The world is now knee-deep in proposals to reform finance. From industry lobbies to global regulators, everyone is brimming with ideas. On May 26th the European Commission became the latest to propose a new bank levy, joining the imf and governments in Europe and America. On the same day America's Financial Accounting Standards Board unveiled proposals requiring banks to report the fair value of loans on their books.rnAs the proposals pile up, so does the estimated cost to the banks. In America analysts at Barclays Capital calculate that the hit from domestic legislation alone could amount to 16% of banks' profits in 2013. Analysts at Credit Suisse reckon European banks' profits in 2012 could fall by 37% because of proposed regulation.
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