United Fed Stands Pat
By Luca Di Leo And Jeffrey Sparshott, WSJ.com
Federal Reserve officials were united Wednesday in deciding to continue buying government bonds to boost the recovery, even as they acknowledged that the U.S. economy looks in better shape.
http://jlne.ws/hvmqMT
Instant view: Fed lukewarm on economy, jobs
Reuters
The U.S. Federal Reserve gave a lukewarm economic assessment on Wednesday despite recent signs the recovery was strengthening, saying high unemployment still justified its $600 billion bond-buying program.
http://jlne.ws/fyDhP9
FRB: FOMC statement--January 26, 2011
Information received since the Federal Open Market Committee met in December confirms that the economic recovery is continuing, though at a rate that has been insufficient to bring about a significant improvement in labor market conditions. Growth in household spending picked up late last year, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, while investment in nonresidential structures is still weak. Employers remain reluctant to add to payrolls. The housing sector continues to be depressed. Although commodity prices have risen, longer-term inflation expectations have remained stable, and measures of underlying inflation have been trending downward....
http://jlne.ws/e3MF3i
DTCC and Markitserv Collaberate with Acadiasoft to Automate Collateral Messaging and Reduce Risk in OTC Derivatives
Press Release
The Depository Trust & Clearing Corporation (DTCC), MarkitSERV and AcadiaSoft today announced that they are working to deliver a joint solution for improving communication related to setting and maintaining the collateral required between counterparties to over-the-counter (OTC) derivative transactions. The solution is the first step taken by the three companies to develop a multi-functional collateral processing platform for the OTC derivative market.
http://jlne.ws/dMI2Yw
Derivatives Executives Are Wary Of Electronic Swaps Trading
By Katy Burne, Of DOW JONES NEWSWIRES
Moving a large portion of privately traded derivatives, or swaps, on to futures exchanges and other regulated execution platforms in accordance with new regulation will take a huge leap of faith from industry participants, panelists at a derivatives conference in New York warned Tuesday.
http://jlne.ws/fGfm19
TARP Profit on Citigroup: $12.3 Billion
BY Tom Barkley, WSJ.com
The U.S. is set to record a net $312.2 million from its sale of its final 465.1 million warrants to purchase common shares of Citigroup Inc., the Treasury Department said Wednesday.
http://jlne.ws/icd8bp
Noyer Urges More Flexible Rescue Fund
BY BRIAN BLACKSTONE AND NATHALIE BOSCHAT, WSJ.com
A top European Central Bank official urged euro-zone governments to make their €440 billion ($602 billion) crisis fund more flexible so that it can buy bonds of fiscally distressed governments and offer them short-term credit lines, a signal that the ECB wants to reduce its role in fighting the currency bloc's debt crisis.
http://jlne.ws/gV1kSf
Budget Deficit Is Expected to Grow 14% to $1.5 Trillion in Fiscal 2011
By COREY BOLES, WSJ.com
The Congressional Budget Office painted a grim picture of the federal government's finances Wednesday, saying the budget deficit would jump to nearly $1.5 trillion in the current fiscal year, largely because of a tax-cut extension enacted last year.
http://jlne.ws/eBE9f1
Cantor Prepares to Debut Commercial-Mortgage-Backed Bond Offer
By Sarah Mulholland, Bloomberg
Cantor Fitzgerald LP, the bond broker working to transform itself into a full-service investment bank, is preparing to issue its first securities tied to commercial property loans.
http://jlne.ws/fVy99U
DJIA Tops 12000
By JONATHAN CHENG, WSJ.com
The Dow Jones Industrial Average vaulted over 12000 for the first time in almost three years and bounced around that milestone throughout the session, as investors cheered President Obama's State of the Union address and the unanimous decision by the Federal Reserve to stay the course on supporting the economy.
http://jlne.ws/hISn8E
Crisis Panel Report Pins Blame on Wall Street, Washington
By Robert Schmidt and Phil Mattingly, Bloomberg
The congressionally appointed panel assigned to probe the origins of the 2008 credit crisis heaped blame on “reckless” Wall Street firms and “weak” federal regulators, concluding the meltdown could have been avoided.
http://jlne.ws/fJg3io
U.S. REP GARRETT SAYS RESTRAINING SEC, CFTC BUDGETS ONLY ONE WAY GOP TRYING TO "THROTTLE" SOME DODD-FRANK REFORMS
17:49 25Jan11 -INTERVIEW-Budgets one way to 'throttle' Dodd-Frank - Garrett
WASHINGTON, Jan 25 (Reuters) - The head of a congressional panel that oversees U.S. financial regulation said on Tuesday that budget restraint is just one way Republicans are trying to "throttle" some of the Dodd-Frank banking reforms. U.S. Representative Scott Garrett, the Republican chairman of the House capital markets subcommittee, said he knows Democrats accuse Republicans of trying to throttle Dodd-Frank by restraining the budgets of agencies that must implement it.
http://jlne.ws/ezkDkP
ICE Surpasses $15 Trillion Milestone in Global CDS Clearing
NEW YORK, Jan. 25, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that its credit default swap (CDS) clearing houses surpassed $15 trillion in cumulative gross notional value and 400,000 transactions during the week ending January 21, 2011.
http://jlne.ws/99Rt1r
Dodd-Frank Swaps Rules Deadline 'Unrealistic', O'Malia says
Bloomberg
The Dodd-Frank Act's "unrealistic" July deadline for rules to govern the swaps market may undermine regulators' efforts to increase transparency and reduce risk, Commodity Futures Trading Commission member Scott O'Malia said in a New York speech.
http://jlne.ws/hO2bJP
Derivatives Executives Are Wary Of Electronic Swaps Trading
By Katy Burne, DOW JONES NEWSWIRES
Moving a large portion of privately traded derivatives, or swaps, on to futures exchanges and other regulated execution platforms in accordance with new regulation will take a huge leap of faith from industry participants, panelists at a derivatives conference in New York warned Tuesday. Swaps are currently executed "over the counter," allowing counterparties to negotiate terms bilaterally. That suits many customers, who want tailored hedges. But global financial regulators want to bring swaps--which were blamed for deepening the financial crisis--into the open so that customers of every stripe, not just the largest users, can get access to the lowest prices available.
http://jlne.ws/f6nmgg
Global economy fears ease at Davos forum
By Chris Giles in Davos, Financial Times
Participants at the opening sessions of the World Economic Forum in Davos on Wednesday shrugged off weak UK growth figures and expressed confidence that the global economy is set fair.
http://jlne.ws/ffVAaS
IMF Sees Europe's Debt as Top Recovery Threat
By MICHAEL R. CRITTENDEN, WSJ.com
European officials need to expand the region's financial rescue fund and subject their banks to more rigorous stress tests to quell a key threat to the global economic recovery, the International Monetary Fund said Tuesday.
http://jlne.ws/fPkpCR
Credit Agricole Hires Pao as Fixed Income Head in Thailand
Bloomberg
Credit Agricole CIB hired Pao Chatakanonta as head of fixed income markets for Thailand, according to an e-mailed media release.
http://jlne.ws/f7tXzp
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