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Forget feathers and beads: At Basel’s carnival Fasnacht, it’s all about politics

Forget feathers and beads: At Basel's carnival Fasnacht, it's all about politics New Orleans, Rio de Janeiro, Venice: All play host to the annual glittering, colorful, and wild extravaganza known as Carnival. But in Basel, Switzerland, the world’s only Protestant masque, celebrations take on a new twist – they get…

Fed to embrace global banking rules: report

The US Federal Reserve is expected to embrace a new global framework that requires giant financial institutions to hold extra capital, The Wall Street Journal reported Monday. Citing unnamed people familiar with the situation, the newspaper said the Fed’s decision to accept the rules laid out by regulators in Basel,…

Central bank chiefs agree on measures for banks

GENEVA (AFP) – Central bank governors agreed Saturday on ways to help reduce the “moral hazard” of leading banks whose failure would bring chaos to world finance. The measures relating to so-called global systematically important banks were designed to strengthen their resilience and included raising their loss absorbency requirements. The…

Regulators looking at ways to cap big banks: source

LONDON (Reuters) – Global banking regulators are discussing how to use extra capital cushions as a means of stopping very big lenders getting even larger, a source familiar with the talks said on Friday. World leaders have asked the Basel Committee on Banking Supervision to flesh out a package of…

G20 finance ministers agree to global economic regulations

G20 finance ministers Saturday agreed tougher rules for big financial firms blamed for the global economic crisis as they tackled the problem of companies deemed “too big to fail”. After a two-day meeting in South Korea, G20 ministers and central bankers said in a statement that the 2008-09 crisis laid…

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