Senior bankers global regulators to keep the UK competitive pressures

The US Capitol: bankers are in Washington this weekend lobbying on the sidelines of the International Monetary Fund meetingThe U.S. Capitol: banks are in Washington this weekend of lobbying on the fringes of the meeting of the Fund currency International Photo: AFP/Getty Images

The group - led by Marcus Agius, Chairman of Barclays.John Varley, Barclays outgoing Chief Executive; and Sir Philip Hampton, Chairman of the Royal Bank of Scotland - are lobbying world leading regulatory agencies to achieve a workable solution that will not hamper British banks against their international counterparts.

They want to set out and agree on a standard international bonus to put an end to disparities in compensation for financial services regulators approach.

Lobbying is an admission the United Kingdom banks have progressed as much as they can on the subject as individuals and must now act collectively if change is produise.Le when, before the end of the year where premiums are defined, is the key that men are willing to avoid public reaction is likely to occur when the new year earnings levels are published.

It is known that trio held a number of conversations with George Osborne, the Chancellor on the subject, as well as counsel for the Board and also took the floor to Hector Sants, Executive Director of the Financial Services Authority.Chacun men is in Washington this weekend, lobbying on the sidelines of the meeting of the international monetary fund and are most likely the situation with Mr. Osborne.

Mr. Osborne threatened banks this weekend with a new tax bonus, a movement which has been described as "unnecessary" by a person with knowledge of the objectives of three men.

Although no workable solution has yet been taken, the goal is to provide a form any international Covenant which could ensure that banks and bankers operating the United Kingdom are not penalized.

At the same time, it would be the focus throughout the different international rules that determine what proportion of bankers allowance may be paid in cash.

The last push comes that the Committee of European banking supervisors of the unveiled rules mean actually based the United Kingdom bankers could receive 10pc just for their annual premiums after taxes and accruals accounting.

Senior banking source said: "" forging ahead with its proposals, the UK Europe will in its own way and they seem not all .c ' is all a bit of a mess. ""

Men are operated under the auspices of the Association of British bankers, which Mr. Agius is President actuel.Il refers to an establishment of a consensus between the banks of the United Kingdom that something must change on compensation, even if it is known that a number of major banks investment operations in London resistant to any form of is déplacer.Une key concern is the impact of the status quo will be the retention and recruitment industry.

A number of banks investment admitted in the Sunday Telegraph that it becomes difficult to recruit bankers based in Asia or the United States in positions in London, but for reverse moves are flooded with applications

New thrust to reach a form any conclusion on line compensation comes just a few days after Mr. Agius organized a poor bankers at the residence on the perception of the public house industry forum.

All parties have declined or made no comment.

Separately Deutsche Bank Director General Josef Ackerman said regulators should not shake banking rules on their own without consensus international.Prenant speaking at the annual meeting of the international Institute of finance, Mr. Ackerman, its President, said: "it will be undermining the process and increase the cost of regulatory reform."

Mr. Ackerman said Basel new rules for banks to double their capital base were "demanding" and it is "essential" industry should be given time to implement the changes so that they do not compromise "ability of credit banks."


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