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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReducing banks' capital requirements would cause the next financial crisis, German regulator warnsMark Branson, president of the German financial regulatory authority BaFin, discusses changing financial regulation.
Persons: Mark Branson
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDifficulties of rate environment have not yet reached banking clients, BaFin president saysMark Branson, president of German financial regulatory authority BaFin, gives his take on the current rate environment and how German firms, lenders, and consumers should navigate 2024.
Persons: Mark Branson
The Swiss government on Wednesday selected Stefan Walter, a 59-year-old German national who was director-general of the European Central Bank for the last decade, to head the Swiss financial authority known as FINMA. Swiss authorities feared the collapse of such a major lending institution could further roil global financial markets following the failure of two U.S. banks last year. The troubles at Credit Suisse threatened to unhinge Switzerland's position as a leading financial market, and the takeover left the country with only one internationally important bank: UBS. Political Cartoons View All 253 ImagesA parliamentary panel created after the government-orchestrated merger has been looking into the origins of the deal. Walter, who has a master's degree in international banking from Columbia University in New York, will start the job on April 1, the Swiss government said.
Persons: Stefan Walter, Walter, Urban Angehrn, Angehrn, Mark Branson, Marlene Amstad, ” Amstad, SRF, FINMA Organizations: GENEVA, UBS, Credit Suisse, Swiss, European Central Bank, Federal Council, Columbia University Locations: Swiss, U.S, British, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaFin president: 'We don't have a global banking crisis at the moment'Mark Branson, president of the German regulator BaFin (Federal Financial Supervisory Authority), told CNBC's Annette Weisbach that Germany has seen the same impacts from higher rates as many other nations around the world.
Photo: Arne Dedert/dpa (Photo by Arne Dedert/picture alliance via Getty Images)Germany's financial regulator on Tuesday warned that the country's banking system is undergoing a real-life stress test amid the current volatility, also predicting significant weakness for the commercial property sector. Pressures facing the sector have intensified as many central banks push up their benchmark rates, leading to specific market dislocations. Mark Branson, president of the German regulator BaFin (Federal Financial Supervisory Authority), told CNBC that Germany has seen the same impacts from higher rates as many other nations around the world. He said that the German banking system "has taken some pain," but highlighted that there is "no systemic danger" and the financial system has managed to absorb the impacts of higher rates well. However, problems can arise when banks take on additional risk and fail to keep up with a continued and sharp increase in rates.
Germany calls for global regulation of crypto industry
  + stars: | 2022-12-14 | by ( ) www.reuters.com   time to read: +2 min
FRANKFURT, Dec 14 (Reuters) - Germany's top regulator this week called for global regulation of the cryptocurrency industry to protect consumers, prevent money laundering and preserve financial stability. Branson said a "crypto spring" may follow what has been a "crypto winter" but that the industry that emerges is likely to have more links with traditional finance, further increasing the need for regulation. "Now is the time for serious cryptocurrency regulation," he said. Regulation of the industry has been loose and patchwork. Last month he said in an interview on the ECB's website that "not all crypto business models are serious".
German regulator calls on banks to increase risk provisions
  + stars: | 2022-11-14 | by ( ) www.reuters.com   time to read: 1 min
FRANKFURT, Nov 14 (Reuters) - The president of Germany's financial regulator, Mark Branson, on Monday called on banks to increase their risk provisions while earnings are strong. Branson, speaking at a conference in Frankfurt, praised U.S. banks for setting aside "as much as they could". "Now is the time" for banks to set aside funds for a rainy day, while they are earning well, he said. Some did increase their risk provisions somewhat. Reporting by Tom Sims and Marta Orosz Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.
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