View brief in full here (links externally to MFA website).

The COMPLIANCE DATE for 77 FR 38421 should read July 27, 2013. View correcting release here (links externally to GPO website).

Bank for International Settlements June 29, 2012 Following the publication of final rules on global systemically important banks in November, the Basel Committee on Banking Supervision is now seeking public comment on guidelines for its proposed framework on the assessment methodology and higher loss absorbency requirement for domestic systemically important banks. Comments on the consultative document should be submitted by August 1, 2012.

Financial Services Authority June 27, 2012 The Financial Services Authority has imposed a fine of £59.6 million, its largest ever, on Barclays Bank PLC for misconduct relating to the setting of LIBOR and EURIBOR including: making submissions influenced by its interest rates derivatives traders; seeking to influence the EURIBOR submissions of other banks; minimising its LIBOR submissions to avoid negative media comment; and failing to have adequate systems and controls in place over its submission processes. The bank has also settled with CFTC and the DOJ for a total of $360 million. RBS and

Financial Services Authority June 29, 2012 A review by the FSA of the sale of interest rate hedging products to small and medium sized businesses in the UK has revealed serious failings by Barclays, HSBC, Lloyds and RBS. The banks have agreed to provide redress for customers who purchased the most complex products, and have agreed to cease selling interest rate structured collars to retail customers.