Financial Regulatory Forum

U.S. targeting American clients of UBS for criminal tax evasion

By Reuters Staff
August 18, 2009

USA/UBS By Tom Brown
MIAMI, Aug 18 (Reuters) – The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information. (more…)

“Fed fatigue” weighs on Obama regulatory push

By Reuters Staff
July 24, 2009

USA-FED/BERNANKE-TESTIMONY By Kevin Drawbaugh

WASHINGTON, July 23 (Reuters) – The Obama administration wants to hang a new shingle over the U.S. Federal Reserve’s marble-columned door that says “systemic risk regulator.” But many lawmakers, from both parties, aren’t feeling very confident about the Fed. It’s an issue surrounding a central part of President Barack Obama’s plan to overhaul financial regulation and it prompted skeptical comments at a Senate hearing on Thursday. (more…)

Bernanke sees some economic gain, reviews Fed exit strategy

By Reuters Staff
July 21, 2009

Federal Reserve Chairman Ben BernankeBy Mark Felsenthal and Alister Bull

WASHINGTON, July 21 (Reuters) – Federal Reserve Chairman Ben Bernanke on Tuesday said the outlook for the long-suffering U.S. economy appears to be improving and the U.S. central bank was carefully reviewing ways to withdraw its massive monetary policy stimulus when conditions permit.
But Bernanke cautioned that unemployment was likely to remain high into 2011, and he warned that this could sap fragile consumer confidence and potentially undermine what is expected to be a very gradual recovery. (more…)

Fed’s Kohn’s systemic risk testimony to House panel

July 9, 2009

Vice Chairman of the Board of Governors of the Federal Reserve System Donald Kohn     WASHINGTON, July 9 (Reuters) – Following is the full text of Federal
Reserve Vice Chairman Donald Kohn’s testimony delivered on Thursday before a
House Financial Services subscommittee hearing on systemic risk regulation: 
(more…)

US banks must mind commercial real estate book-Fed

July 9, 2009

   By Patrick Rucker
   WASHINGTON, July 9 (Reuters) – Many U.S. banks need to check their commercial real estate holdings more carefully and ensure that a continued decline in the property market does not threaten the lender, a Federal Reserve bank examiner said on Thursday.
(more…)

Fed’s Hoenig – taking on ‘too big to fail’ is key

July 1, 2009

Hoenig   By Steven C. Johnson
   NEW YORK, June 30 (Reuters) – Policy-makers must focus on how to treat systemically important firms that are seen as too big to fail, Thomas Hoenig, president of the Kansas City Federal Reserve Bank, said on Tuesday.
(more…)