Finance heads of Europe’s largest economies have urged banks to step up
efforts to disclose their sub-prime losses so as to restore investor confidence
in the markets.
At a Paris meeting yesterday, minsters from France, Germany, Italy and the UK
agreed to increase the pace of improving transparency, co-ordinating national
regulators, reviewing the role of credit rating agencies and strengthening
management of liquidity risks.
French minister Christine Lagarde called on banks to ‘accelerate’ their
efforts to identify and write down bad debts to ‘clearly improve the level of
confidence in the markets’.
‘We are united in our determination to make progress and to make progress
quickly,’ said UK chancellor of the exchequer Alistair Darling.
Report argues that the government must change the way it makes tax and budget decisions
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal