WASHINGTON (Reuters) – U.S. regulators on Friday sketched several scenarios in which MetLife could exacerbate a financial crisis, motivating their decision to subject the largest U.S. insurer to tougher oversight.
The Financial Oversight Stability Council, established to prevent a repeat of the 2007-09 credit collapse, said MetLife could disrupt markets if it was forced to sell off illiquid assets should it land in trouble.
WASHINGTON (Reuters) – MF Global has agreed with the Commodity Futures Trading Commission to settle charges of wrongdoing during the collapse of the futures brokerage, which left a $1.6 billion shortfall in customer accounts, a court document showed
But Jon Corzine, the former New Jersey governor and U.S. senator, could still object to the agreement, the document showed, and so could the other individual defendant, MF Global’s former Assistant Treasurer Edith O’Brien.
WASHINGTON, Dec 5 (Reuters) – U.S. Senate and House of
Representatives lawmakers look set to tweak a law next week to
provide relief for large insurance firms from tight capital
rules designed for banks, a source familiar with the
negotiations said on Friday.
The fix of the so-called Collins Amendment to the 2010
Dodd-Frank Wall Street reform law would allow the Federal
Reserve to tailor stricter capital buffers so that they better
suit insurance firms’ business structures.
WASHINGTON, Dec 4 (Reuters) – Regulators should consider
tighter rules for clearing houses given their crucial role as
guardians against market routs after the 2007-2009 credit
crisis, a senior U.S. swaps regulator said on Thursday.
The Commodity Futures Trading Commission should take a first
step towards subjecting clearing houses to more standardized
regular checks of their financial health, known as stress tests,
CFTC Commissioner Mark Wetjen said.
WASHINGTON (Reuters) – Tough new rules to make banks safer after the credit crisis are imperfect and could boost less-regulated activities in the so-called shadow banking system, a top U.S. government research group said on Tuesday.
The Federal Reserve’s annual check of the financial health of the banking system, known as stress tests, for example, fell short on several counts, the Office of Financial Research said in its annual report to Congress.
WASHINGTON (Reuters) – The U.S. Federal Reserve on Tuesday proposed to impose tougher capital standards on General Electric’s finance unit, one of a handful of non-bank firms deemed critically important to the health of the financial system.
The proposed standards would be generally similar to those that apply to large banks, the Fed said. The proposal was open for public comment for a period of 60 days.
WASHINGTON (Reuters) – The European Union will soon push back a deadline by which U.S. clearing houses need to comply with its rules, a source familiar with the matter said, taking the sting out of a dispute with America over how to regulate swaps.
The deadline will be postponed until June 15, 2015, from Dec. 15, said the source, asking not to be named. Reuters first reported in September that Brussels was considering a delay, but such a move was not a foregone conclusion. [ID:nL1N0R42YL]
WASHINGTON, Nov 18 (Reuters) – The European Union will soon
push back a deadline by which U.S. clearing houses need to
comply with its rules, a source familiar with the matter said,
taking the sting out of a dispute with America over how to
The deadline will be postponed until June 15, 2015, from
Dec. 15, said the source, asking not to be named. Reuters first
reported in September that Brussels was considering a delay, but
such a move was not a foregone conclusion.
WASHINGTON (Reuters) – A heavyweight list of bankers and regulators will appear before a U.S. Senate committee this week in a probe into Wall Street’s role in commodity markets and ahead of possible tougher rules from the Federal Reserve.
Markets will weigh every word from Federal Reserve Governor Daniel Tarullo, in charge of financial regulation at the central bank, which in January said it would come out with rules to rein in banks’ activities in the market.
LONDON/WASHINGTON (Reuters) – British and U.S. regulators are poised to levy hefty fines on leading banks in a landmark settlement after a year-long global investigation of allegations of collusion and manipulation in the foreign exchange market.
At least one of the six banks set to be named early on Wednesday by Britain’s Financial Conduct Authority (FCA) was still in 11th-hour negotiations over details of the deal, two sources close to the matter said.