Financial Regulatory Forum

US’ Geithner – less need for government in markets

FINANCIALS-GEITHNER/   By Glenn Somerville and David Lawder
   WASHINGTON, Sept 10 (Reuters) – U.S. Treasury Secretary Timothy Geithner said Thursday a strengthening economy means the government can end some of the extraordinary support it put in place for markets and prepare for a slow recovery. (more…)

G20 debates exit strategy, capital standards, IMF raises GDP outlook

U.S. Treasury Secretary Timothy Geithner (C) addresses a meeting at the G20 Finance Ministers summit in London September 4, 2009. G20 policymakers gather in London on Friday and are expected to promise to keep economic support packages in place until recovery is certain and seek to reassure financial markets they have credible plans to withdraw the stimulus when appropriate.  REUTERS/Kevin Coombs  By Sumeet Desai and Anna Willard
LONDON, Sept 4 (Reuters) – World finance leaders shifted their focus from crisis fighting to banking reform on Friday as evidence mounted that the worst global recession in decades was finally drawing to a close.

U.S. Treasury Secretary Timothy Geithner called for tougher new bank capital requirements aimed at curbing some of the risky lending practices that have been blamed for the crisis, a position supported by another global banking powerhouse, Britain.

(more…)

Geithner: U.S. Fed needs shielding from politics

USA CHINA/    By David Lawder
   WASHINGTON, Aug 26 (Reuters) – U.S. Treasury Secretary Timothy Geithner said on Wednesday the Federal Reserve should further increase its transparency, but its monetary policy activities need to be shielded from political influence.
(more…)

U.S. wants lenders to speed up mortgage aid

U.S. Treasury Secretary Timothy Geithner WASHINGTON, July 28 (Reuters) – Senior U.S. housing officials and leading mortgage companies met on Tuesday to set explicit goals for preventing evictions and helping struggling borrowers with their home loans.

(more…)

US’s Geithner- will work with Congress, but regulatory overhaul essential

Treasury Secretary Timothy GeithnerWASHINGTON, July 24 (Reuters) – U.S. Treasury Secretary Timothy Geithner said on Friday he was willing to work with lawmakers on shaping an overhaul of financial regulations but insisted major changes are necessary. The financial crisis of the past two years show the financial system “failed in its most basic responsibility” to supply credit and protect consumers and that cannot happen again, he said in prepared testimony for delivery to the U.S. House of Representatives Financial Services Committee. (more…)

U.S. asks banks to expand foreclosure prevention

House for sale WASHINGTON, July 10 (Reuters) – The Obama administration is asking the largest mortgage finance companies to quicken the pace of modifying home loans and so help more troubled borrowers avoid foreclosure. The largest 25 mortgage servicers should appoint a special liaison officer to work directly with government officials who are overseeing the program meant to save as many as 4 million borrowers from foreclosure. (more…)

US’s Geithner seeks clampdown on derivatives dealers

U.S. Treasury Secretary Timothy Geithner By Rachelle Younglai
WASHINGTON, July 10 (Reuters) – U.S. Treasury Secretary Timothy Geithner on Friday proposed clamping down on dealers in freewheeling markets for little-understood derivatives that helped create a crisis in U.S. and world financial markets.  In testimony at a joint hearing by two congressional panels that will play a role in writing legislation on derivatives, Geithner set out proposals that would make big dealers like JPMorgan Chase and Goldman Sachs subject to much stronger supervision than was the case in the past.

(more…)

US SEC, CFTC to police OTC derivatives -document

US Treasury Secretary Timothy Geithner    By Rachelle Younglai
   WASHINGTON, July 10 (Reuters) – U.S. Treasury Secretary Timothy Geithner is set to propose on Friday giving securities and futures regulators authority to police the over-the-counter derivatives market, according to a document obtained by Reuters.
(more…)

  •