Financial Regulatory Forum

U.S. turns up heat on Basel bank reform

September 3, 2009

   LONDON, Sept 3 (Reuters) – U.S. pressure to toughen up how banks set aside capital suggests reform of Basel II rules on capital adequacy could be drawn out for years, leaving banks in the lurch.

Obama picks private-equity figure for key U.S. Treasury post

July 22, 2009

By Patrick Rucker
WASHINGTON, July 22 (Reuters) – Jeffrey Goldstein, an executive at a New York private equity firm, has been tapped as President Barack Obama’s choice for Treasury undersecretary for domestic finance, two officials said on Wednesday. (more…)

U.S. asks banks to expand foreclosure prevention

July 10, 2009

House for sale WASHINGTON, July 10 (Reuters) – The Obama administration is asking the largest mortgage finance companies to quicken the pace of modifying home loans and so help more troubled borrowers avoid foreclosure. The largest 25 mortgage servicers should appoint a special liaison officer to work directly with government officials who are overseeing the program meant to save as many as 4 million borrowers from foreclosure. (more…)

US Treasury sold warrants below market value-panel

July 10, 2009

   By David Lawder
   WASHINGTON, July 10 (Reuters) – The U.S. Treasury Department allowed 11 smaller banks to repurchase stock warrants at only 66 percent of their market value, passing up about $10 million of taxpayer profits from government bailouts, a U.S. watchdog panel said on Friday.

US Treasury ready to twist arms over consumer agency

July 7, 2009

    By Patrick Rucker
   WASHINGTON, July 6 (Reuters) – The U.S. Treasury Department is warning the financial services industry that it will not back down from its proposal to create a new consumer protection agency, even while lobbyists build a warchest and strategy to defeat the plan.

US toxic securities funds launch seen at $20 bln

July 3, 2009

    By David Lawder and Jennifer Ablan
   WASHINGTON/NEW YORK, July 2 (Reuters) – The U.S. Treasury will launch its public/private investment fund program to buy up toxic securities with an initial funding of $20 billion from public and private sources, a level scaled back considerably from initial plans, people familiar with the matter said on Thursday.