Nov 3 (Reuters) – U.S. banks are urging Treasury Secretary
Timothy Geithner to push back on an international proposal
meant to keep large banks liquid during a crisis, arguing
aspects of the plan could put them at a competitive
disadvantage against international rivals.
The Clearing House, a lobbying group, argued in a Nov. 2
letter to Geithner that the proposed liquidity standards being
worked on by international regulators should be changed to
allow more assets to qualify.
WASHINGTON (Reuters) – Thomas Hoenig likes to find Wall Street’s raw nerves and then hit them with a hammer.
Do we need large banks? “We must break up the largest banks.”
Will new capital standards put large U.S. banks at a competitive disadvantage? “That assertion is nonsense.”
WASHINGTON, Nov 1 (Reuters) – The new Consumer Financial
Protection Bureau will begin reviewing regulations this month
to determine which rules can be simplified or eliminated, the
agency’s acting head said in testimony prepared for a
congressional hearing scheduled for Wednesday.
The agency began operating in July and is charged with
overseeing markets for products such as credit cards and
By Dave Clarke
(Reuters) – Large banks on Tuesday began contacting borrowers who could receive financial compensation for problems that occurred during a home foreclosure, but getting a payment will likely take months if not more than a year.
Banks and other mortgage servicers have begun mailing letters to more than 4 million borrowers who can have their cases reviewed by independent consultants hired by the banks, U.S. banking regulators announced.
Nov 1 (Reuters) – Large banks on Tuesday began contacting
borrowers who could receive financial compensation for problems
that occurred during a home foreclosure, but getting a payment
will likely take months if not more than a year.
Banks and other mortgage servicers have begun mailing
letters to more than 4 million borrowers who can have their
cases reviewed by independent consultants hired by the banks,
U.S. banking regulators announced.
WASHINGTON (Reuters) – The financial risk council held a conference call on Monday to discuss developments related to MF Global Holdings Ltd, according to a Treasury Department official.
The Financial Stability Oversight Council, which is headed by the Treasury Department, received “a series of oral reports” from the Securities and Exchange Commission, the Commodity Futures Trading Commission and the Federal Reserve, the official said.
WASHINGTON (Reuters) – The Volcker rule has created a new battlefield over Wall Street pay that banks fear will send their star traders and hedge fund advisers fleeing.
The roughly 300-page proposal that was released earlier this month is fuzzy at best, but it makes clear that banks cannot pay their in-house top talent any type of bonuses that could encourage proprietary trading.
WASHINGTON (Reuters) – The Federal Reserve announced on Monday that it had approved a final rule on the blueprints large banks will have to submit to U.S. regulators showing how they can be dismantled in the event of failure.
The rule was written jointly with the Federal Deposit Insurance Corp, which approved it on September 13. Both agencies had to approve the regulation for it to become effective.
WASHINGTON, Oct 13 (Reuters) – The new U.S. Consumer
Financial Protection Bureau said on Thursday that it will make
oversight of the mortgage servicing industry a top priority as
it ramps up its oversight of banks.
Numerous state and government agencies are examining bank
foreclosure practices and whether the proper legal steps are
being taken by servicers, who collect and manage loan payments,
when a borrower becomes delinquent on a loan.
WASHINGTON (Reuters) – U.S. regulators picking which firms are so big and risky that they could threaten markets proposed on Tuesday to start by looking at non-bank financial firms with at least $50 billion in assets.
The size threshold is just one of many tests financial regulators may use to pick “systemic” firms that will then be overseen by the Federal Reserve and face tough capital and liquidity rules.