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Jan 30, 2015

Fed to propose margin rule aimed at shadow banking -Tarullo

WASHINGTON, Jan 30 (Reuters) – The Federal Reserve plans to
propose a rule that applies minimum margin requirements to
certain forms of securities financing deals, in a move aimed at
reining in the shadow banking industry, a top Fed official said
on Friday.

Fed Governor Daniel Tarullo, the central bank’s chief
overseer of its bank regulation, said the Fed aims to take a
margin requirement rule passed last year by the Financial
Stability Board (FSB), a global group of regulators, and apply
it to the United States.

Jan 21, 2015

Top U.S. financial risk watchdog pledges more transparency

Jan 21 (Reuters) – The top U.S. financial risk watchdog
pledged to revise the procedures used to designate firms as
super-risky and make them more transparent on Wednesday, after a
flood of criticism from insurers and asset managers that the
process was too opaque.

Staff read out a number of proposals at a meeting of the
Financial Stability Oversight Council (FSOC), which acts to
identify which parts of the financial system are “too big to
fail.”

Jan 13, 2015

U.S. insurer MetLife to sue regulators over ‘systemic’ tag

WASHINGTON, Jan 13 (Reuters) – MetLife said it would
file on Tuesday a lawsuit against regulators subjecting it to
tougher oversight, challenging their verdict the firm harbors
enough risk to endanger the financial system in a crisis.

The company, the largest U.S. life insurer, unsuccessfully
contested the decision by the Financial Stability Oversight
Council (FSOC) in a hearing last month, and a lawsuit was its
last resort to escape being overseen by the U.S. Federal
Reserve.

Jan 13, 2015

MetLife could further complicate Fed’s new role as insurance cop

WASHINGTON (Reuters) – The Federal Reserve’s new role as the top U.S. insurance regulator will be in the spotlight this week as MetLife decides whether to challenge tougher oversight by the central bank in court.

The Fed would face months of scrutiny of its fledgling oversight of the sector if MetLife sues regulators over their decision to tag it as a firm that has the potential to destabilize the wider financial system.

Dec 24, 2014

MF Global Holdings to pay $100 mln fine in CFTC settlement

WASHINGTON, Dec 24 (Reuters) – The U.S. Commodity Futures
Trading Commission said on Wednesday it had fined MF Global
Holdings Ltd for wrongdoing during the collapse of the futures
brokerage, but will continue its lawsuit against the firm’s
former chief, Jon Corzine.

A federal judge in Manhattan approved a settlement in which
the company will pay a $100 million fine and be jointly
responsible for returning $1.212 billion in client funds that
another unit had been ordered to restitute last year.

Dec 22, 2014

U.S. CFTC fines Deutsche Bank $3 mln over customer fund flaws

WASHINGTON, Dec 22 (Reuters) – The U.S. Commodity Futures
Trading Commission on Monday ordered Deutsche Bank
to pay a $3 million fine over charges that it had failed to
properly invest customer funds and had made other mistakes in
the process.

The bank also failed to keep accurate financial reports,
though none of the violations resulted in any customer losses,
according to the CFTC, which oversees derivatives trading.

Dec 21, 2014

Exclusive: Southwest’s oil swap trade waiver raises CFTC questions

WASHINGTON (Reuters) – Last month’s move by the U.S. commodities regulator to let Southwest Airlines Co keep its multibillion-dollar oil trades secret for 15 days offered the world’s biggest low-cost carrier a break it has been seeking for three years.

However, the decision to grant the airline an exemption from rules calling for greater derivatives transparency raised concerns about its market impact and sparked a debate among regulators, according to people familiar with the approval process.

Dec 21, 2014

Southwest’s oil swap trade waiver raises CFTC questions

WASHINGTON, Dec 21 (Reuters) – Last month’s move by the U.S.
commodities regulator to let Southwest Airlines Co keep
its multibillion-dollar oil trades secret for 15 days offered
the world’s biggest low-cost carrier a break it has been seeking
for three years.

However, the decision to grant the airline an exemption from
rules calling for greater derivatives transparency raised
concerns about its market impact and sparked a debate among
regulators, according to people familiar with the approval
process.

Dec 21, 2014

Southwest’s oil swap trade waiver raises CFTC questions

WASHINGTON, Dec 21 (Reuters) – Last month’s move by the U.S.
commodities regulator to let Southwest Airlines Co keep
its multibillion-dollar oil trades secret for 15 days offered
the world’s biggest low-cost carrier a break it has been seeking
for three years.

However, the decision to grant the airline an exemption from
rules calling for greater derivatives transparency raised
concerns about its market impact and sparked a debate among
regulators, according to people familiar with the approval
process.

Dec 19, 2014

MetLife harbors stability risks, U.S. regulators say

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.

    • 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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