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Nov 1, 2013

U.S. Fed sets tough tests in annual bank health war games

WASHINGTON, Nov 1 (Reuters) – Banks in the United States
will have to test whether they can survive a halving of the
stock market during a severe U.S. recession, the Federal Reserve
said on Friday, as it set the rules for next year’s model runs
to gauge the health of the financial system.

Eight large U.S. banks must also test for the first time
whether they can cope with the hypothetical default of their
largest trading partner, the Fed said in documents laying out
the so-called “stress tests”.

Oct 30, 2013

US House votes to tweak Dodd-Frank in bank victory

WASHINGTON, Oct 30 (Reuters) – The U.S. House of
Representatives voted on Wednesday to scale back a much-debated
provision of the Dodd-Frank Wall Street reform law, handing bank
lobbyists a token victory in their fight against the tougher
rules.

Big banks and their allies in Congress have been pushing to
undo part of the law that calls for walling off risky
derivatives trading by investment banks from government
backstops such as deposit insurance. They say the rule is
unnecessary and would be expensive for banks.

Oct 30, 2013

U.S. regulator says vote on Volcker rule nearing

WASHINGTON (Reuters) – U.S. regulators hope to vote in December on a rule that would bar banks from gambling with their own money, the nation’s top derivatives regulator said on Wednesday, in a sign that the acrimonious process of writing the Volcker rule is drawing to an end.

The rule, which was devised by former Federal Reserve Chairman Paul Volcker and is part of the 2010 Dodd-Frank Wall Street reform law, will prohibit Wall Street banks from risky trades in financial markets using their own capital, known as proprietary trading.

Oct 30, 2013

U.S. swaps watchdog votes on client protection rules

WASHINGTON, Oct 30 (Reuters) – The U.S. derivatives
regulator met on Wednesday to adopt a plan to better protect
customers of futures brokers after the collapse of MF Global
left clients struggling to get back their cash.

The new customer protection rule will require brokers – the
biggest of whom are units of large Wall Street banks – to
tighten up reporting and disclosure procedures, and set aside
their own cash to cover client shortfalls.

Oct 28, 2013

Fed to outline bank commodity policy early 2014 -source

WASHINGTON/LONDON, Oct 28 (Reuters) – The U.S. Federal
Reserve may not unveil its plans for regulating Wall Street’s
commodity trading business until early next year, a person
briefed on the matter said, deferring a decision on the
politically fraught debate into 2014.

The timing confounds any expectations that the regulator
would make its views known before a second Senate hearing
expected next month into the rigging of aluminum and other
markets, at which Fed officials are due to testify.

Oct 28, 2013

Fed may outline commodity policy for banks early 2014 -source

WASHINGTON, Oct 28 (Reuters) – The U.S. Federal Reserve may
not unveil its plans for regulating Wall Street’s commodity
trading business until early next year, a person briefed on the
matter said, deferring a decision on the politically fraught
debate into 2014.

The timing confounds any expectations that the regulator
would make its views known before a second Senate hearing
expected next month into the rigging of aluminum and other
markets, at which Fed officials are due to testify.

Oct 24, 2013

Cash-starved U.S. swaps watchdog to furlough staff in 2014

WASHINGTON (Reuters) – The U.S. derivatives regulator said it could send staff home for several weeks next year because of budget cuts, just as takes on crucial new responsibilities in overseeing the $630 trillion market.

The Commodity Futures Trading Commission, whose powers were vastly expanded after the 2007-2009 financial crisis, depends on Congressional appropriations for its budget, unlike U.S. bank regulators, which are self-funded.

Oct 24, 2013

U.S. sets bank liquidity plan, says tougher than Basel

WASHINGTON (Reuters) – U.S. regulators unveiled a plan on Thursday for banks to hold enough assets they can easily sell to survive a credit crunch, calling on U.S. banks to meet new liquidity standards two years before most foreign banks must comply.

The proposal, which tells banks to hold enough liquid assets to meet their cash needs for 30 days, is a key plank of the Basel III capital rules agreed globally to make banks safer after the 2007-09 credit crisis.

Oct 24, 2013

US Fed launches bank liquidity plan, says tougher than Basel

WASHINGTON, Oct 24 (Reuters) – The U.S. Federal Reserve on
Thursday unveiled a plan requiring banks to hold enough assets
they can easily sell to survive a credit crunch, which it said
was tougher than what international regulators demanded.

The plan, which will tell banks to hold enough liquid assets
to meet their cash needs for 30 days, is a key plank of the
Basel III capital rules agreed globally to make banks safer
after the 2007-09 credit crisis.

Oct 23, 2013

U.S. swaps regulator to vote on commodity limits rule

WASHINGTON (Reuters) – The U.S. derivatives regulator will meet next month to adopt a rule that will curtail Wall Street’s ability to speculate with commodities, a measure investment banks are fighting in court.

The Commodity Futures Trading Commission is revising the rule on so-called position limits, even as its lawyers are preparing to defend an earlier version knocked down by a U.S. court last year.

    • 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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