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Jul 21, 2015

Fed tells major Chinese bank to do more to fight money laundering

LOUIS (Reuters) – The Federal Reserve told China Construction Bank Corp to do more to fight money laundering on Tuesday, in the first ever enforcement action by the U.S. central bank against one of China’s four largest state-owned banks.

Within 60 days, the bank should submit plans for compliance and customer due diligence programs to help curb money laundering and suspicious transactions, the Fed said.

Jul 20, 2015

New Fed rule tells 8 biggest U.S. banks to bump up capital

WASHINGTON, July 20 (Reuters) – The Federal Reserve on
Monday adopted a rule for the eight largest U.S. banks to hold
more equity capital, amid fears on Wall Street that the measure
may make it less profitable.

The rule was largely similar to when it was proposed in
December, when the U.S. central bank and bank regulator said the
firms would face a surcharge of between 1 percent and 4.5
percent of their assets.

Jul 20, 2015

Fed to adopt new capital surcharges for 8 largest U.S. banks

WASHINGTON, July 20 (Reuters) – The Federal Reserve will
meet on Monday to adopt a new rule for the eight largest U.S.
banks to hold more equity capital, amid fears on Wall Street
that the measure may make it less profitable.

The rule was largely similar to when it was proposed in
December, when the U.S. central bank said the banks would face a
surcharge of between 1 percent and 4.5 percent of their assets.

Jul 13, 2015

U.S. watchdogs urge review of Treasury market rules after Oct. 15 price swings

WASHINGTON (Reuters) – The rules for the Treasury market should be reviewed, U.S. regulators said on Monday, as they released a much-anticipated first study into wild price swings on Oct. 15 in that market, an event many have blamed on overly tight regulation.

The data showed no single cause for one of the biggest price jumps since 1998 on a day when there were no significant policy announcements, the five regulatory agencies said.

Jul 12, 2015

Congress promises rough ride for any nuclear deal with Iran

WASHINGTON (Reuters) – The top Republican in the U.S. Senate cast doubt on Sunday on whether President Barack Obama would be able to win approval in Congress for any nuclear deal with Iran, and some Democrats also expressed reservations.

“I think it’s going to be a very hard sell, if it’s completed, in Congress,” Senate Majority Leader Mitch McConnell told “Fox News Sunday”. “We already know it’s going to leave Iran as a threshold nuclear state.”

Jul 8, 2015

Washington says Greek meltdown would be geopolitical mistake

WASHINGTON, July 8 (Reuters) – The Obama administration
warned Europe on Wednesday that allowing a financial and
economic meltdown in Greece would be a geopolitical mistake.

U.S. Treasury Secretary Jack Lew said he has been in
constant contact with European officials regarding Greece’s debt
crisis, which threatens to compromise Europe’s monetary union
and create instability in a region critical to U.S. interests.

Jul 8, 2015

Washington worries China stock crash could hit Chinese economy

WASHINGTON, July 8 (Reuters) – The Obama administration is
worried that China’s stock market crash could hurt the country’s
economy and get in the way of Beijing’s economic reform agenda.

“The concern, that is a real one, is what does it mean about
long-term growth in China,” Treasury Secretary Jack Lew said on
Wednesday.

Jul 6, 2015

U.S. banks post detailed crisis plans to avoid breakup threat

WASHINGTON (Reuters) – The largest Wall Street banks on Monday published detailed manuals of how to shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators.

After the 2007-09 financial crisis, the banks were required to submit the so-called “living wills” each year to show how they would proceed though an ordinary bankruptcy during a crisis without quietly relying on government support.

Jul 1, 2015

Fed, industry at odds over bond market liquidity

WASHINGTON (Reuters) – The Federal Reserve and major banks are at odds over whether conditions in the U.S. bond market are deteriorating or merely in a temporary state of flux as investors adapt to new rules, with policymakers and lenders disagreeing over even basic metrics to assess the problem.

Over the last week a majority of the Fed’s five governors have spoken out on the issue, saying they aren’t convinced that markets for U.S. Treasury bonds are facing the liquidity problems that some investors have warned could become a source of financial instability.

Jun 29, 2015

U.S. swaps regulator CFTC to close cross-border loophole

WASHINGTON (Reuters) – The U.S. derivatives market regulator on Monday proposed a rule

for safety margins for uncleared swaps to close a loophole Wall Street banks have used to duck new trading provisions by shifting business abroad.

    • About Douwe

      "I head up the Financial Services team in London. We're 20 journalists, covering M&A, IPOs, restructuring, banking, real estate, investment management, hedge funds and private equity. I've worked for Reuters in Zurich, Frankfurt and Amsterdam."
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