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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
meltdown.

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.

Aug 21, 2014

Fund firms demand greater say in U.S. risk designations

WASHINGTON (Reuters) – A heavyweight coalition of asset managers and insurers demanded a greater say in future decisions by the top U.S. risk council that would subject them to tougher regulation, the groups said in a letter to the U.S. Treasury.

The groups asked that the Financial Stability Oversight Council (FSOC) change its rules by which it designates firms as “systemically important,” a tag that subjects them to far tougher capital and risk management requirements.

Aug 20, 2014

U.S. risk council takes next step in MetLife systemic review

WASHINGTON (Reuters) – The top U.S. financial risk council has gathered enough evidence to decide whether insurer MetLife should be designated as a systemically important firm, a source familiar with the situation said.

Closing the evidentiary record is the last formal step before the Financial Stability Oversight Council can vote on whether to designate MetLife with the tag.

Aug 20, 2014

Fund firms demand greater say in U.S. risk council designations

WASHINGTON, Aug 20 (Reuters) – A heavyweight coalition of
asset managers demanded a greater say in future decisions by the
top U.S. risk council that would subject them to tougher
regulation, the groups said in a letter to the U.S. Treasury.

The groups asked that the Financial Stability Oversight
Council (FSOC) change its rules by which it designates firms as
“systemically important”, a tag that subjects them to far
tougher capital and risk management requirements.

Aug 15, 2014

Exclusive: AIG boosting Washington lobbying effort as hiatus prompted by crisis ends

WASHINGTON (Reuters) – Insurer American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) is ramping up its lobbying team in Washington, almost six years after it halted such efforts following its rescue by the U.S. government during the financial crisis.

Many large companies deploy a handful of staff to provide access to Capitol Hill and the White House, but AIG has employed no officially registered lobbyists since 2009. Some of its government relations positions in Washington, which companies typically use to influence policymaking by regulators and other government officials, have been left vacant.

    • 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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