NEW YORK (Reuters) – The biggest providers of exchange-traded funds, which have been funneling billions of investor dollars into some little-traded corners of the bond market, are bolstering bank credit lines for cash to tap in the event of a market meltdown.
Vanguard Group, Guggenheim Investments and First Trust are among U.S. fund companies that have lined up new bank guarantees or expanded ones they already had, recent company filings show.
NEW YORK, May 13 (Reuters) – The biggest providers of
exchange-traded funds, which have been funneling billions of
investor dollars into some little-traded corners of the bond
market, are bolstering bank credit lines for cash to tap in the
event of a market meltdown.
Vanguard Group, Guggenheim Investments and First Trust are
among U.S. fund companies that have lined up new bank guarantees
or expanded ones they already had, recent company filings show.
WASHINGTON, May 12 (Reuters) – A draft Republican bill in
the U.S. Senate takes aim at bank rules and insurance
regulations, also limiting restrictions on mortgage requirements
and proposes restructuring the Federal Reserve and other
The 216-page, eight section report released on Tuesday was
crafted by the staff of Senator Richard Shelby of Alabama who
chairs the Senate Committee on Banking and has made easing rules
for small banks and imposing reforms on financial regulators a
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
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.
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.
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.
(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.
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.
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.