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Jul 9, 2013

Big US banks face tougher lending rules than global rivals

WASHINGTON, July 9 (Reuters) – The eight biggest U.S. banks
will need to hold twice as much equity capital as required
globally under a new plan proposed by regulators on Tuesday
intended to protect taxpayers from any future costly bailouts.

The rule would impose a so-called leverage ratio, a hard cap
on how much banks can borrow to fund their business, requiring
them to hold equity capital equal to 6 percent of total assets.

Jul 9, 2013

U.S. regulators plan tough borrowing caps for big banks

WASHINGTON, July 9 (Reuters) – U.S. regulators on Tuesday
launched a plan to force the country’s largest banks to hold
twice as much equity capital as required globally and protect
taxpayers against any future costly bailouts.

The proposed new rule would subject the country’s eight
largest banks to a hard cap on how much they can borrow to fund
their businesses. It imposes a so-called leverage ratio that
would require them to hold equity capital equal to 6 percent of
total assets, regulators said.

Jul 9, 2013

U.S. bank regulators propose 6 percent leverage ratio

WASHINGTON (Reuters) – U.S. regulators on Tuesday are set to propose a plan that would force the country’s largest banks to hold twice as much equity capital than required by the global Basel III bank capital standards.

The eight largest banks would be subject to a leverage ratio of 6 percent, the three regulators said, representing a hard cap on how much a bank can borrow to fund its business.

Jul 9, 2013

US bank regulators propose 6 pct leverage ratio

WASHINGTON, July 9 (Reuters) – U.S. regulators on Tuesday
are set to propose a plan that would force the country’s largest
banks to hold twice as much equity capital than required by the
global Basel III bank capital standards.

The eight largest banks would be subject to a leverage ratio
of 6 percent, the three regulators said, representing a hard cap
on how much a bank can borrow to fund its business.

Jun 27, 2013

U.S. Bank, partner to refund $6.5 million over auto lending

WASHINGTON (Reuters) – U.S. Bancorp’s (USB.N: Quote, Profile, Research, Stock Buzz) U.S. Bank and a nonbank partner will refund about $6.5 million to U.S. military personnel over auto lending practices regulators said were deceptive, the Consumer Financial Protection Bureau said on Thursday.

U.S. Bank and its partner, Dealers’ Financial Services of Lexington, Kentucky, failed to properly disclose all of the fees associated with auto loans made through a program targeted at military personnel, the bureau said.

Jun 19, 2013

U.S. banks failed to follow mortgage standards -monitor

WASHINGTON, June 19 (Reuters) – Four of the largest U.S.
mortgage servicers failed to adhere to some of the new standards
set out in a landmark settlement meant to help consumers facing
foreclosure, a court-appointed monitor said on Wednesday.

Bank of America, Citigroup, JPMorgan Chase
and Wells Fargo need to make improvements in
handling loan modifications, said Joseph Smith, who oversees the
$25 billion settlement between banks and the U.S. government.

Jun 18, 2013

M&T Bank to fix anti-money laundering flaws, Fed says

WASHINGTON, June 18 (Reuters) – M&T Bank Corp will
put a comprehensive plan in place to fix problems with its
anti-money laundering policies that had caused regulators to put
a hold on its $3.7 billion bid to buy Hudson City Bancorp.

Buffalo, New York-based M&T Bank will submit a plan to the
U.S. Federal Reserve to improve its monitoring and reporting of
suspicious activity, the regulator said.

Jun 14, 2013

Exclusive: Deutsche Bank ‘horribly undercapitalized’ – U.S. regulator

WASHINGTON (Reuters) – A top U.S. banking regulator called Deutsche Bank’s capital levels “horrible” and said it is the worst on a list of global banks based on one measurement of leverage ratios.

“It’s horrible, I mean they’re horribly undercapitalized,” said Federal Deposit Insurance Corp Vice Chairman Thomas Hoenig in an interview. “They have no margin of error.”

Jun 14, 2013

Deutsche Bank “horribly undercapitalized”-US regulator

WASHINGTON, June 14 (Reuters) – A top U.S. banking regulator
called Deutsche Bank’s capital levels “horrible” and
said it is the worst on a list of global banks based on one
measurement of leverage ratios.

“It’s horrible, I mean they’re horribly undercapitalized,”
said Federal Deposit Insurance Corp Vice Chairman Thomas Hoenig
in an interview. “They have no margin of error.”

Jun 6, 2013

Fed’s Raskin calls for simpler capital rules, decries delays

WASHINGTON (Reuters) – A Federal Reserve official on Thursday will call on regulators to write simpler capital rules, saying delays in finishing up the requirements could hurt banks’ balance sheets.

Fed Governor Sarah Bloom Raskin said in remarks prepared for a speech at Ohio Bankers Day in Columbus that regulators should reduce market uncertainty by writing rules to implement the international capital accord known as Basel III.