An institution with money-printing powers should have no difficulty keeping the lights on. But could it continue to act effectively after depleting its net worth? Former Bank of England policymaker Willem Buiter posed that question in early 2008, and it’s currently the biggest challenge facing his long-time research collaborator Urjit Patel, the Reserve Bank of India (RBI) governor. Under pressure ...

Bloomberg In the middle of UBS Group AG’s six-week tax trial in Paris, Presiding Judge Christine Mee’s tone changed. And that may have given a sign of what the bank can expect in a case that could cost it as much as $6 billion. The hearings, which have ended, started well for the Zurich-based bank. A team of 20 high-powered ...

Bloomberg Nordea Bank Abp just dropped off the list of global banks deemed too big to fail, but that doesn’t mean it can hold less regulatory capital. The Financial Stability Board removed Nordea from a group it defines as global systemically important banks (G-SIB). A G-SIB needs to have more capital than other banks, so the assumption is that no ...