Financial Regulatory Forum

U.S. House Democrats sharpening ‘too big to fail’ plan

By Reuters Staff
November 18, 2009

U.S. Representative Barney Frank (D-MA) holds a news conference on issues before the House Financial Services Committee on Capitol Hill in Washington, November 3, 2009.  REUTERS/Jonathan Ernst    (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh
WASHINGTON, Nov 17 (Reuters) – A key U.S. congressional panel moved toward toughening a plan for dealing with “too big to fail” financial firms on Tuesday, while rejecting a Republican alternative backed by Wall Street.

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

By Reuters Staff
November 17, 2009

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.

Sen Dodd seeks more muscle in US financial reforms

By Reuters Staff
November 10, 2009

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.
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EXCLUSIVE – IMF exploring insurance levy on banks

By Reuters Staff
November 9, 2009

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.

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

By Reuters Staff
November 6, 2009

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.”

European Central Bank welcomes new role in new European supervisory body

By Reuters Staff
November 4, 2009

  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.

US lawmaker favors curbing size of financial firms

By Reuters Staff
November 3, 2009

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.

U.S. financial reform faces Republican challenges

By Reuters Staff
November 2, 2009

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.

Obama systemic risk plan blasted in Congress

By Reuters Staff
October 29, 2009

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.

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

By Reuters Staff
October 28, 2009

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.