Financial Regulatory Forum

1-Year after slump, US lawmakers begin swaps reform

   By Rachelle Younglai and Charles Abbott
   WASHINGTON, Oct 13 (Reuters) – One year after financial markets faltered worldwide, U.S. lawmakers are determined to write a softer package of regulatory reforms than those requested by the Obama administration. (more…)

US House to act on financial reform in November – Hoyer

House Majority Leader Rep. Steny Hoyer (file photo).  WASHINGTON, Oct 6 (Reuters) – The U.S. House of Representatives is expected to debate financial regulatory reform next month, Democratic leader Steny Hoyer said on Tuesday.

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U.K. watchdog agrees to analyse impact of new bank rules

LONDON, Sept 30 (Reuters) – Britain’s financial regulator said on Wednesday it will sketch out how to determine if a bank poses risks to the broader system , and may require higher capital charges to contain risks.

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Rep. Frank revises planned U.S. consumer agency bill to meet business demands

REGULATION-SUMMIT/ By Karey Wutkowski and Rachelle Younglai
WASHINGTON, Sept 25 (Reuters) – Powerful U.S. lawmaker Barney Frank bowed to some of the financial industry’s demands and softened parts of his bill to create an agency to protect consumers from risky financial products, according to a copy of the draft bill first obtained by Reuters on Friday.

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EU leaders at G20 to seek bonus curbs, retained stimulus

Romania's President Traian Basescu (L) is welcomed by Sweden 's Prime Minister Fredrik Reinfeldt  at an informal summit of European Union heads of state and government in Brussels September 17, 2009. EU leaders met to coordinate the EU's position ahead of the G20 Summit in Pittsburgh.   REUTERS/Yves Herman By Darren Ennis and Jan Strupczewski
BRUSSELS, Sept 17 (Reuters) – European Union leaders agreed on Thursday to seek curbs on bankers’ bonuses at next week’s G20 summit and said they wanted evidence the recession is over before they stop spending to prop up their economies.

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Obama warns Wall Street to get behind reforms

By Caren BohanOnlookers gather outside the historic Federal Hall where U.S. President Barack Obama is speaking in the heart of Wall Street in New York September 14, 2009. Obama, marking a year since Lehman Brothers collapsed, urged financial firms Monday not to fight regulatory reform and urged Congress to pass his proposals by the end of the year.     REUTERS/Larry Downing (UNITED STATES BUSINESS POLITICS)

NEW YORK, Sept 14 (Reuters) – U.S. President Barack Obama warned financial firms on Monday to heed the lessons of Lehman Brothers’ collapse a year ago and get behind a regulatory overhaul he wants Congress to pass this year.
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Obama to urge regulatory reform in Lehman anniversary speech

The exterior of the world headquarters for Lehman Brothers is seen in New York September 15, 2008,  after the firm filed for bankruptcy protection. Lehman was one of the biggest investment banks to collapse since 1990 when Drexel Burnham Lambert filed for bankruptcy protection amid a collapse in the junk bond market.   REUTERS/Shannon Stapleton (UNITED STATES) WASHINGTON, Sept 11 (Reuters) – President Barack Obama’s speech in New York on Monday will focus on financial reform and the need to strengthen the system to avoid another economic collapse, the White House said on Friday.

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U.S. Fed chief sees growth prospects, “urgent” regulatory reform need

Chairman of the Federal Reserve Ben Bernanke testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington July 22, 2009. (FILE) WASHINGTON, Aug 21 (Reuters) – Following are highlights from U.S. Federal Reserve Chairman Ben Bernanke’s prepared speech to be delivered at the Kansas City Federal Reserve Bank’s conference in Jackson Hole, Wyoming.

BERNANKE ON CURRENT STATE OF ECONOMY
“After contracting sharply over the past year, economic activity appears to be leveling out, both in the United States and abroad, and the prospects for a return to growth in the near term appear good. … The economic recovery is likely to be relatively slow at first, with unemployment declining only gradually from high levels.”
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