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Sep 12, 2014

Bitcoin gets boost as U.S. watchdog approves first swap

WASHINGTON (Reuters) – TeraExchange on Friday launched a swap based on the bitcoin virtual currency, becoming the first to receive approval from a U.S. federal regulator for a financial product based on the budding technology.

The derivative allows clients to protect the value of their bitcoin holdings by locking in a dollar value, offering an insurance against the astronomical price swings that have plagued the computer-generated currency.

Sep 10, 2014

CFTC keeping tabs on LME amid aluminum warehousing crisis

NEW YORK (Reuters) – The U.S. commodities markets regulator is still keeping tabs on the London Metal Exchange as the 137-year-old exchange tries to resolve an ongoing crisis over its warehousing policy that end users say has inflated prices and distorted supplies.

In an interview with Reuters, Timothy Massad, the newly installed chairman of the Commodity Futures Trading Commission (CFTC) said the regulator has been in touch with the LME as it prepares to launch a new aluminum contract in a bid to ease concerns that global aluminum pricing is broken.

Sep 10, 2014

U.S. regulator would welcome delay of EU clearing rules

WASHINGTON (Reuters) – A top U.S. regulator said on Wednesday he would welcome a delay by the European Union that gave more time to resolve a conflict with Washington over making derivatives markets safer.

Reuters reported last week that the EU is discussing whether to move a deadline by which U.S. clearing houses, which act as go-betweens for buyers and sellers, must meet EU rules when doing business there.

Sep 4, 2014

MetLife contesting ‘systemic’ tag by U.S. risk council

WASHINGTON (Reuters) – Insurer MetLife on Thursday spoke out strongly against a proposed government designation that would subject it to stronger regulatory oversight, saying it did not rule out any legal means to fight the decision.

MetLife is the third insurer to be tapped for such a designation as “systemically important,” which comes with heavy capital requirements and strict supervision by the Federal Reserve comparable to that of the largest banks.

Sep 4, 2014

Exclusive: U.S., Europe head toward delay in squabble over swaps rules – source

WASHINGTON (Reuters) – The European Union is discussing delaying a deadline for a second time in its efforts to reform the global derivatives market, a source familiar with the matter said, as talks with U.S. regulators have failed to produce a breakthrough on a main sticking point.

The two sides are still at odds on allowing clearing houses, which stand between buyers and sellers of derivatives to reduce risk, to operate in each others’ jurisdictions.

Sep 3, 2014

U.S. regulators adopt tighter rules for banks’ cash needs

WASHINGTON, Sept 3 (Reuters) – U.S. regulators on Wednesday
adopted rules for banks to hold enough easy-to-sell assets to
keep them afloat during a crunch, after many were caught short
of cash during the 2007-09 financial crisis.

The rules, approved by the U.S. Federal Reserve and the
Office of the Comptroller of the Currency, are a new building
block in a global effort to make big banks such as JPMorgan
Chase and Citigroup sturdier and head off a future

Sep 3, 2014

U.S. regulators to vote on liquidity, swap margin rules

WASHINGTON (Reuters) – U.S. regulators met on Wednesday to adopt rules for banks to hold enough easy-to-sell assets to keep them afloat during a crunch, after many were caught short of cash during the 2007-09 financial crisis.

The rules, a key plank of a global agreement to make big banks such as JPMorgan Chase and Citigroup safer, are a new building block as regulators across the world work to make banks sturdier and head off a future meltdown.

Aug 27, 2014

U.S. bank watchdogs to adopt liquidity, margin rules

WASHINGTON (Reuters) – U.S. regulators will next week vote to adopt two major rules to reduce risks to banks, the Federal Reserve said, including a plan for them to hold enough easy-to-sell assets to survive a future financial crisis.

The regulators will also draw up rules for money that buyers and sellers need to set aside – known as margin – when trading swaps without the intervention of a clearing house, which acts like a middleman to make the deals safer.

Aug 27, 2014

U.S. SEC pushes ahead on securitization, rating agency reforms

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission finalized new rules that will give more transparency to asset-backed securities and was prepared to vote later on Wednesday on reforms for credit rating agencies, two issues at the core of the 2007-2009 credit crisis.

The new rules would lay out which information issuers would have to provide to investors on the underlying assets in the securities – which can bundle thousands of assets such as auto or home loans – in a standardized format.

Aug 27, 2014

SEC meeting to look at delayed asset-backed securities overhaul

WASHINGTON (Reuters) – The Securities and Exchange Commission will hold a public meeting on its overhaul of the securitization market on Wednesday to consider rules likely to require greater disclosure of the quality of loans and other assets underlying securities.

The SEC first proposed such rules, addressing a core driver of the 2007-2009 financial crisis, more than four years ago.

    • 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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