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.
U.S. banks give nod to prepaying fees, seek tweaks
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.
US Treasury to say 3 more funds to buy toxic assets
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.
Cross-border resolution of troubled banks may be hard – U.S. Fed’s Tarullo
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.
SCENARIOS-US weighs how to rebuild depleted bank insurance fund
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.
US may sell its 34 pct Citigroup stake, aims to finish by spring 2010 – report
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.
U.S. bill would restrict OTC derivatives holdings
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.
Two US House chairmen back mandatory OTC clearing in derivatives reform goals
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:
(more…)
U.S. wants lenders to speed up mortgage aid
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.
U.S. financial regulators stake out turf defenses
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…)
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