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WireTap 0900 09/01/12

A round-up of the key stories across the specialist financial media, including news that the EU's newly gained powers over national budgets are soon to be put to the test in Belgium.

EU deficit-control powers face test in Belgium

The EU’s powers over national taxing and spending are to face their first test as the European Commission pushes Belgium to make deeper savings.

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SNB chief to face grilling over currency scandal

Embattled Swiss National Bank Chief Philipp Hildebrand faces a grilling by a parliamentary committee on Monday about a controversial currency trade made by his wife three weeks before he imposed a cap on the soaring Swiss franc.

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RBS executive in line for £4m bonus 

The head of Royal Bank of Scotland’s embattled investment bank is in line to receive a special bonus this year of more than £4m, an award that will be contentious given the government’s vow to crack down on excessive executive pay.

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U.S. moves toward legal action against Swiss bank: sources

US authorities are taking steps towards legal action against Wegelin & Co, one of Switzerland’s last pure private banks, on the grounds that it enables wealthy Americans to evade taxes.

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US regulators eye new futures rules

US financial regulators have raised the idea of extending investor safeguards suggested for certain derivatives to the futures market

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China money supply growth exceed estimates

China’s December lending and money supply growth exceeded estimates suggesting that monetary conditions may be easing.

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