The Basel committee on banking supervision , which sets capital standards for banks around the world, published a consultation document on December 17th that was more stringent than many bankers had expected.

ECONOMIST: The world this week

The full details of FATCA have yet to be ironed out between the U.S. Treasury and the IRS, but one of its requirements will include a document for new account holders to sign that waives whatever rights they may have under local banking secrecy laws.

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The employment contract of former Salomon Smith Barney telecom analyst Jack Grubman granted him compensation both for bringing in specific investment banking deals and for generating stock trading volume in the issues he covered, according to an attorney familiar with the document.

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