Guardian: “Jeremy Leggett among 100 signatories to letter opposing oil firm’s likely influence over university’s climate change studies.” “The veteran environmental campaigners Jonathon Porritt and Jeremy Leggett are among 100 past and present students and staff who are accusing Oxford University of hypocrisy for accepting funding from
Basle bank liquidity rules watered down after intense lobbying by banks.
FT: The first ever global liquidity standards will be less onerous than expected and not be fully enforced until 2019, four years later than expected. ““Aimed at preventing a repeat of the 2008 bank collapses, the “liquidity coverage ratio” (LCR) announced on Sunday marks the first time that global regulators have sought to require individual banks to hold enough cash and easy-to-sell assets to allow them to survive a short-term market crisis. The measure is the second plank of the Basel III reform package. …The final rule approved by the supervisors of the Basel Committee on Banking Supervision is significantly more flexible than the draft version put forward more than two years ago. …When the Basel group, which includes representatives from 27 major financial centres, first agreed in 2010 to put in place liquidity rules, the draft said that only government bonds and top-quality corporate bonds would count toward the buffers. But the industry lobbied hard to get the rules watered down, arguing that the draft version would tie banks too closely to sovereign debt and constrain their ability to lend to the wider economy.”