasing the amount in reserves

That may mean inputting a new value here and there, but you'd have to hope the old value wasn't hard-coded into programs.

[FiveGoodMen]

3. Good example of how the stock market fucks us.

[No Elephants]

7. Not to worry. Americazn taxpayers give good bailout.

[Ghost Dog]

8. No shit.

Self-shot to the heart.


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