Chief Correspondent M&A and investment banking
Douwe's Feed
Dec 4, 2014

U.S. swaps regulator wants tighter clearing house rules

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.

Dec 2, 2014

Tight new rules may boost shadow banks, U.S. risk watchdog warns

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.

Nov 25, 2014

U.S. Fed plans enhanced capital standards for GE unit

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.

Nov 18, 2014

Exclusive – Europe eyes longer respite for U.S. swaps clearers: source

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]

Nov 18, 2014

Europe eyes longer respite for U.S. swaps clearers – source

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
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.

Nov 17, 2014

Senate panel to grill Fed’s Tarullo, bankers over commodities

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.

Nov 11, 2014

UK, U.S., Swiss close in on forex settlement with top banks

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.

Nov 6, 2014

U.S. regulators to join UK in forex fines for banks

WASHINGTON/LONDON, Nov 6 (Reuters) – U.S. regulators plan to
join their UK peers in a multi-billion-dollar settlement with a
group of the biggest global banks accused of manipulating the
foreign exchange market, sources familiar with the matter said,
adding the deal could come as early as next week.

The U.S. Commodity Futures Trading Commission, which
oversees futures and swaps trading, aims to announce its
settlement around the same time as London’s Financial Conduct
Authority, said one of the sources, who was not authorized to
speak publicly.

Nov 4, 2014

Exclusive: MetLife hires top lawyer in bid to escape tougher oversight

WASHINGTON (Reuters) – MetLife has retained a top Washington lawyer in its bid to escape a plan by the U.S. financial risk council to subject it to far tougher rules, a sign the largest U.S. insurer may be preparing a legal challenge.

A MetLife spokesman told Reuters the company had retained Eugene Scalia, a partner at law firm Gibson Dunn LLP, who has successfully fought major regulatory decisions by other agencies.

Nov 3, 2014

MetLife hires top lawyer in bid to escape tougher oversight

WASHINGTON, Nov 3 (Reuters) – MetLife has retained a
top Washington lawyer in its bid to escape a plan by the U.S.
financial risk council to subject it to far tougher rules, a
sign the largest U.S. insurer may be preparing a legal
challenge.

A MetLife spokesman told Reuters the company had retained
Eugene Scalia, a partner at law firm Gibson Dunn LLP, who has
successfully fought major regulatory decisions by other
agencies.

    • 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."
    • More from Douwe

    • Follow Douwe