By Karey Wutkowski
WASHINGTON, Nov 3 (Reuters) – The chairman of the Senate Banking Committee is poised to release a draft bill on financial regulatory reform that meets many of President Barack Obama’s core goals, but it is unclear if it will gain any Republican support, an administration official said on Tuesday.
Obama administration praises early Senate financial bill
US’s Frank wants SEC/CFTC to decide on swaps clearing
By Kim Dixon and Karen Brettell
WASHINGTON/NEW YORK, Nov 3 (Reuters) – U.S. regulators should be given authority to determine whether a privately traded derivative contract should be cleared through a central clearinghouse, the chairman of the House Financial Services Committee said on Tuesday.
Big-bank containment strategy catches on in US, EU
By Kevin Drawbaugh
WASHINGTON, Nov 3 (Reuters) – The government should be able to restrict the size of financial firms so they do not become “too big to fail,” two key U.S. Democratic lawmakers said on Tuesday, echoing proposals being made in Europe.
Resolution authority bill hits speed bump in Congress
By Kevin Drawbaugh and Karey Wutkowski
WASHINGTON, Nov 3 (Reuters) – Congressional Democrats need more time to debate the funding for an Obama administration “resolution authority” bill for dealing with troubled financial firms, likely pushing committee consideration of the measure into next week, said lobbyists and a House aide on Tuesday.
US Rep Frank wants big banks to prepay resolution fund – aide
WASHINGTON, Oct 30 (Reuters) – U.S. Representative Barney Frank has changed his position and supports requiring large financial firms to make payments into a fund for unwinding troubled competitors before the money is needed, an aide said on Friday.
WRAPUP 1-Obama financial reforms advance in U.S. Congress
By Kevin Drawbaugh
WASHINGTON, Oct 27 (Reuters) – The Obama administration made gains on Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny.The systemic risk bill would grant vast powers to a new systemic risk regulatory council, the Federal Reserve and the Federal Deposit Insurance Corp to monitor and address risks to economic stability posed by shaky financial holding companies.
White House, Congress Democrat bill urges new US powers over financial firms
By Kevin Drawbaugh and Rachelle Younglai
WASHINGTON, Oct 27 (Reuters) – The U.S. government would gain far-reaching new powers to regulate, and even shut down, large financial firms that threaten economic stability under a draft bill released in Congress on Tuesday.
Obama readies tougher ‘too big to fail’ strategy
By Kevin Drawbaugh
WASHINGTON, Oct 26 (Reuters) – The Obama administration within days will move to get tougher with large financial firms that are in trouble by urging Congress to let the government seize control, wipe out shareholders, boot management and restructure debts, an administration official said on Monday.
Reuters Summit-Geithner: Obama team to toughen ‘Too big to fail’ fix
By Karey Wutkowski
WASHINGTON, Oct 20 (Reuters) – The Obama administration is planning to send lawmakers a fresh, tougher proposal that would give the government more tools to wind down troubled financial firms and reduce the idea of “too big to fail,” U.S. Treasury Secretary Timothy Geithner said on Tuesday.
ANALYSIS-Activists hit compromises on U.S. financial reform
By Kevin Drawbaugh
WASHINGTON, Oct 20 (Reuters) – The watering down of U.S. financial regulation reform in Congress drew questions on Tuesday from consumer advocates wondering what will be left of the Obama administration’s plan once lawmakers are done.
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