Several major banks are calling for the Basel 3 rules to be changed, warning the current requirements risk severely hampering world trade. Banks including Royal Bank of Scotland, Standard Chartered and HSBC say the Basel 3 rules as they apply to trade finance are unfair, the Financial Times reports. RBS chief executive Stephen Hester indicated last week that RBS was lobbying for rules to be changed when it comes to trade finance.
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The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”
This week, the average U.S. fixed rate for a 30-year mortgage rose to 3.75%. That’s 6 basis points above last week’s 3.69% but still more than a percentage point below the 4.94% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey.