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May 12, 2015

US Senate Banking bill proposes several changes for Fed-source

WASHINGTON May 12 (Reuters) – The regulation relief bill
drafted by the U.S. Senate Banking Committee Chairman includes
changes to the Federal Reserve system and an easing of mortgage
rules for the financial industry, according to a person familiar
with the draft.

The bill also proposes to raise the threshold for banks to
be subjected to enhanced supervision, to $500 billion in assets
from $50 billion, said the source, who is a Republican aide on
the committee.

May 8, 2015

U.S. Senate Banking committee delays financial relief bill

WASHINGTON (Reuters) – The U.S. Senate Banking Committee on
Friday delayed a vote on a regulation relief bill, as Democrats
showed frustration with what they said is a lack of information
coming their way.

The committee, led by Republican Senator Richard Shelby,
said the markup would now occur a week later, on May 21. Reuters
was first to report on the delay.

May 8, 2015

U.S. Senate Banking Democrats oppose plan to markup financial bill

WASHINGTON (Reuters) – The Democrats on the powerful U.S. Senate Banking Committee have banded together to oppose plans by Republicans to approve a draft package of financial reforms next week, saying they have yet to see a copy of the bill.

In a letter to Senate Banking Committee Chairman Richard Shelby, the Democrats said they are expressing their “concern and disappointment” with his plan to conduct a markup “without giving all committee Democrats time to analyze and review” the proposal.

May 7, 2015

Senators take aim at Fed’s dependence on shared staff

WASHINGTON (Reuters) – Two U.S. senators introduced a bill on Thursday that aims to provide each Federal Reserve governor with staffers instead of sharing them as is now the case, in a move aimed at promoting more independence inside the Fed’s board.

The bipartisan bill, introduced by Senators David Vitter and Elizabeth Warren, would also require a publicly recorded vote by the Fed board on the resolution of any enforcement action that includes $1 million or more in payments.

May 6, 2015

U.S. Senate banking panel chief forges ahead with bill to ease rules

By Michael Flaherty

(Reuters) – The chairman of the Senate Banking Committee is
pushing ahead with a bill to ease rules across sections of the
financial industry after the first round of efforts to work with
his Democratic counterpart failed.

Alabama Republican Richard Shelby is crafting a regulatory
relief bill that aims to give small U.S. banks more breathing
room to operate by exempting them from certain federal
regulations put in place after the 2008 financial crisis.

May 6, 2015

Fed ready to take more action aimed at banking system safety: Yellen

WASHINGTON, May 6 (Reuters) – Federal Reserve Chair Janet
Yellen on Wednesday said the central bank is prepared to take
further action to make the financial system safer, in a warning
to the banking industry and non-bank lenders.

In prepared remarks at the “Finance and Society” conference
held at the International Monetary Fund, Yellen outlined the
contributions of the banking system to society and the economy.

Apr 29, 2015

Fed points to softer U.S. labor market, weak economic growth

WASHINGTON, April 29 (Reuters) – The Federal Reserve pointed
to weakness in the U.S. labor market and economy on Wednesday in
a policy statement that came just hours after data showing tepid
economic growth, suggesting the central bank may have to wait
until the third quarter to begin raising interest rates.

The Fed’s statement leaves it dependent on fresh economic
data, in a meeting-by-meeting approach, as it seeks to decide on
the timing of its first rate hike since June 2006.

Apr 29, 2015

Insight – Drop in disability rolls adds to signs of U.S. labour market recovery

WASHINGTON (Reuters) – The number of Americans on disability has declined for six months in a row in a sharp turnaround after years of increases, more evidence of the labour market recovery the Federal Reserve wants to see before nudging interest rates higher.

Social Security disability rolls have climbed since the 1980s as the U.S. population has grown older and soared during and after the global financial crisis. That stoked fears that shrinking workforce will stunt the economy’s future growth.

Apr 29, 2015

Fed meeting seen as chance to nudge markets on rate hike timing

WASHINGTON (Reuters) – As the Federal Reserve’s policy-setting committee wraps up its third meeting of the year, a critical task awaits the U.S. central bank: narrowing the wide gap between how it and the markets view the path of interest rates.

The Fed previously ruled out raising rates at the end of its two-day meeting on Wednesday, and the chances of a hike at the June meeting, while still on the table, have steadily decreased amid a drum-beat of weak first-quarter economic data.

Apr 29, 2015

Drop in disability rolls adds to signs of US labor market recovery

WASHINGTON, April 29 (Reuters) – The number of Americans on
disability has declined for six months in a row in a sharp
turnaround after years of increases, more evidence of the labor
market recovery the Federal Reserve wants to see before nudging
interest rates higher.

Social Security disability rolls have climbed since the
1980s as the U.S. population has grown older and soared during
and after the global financial crisis. That stoked fears that
shrinking workforce will stunt the economy’s future growth.

    • About Michael

      "In June 2009, Michael Flaherty became a Chief Correspondent for Reuters News, leading a team of journalists who cover investment banking, mergers & acquisitions, private equity and hedge funds, equity capital markets, natural resources and property across Asia. He arrived in Hong Kong in Feb. 2008 as Reuters' Asia Financial Services correspondent, covering the investment banks and M&A. Flaherty was hired by Reuters in New York in Dec. 2003. He was voted Reuters Journalist of the Year for his 2007 coverage of the U.S. private equity boom and bust. He started at Reuters with the consumer group covering office retailers ..."
      Joined Reuters:
      Dec. 1, 2003
      Awards:
      Peninsula Press Club, 2002, Reuters Journalist of the Year, 2007, M&A International, 2007
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