Financial Regulatory Forum

Banks sense danger, warn U.S. Congress on breakup power

By Kevin Drawbaugh
WASHINGTON, Nov 16 (Reuters) – Some of the world’s largest financial firms on Monday urged a top U.S. lawmaker not to pursue big bank break-up legislation, an idea attracting interest in Congress and causing alarm on Wall Street.

(more…)

Sen Dodd seeks more muscle in US financial reforms

Senate Banking Committee Chairman Sen. Chris Dodd listens to testimony at the Senate Banking Committee on Capitol Hill in Washington, July 23, 2009.      REUTERS/Larry Downing (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh
WASHINGTON, Nov 10 (Reuters) – Pushing for tougher changes in U.S. financial regulations, the Senate’s top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections.
(more…)

EXCLUSIVE – IMF exploring insurance levy on banks

By Brian Love
PARIS, Nov 8 (Reuters) – The International Monetary Fund is exploring the idea of making banks pay insurance fees to fund any future rescues in the sector, IMF managing director Dominique Strauss-Kahn said on Sunday.

(more…)

US senator offers ‘too big to fail’ bank break-up bill

Senator-elect Bernie Sanders (I-VT) is interviewed by a Reuters reporter at Sanders' office in Burlington, Vermont November 28, 2006. (File photo) REUTERS/Brian Snyder    (UNITED STATES)   WASHINGTON, Nov 6 (Reuters) – Senator Bernie Sanders on Friday introduced legislation that would make the U.S. Treasury Department identify and break up financial institutions that are “too big to fail.”

(more…)

European Central Bank welcomes new role in new European supervisory body

  FRANKFURT, Nov 4 (Reuters) – The European Central Bank welcomed plans to give it the key role in a new European supervisory body, saying it would neither distract it from ensuring price stability nor create a threat to its independence.

(more…)

US lawmaker favors curbing size of financial firms

WASHINGTON, Nov. 3 (Reuters) – The government should have the authority to break up or reconstruct financial firms before they become “too big to fail,” a prominent U.S. lawmaker said on Tuesday.

(more…)

U.S. financial reform faces Republican challenges

By Kevin Drawbaugh and Rachelle Younglai

WASHINGTON, Nov 2 (Reuters) – Key U.S. senators are still deeply divided on basic financial regulation reforms, making it unlikely a bill expected soon from Senate Democrats could become law this year, analysts said on Monday.

(more…)

Obama systemic risk plan blasted in Congress

By Kevin Drawbaugh
WASHINGTON, Oct 29 (Reuters) – The Obama administration’s new proposal for tackling financial risk in the U.S. economy, unveiled just two days ago, came under attack on Thursday from all sides, with critics targeting its funding and scope.

(more…)

WRAPUP 1-Obama financial reforms advance in U.S. Congress

Onlookers 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. (File Photo)     REUTERS/Larry Downing (UNITED STATES BUSINESS POLITICS)   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.

(more…)

US congressional panel backs new rules for hedge funds, short of White House aims

By Kevin Drawbaugh and Rachelle Younglai
WASHINGTON, Oct 27 (Reuters) – U.S. regulators would be able to peer into the secretive world of hedge funds and private equity funds under a bill passed by a key congressional committee on Tuesday.
(more…)

  •