Neue Auflagen für inländische und ausländische Banken

“New requirements for domestic and for foreign banks.” A week after the EU passed a new package of bank reforms on 16 Apr 2013 intended to force European banks to operate on a more stable basis, an EU commissioner sent a letter to the USA’s Federal Reserve criticizing the Fed’s intention to impose similar terms not just on US banks within the US but on foreign banks in the US as well.

The key points in the Fed’s proposal would be to require large foreign banks to create North American holding companies for their activities there and to meet the standards US banks must fulfill for capital reserves and liquidity buffers in order to make the banks less vulnerable to failure. The Fed said in addition that the new rules were intended to mitigate risk from foreign banks’ recent tendencies in the USA to bet more strongly in capital markets, on short-term capital. The proposed provisos would apply for “large” foreign banks in the US, defined as having >$50 billion internationally and >$10 billion in the USA. Such as Barclays and the embroiled-in-scandal Deutsche Bank, “both of which have attempted to use modifications under corporate law to avoid stricter constraints in America” and both of which have received large bailouts from US taxpayers despite being foreign, the F.A.Z. pointed out.

This seems like a smart initiative taken by the US government and apparently before other governments such as the EU’s. There are dystopian science fiction novels about future earths in which only domestic banks are regulated and foreign banks go a-raiding abroad until they don’t much resemble banks any more.

(NOY ah   OW! f log en   foor   in LEND ish en   oond   ow! SLEND ish en   BONK en.)

die schönste Nebensache der Welt

“The most beautiful thing of secondary importance in the world.” Some people think this is sex, some soccer. N.B.: What if you’re in outer space?

(Dee SHUN steh NABE en ZOCK eh der VELT.)

Ijon Tichy: Raumpilot

“Ijon Tichy: Space Pilot.” Recent science fiction comedy series loosely based on stories by Stanisław Lem. Deliberate use of kitchen implements and a Berlin apartment in the sets.

(EE yon TEE hee: R OW! M pee loat.)

Raumpatrouille Orion

“Space Patrol Orion.” A 1966 German TV space opera. Famous for sets that used strings, kitchen implements and empty yogurt containers. The actresses’ costumes were also somewhat unusual.

(R OW! M pot roux eel OR ee on.)

die Macht

The Force.


Raumschiff Entenscheiss

“Spaceship Duck Poop.” Pun on the original Star Trek’s original German title.

(R OW! M shiff ENT en scheiss.)

Raumschiff Enterprise

“Spaceship Enterprise,” the original German title of the original Star Trek television series.

(R OW! M shiff ENT er prize.)


“Future music.” Dreams about the future. Pie in the sky.

(Tsoo coon fts mooz EEK.)

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