WASHINGTON, Nov 9 (Reuters) – The U.S. Treasury Department said on Monday it will immediately close its Capital Assistance Program, set up last spring for bank stress tests, because the only firm needing taxpayer funds will use an auto industry support program instead.
Financial Regulatory Forum
By Karey Wutkowski
WASHINGTON, Nov 3 (Reuters) – U.S. banks are lauding regulators for avoiding another emergency fee to replenish the deposit insurance fund, but are suggesting tweaks to a plan for them to prepay three years of regular assessments.
WASHINGTON, Oct 5 (Reuters) – The U.S. Treasury Department will announce on Monday that three more funds have met requirements to get government financing that will let them begin purchases of banks’ so-called toxic assets.
Treasury said last Wednesday, which was Sept. 30, that Invesco Ltd and Trust Company of the West, or TCW, were the first of nine public-private investment funds to raise the necessary capital to launch the program for buying toxic assets.
WASHINGTON, Sept 30 (Reuters) – A member of the U.S. Federal Reserve Board of Governors said on Wednesday it may be difficult to find international consensus on cross-border unwinding of troubled financial institutions.
By Karey Wutkowski
WASHINGTON, Sept 22 (Reuters) – U.S. bank regulators plan to meet next week to propose options for replenishing the insurance fund used to safeguard bank deposits, including tapping a line of credit with the Treasury Department.
Sept 14 (Reuters) – The United States is exploring selling stock acquired in Citigroup Inc rescue, Bloomberg news reported, citing people familiar with the matter.
The report said the Treasury Department and Citigroup have begun talks on how government could sell the 34 percent stake. The Treasury Department may start unloading the stake as soon as October, and complete the process within the next 6-8 months, the report said.
By Charles Abbott and Rachelle Younglai
WASHINGTON, July 30 (Reuters) – U.S. financial regulators would gain the power to restrict holdings of over-the-counter derivatives under legislation to be crafted in the coming months, the chairmen of two House of Representatives committees said on Thursday.
WASHINGTON, July 29 (Reuters) – Over-the-counter derivatives should go through central clearing and trade on regulated exchanges as much as possible, according to a paper prepared for release by the chairmen of the U.S. House of Representatives Financial Services and Agriculture committees. The paper, obtained by Reuters, is to be unveiled Thursday and is intended as a guide for legislation to be written after Congress returns from its August recess.
Major points in the paper are:
By Kevin Drawbaugh
WASHINGTON, July 24 (Reuters) – Senior U.S. financial regulators defended their turf in remarks to be delivered on Friday at a congressional hearing on the Obama administration’s sweeping regulatory reform agenda. (more…)