Treasury’s TARP Investment Chief to Step Down
By MICHAEL J. DE LA MERCED - NY Times
David N. Miller, the chief investment officer of the Treasury Department’s bailout program, is planning on leaving the government at the end of the month to return to the private sector.
http://jlne.ws/gO747S
Higher Inflation Expectations Are Spreading
By Kathleen Madigan, WSJ.com
The Federal Reserve expects higher price pressures to be “transitory.” But other economic players aren’t so sure. A new survey of finance professionals done by J.P. Morgan shows core inflation expectations are rising around the world.
http://jlne.ws/gekA7A
Fed says 2010 payment to government sets record
Martin Crutsinge, Associated Press
The Federal Reserve is paying a record $79.3 billion to the U.S. government after the central bank earned a record amount of money last year from programs aimed at boosting the economy. The Fed says its payment to the Treasury Department for 2010 is 67 percent higher than $47.4 billion it paid in 2009, the previous record.
http://jlne.ws/dHJa8d
Federal Reserve System publishes annual financial statements
Bloomberg News
Michael Oxley, the former congressman who co-wrote the Sarbanes-Oxley Act of 2002, has registered as a lobbyist for the Financial Industry Regulatory Authority to promote self-regulation of investment advisors.
http://jlne.ws/e65LV2
Michael Oxley Registers To Lobby For FINRA To Regulate RIAs
advisors4advisors
Having given his name to Sarbanes-Oxley, Michael Oxley, now a lawyer in private practice, has filed as a lobbyist on behalf of FINRA in order to plead that regulator's case in Congress for taking over RIA supervision.
http://jlne.ws/fzZBXY
Fed’s Fisher Opposes Extension of QE2
By Brian Blackstone and Nina Koeppen, WSJ.com
U.S. Federal Reserve Bank of Dallas President Richard Fisher said he is likely to be among the first Fed officials to press for tighter monetary policy when the time comes, warning that inflationary pressures are building.
http://jlne.ws/eqQ85L
Fed's Fisher: U.S. debt situation at tipping point
By Marc Jones and Sakari Suoninen, Reuters
The U.S. debt situation is at a "tipping point," Dallas Federal Reserve Bank President Richard Fisher said on Tuesday, and urged the U.S. central bank to refrain from any further stimulus measures.
http://jlne.ws/fyolLE
Banks' use of ECB lending facilities
Reuters
Commercial bank borrowing from the European Central Bank has been high in countries most affected by the sovereign debt crisis for
several months.
http://jlne.ws/gwpFL1
U.S. home prices dip in January -- FHFA
U.S. Federal Housing Finance Agency home price index
Reuters
http://jlne.ws/eNUe4P
UK inflation revives talk of early interest rate rise
By David Milliken and Christina Fincher, Reuters
British inflation surged to a 28-month high of 4.4 percent last month, reviving speculation that the Bank of England will not wait much longer to raise interest rates.
http://jlne.ws/emBrB8
BNY Mellon ups dividend, to buy back shares
By Wallace Witkowski, MarketWatch
New York Mellon Corp.said Tuesday that its board raised the quarterly dividend to 13 cents a share from 9 cents a share. The dividend is payable May 10 to shareholders as of April 29. Also, Bank of New York Mellon said it plans to buy back $1.3 billion in common shares in 2011
http://jlne.ws/ebNbLf
Standard & Poor's Global Credit Portal
The outlook for Hong Kong banks is stable despite the increased risk due to the surge in lending in the past 15 months, according to an article Standard & Poor's Ratings Services published today.
http://jlne.ws/fIsoMe
US: $0.180B reverse repo-2 days 2009-12-11 NYFed temporary open market operations
To implement monetary policy, short-term repurchase and reverse repurchase agreements are used to temporarily affect the size of the Federal Reserve System's portfolio and influence day-to-day trading in the federal funds market.
http://jlne.ws/hHKI8r
Creditex Expands Electronic CDS Trading in North America
Press Release
NEW YORK, March 22, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global futures exchanges, over-the-counter (OTC) markets and clearing houses, announced that Creditex, a wholly-owned subsidiary of ICE and a global leader in interdealer trade execution for credit derivatives, has expanded its electronic trading capabilities and products for credit default swaps (CDS) for the North American market. With the addition of key indexes, the Creditex RealTime electronic platform began executing trades for the most liquid Investment Grade (IG) and High Yield (HY) series of CDX indexes on March 7, 2011. Since the introduction, over 80% of the CDX index trades arranged by Creditex have been executed on the Creditex RealTime platform.
http://jlne.ws/fXbx4s
Corporate 'Relationship Banking' Threatened by New Rule
By Daniel Indiviglio - The Atlantic
Since the financial crisis, the once-intense battle between full-service mega-banks like Citigroup and JPMorgan and traditional investment banks like Goldman Sachs and Morgan Stanley has become less relevant. When every bank is struggling to survive, two groups competing for dominance seems less relevant. But now that the industry has mostly healed, the war wages on. This week, we learn of a new twist that could dramatically help the investment banks: a new rule is being considered that would threaten corporate "relationship banking."
http://jlne.ws/haddgg
U.S. Treasury To Begin Orderly Wind Down Of Its $142 Billion Mortgage-Backed Securities Portfolio
Press Release
Treasury Will Authorize Sale Of Up To $10 Billion In Agency-Guaranteed Mortgage-Backed Securities Per Month - Part Of Continued Wind Down Of Holdings Acquired As Part Of The Financial Stabilization Actions In 2008 And 2009 To Help Combat The Financial Crisis
http://jlne.ws/hrUgzy
Barclays considers bid for US securities
By Justin Baer and Helen Thomas in New York - Financial Times
Barclays is among a group of investors weighing a rival bid for a portfolio of mortgage-backed securities that has already drawn a $15.7bn offer from AIG, people familiar with the matter said.
http://jlne.ws/dLdRIR
Shadow banks: A real problem for regulators
By Brooke Masters - Financial Times
Now that regulators have moved to impose tougher capital and liquidity requirements on banks, attention is turning to other sources of systemic risk, especially fast-growing entities muscling in on bank business that have escaped the same level of scrutiny.
http://jlne.ws/ij5AkR
An App For That? Five Ways Banks Could Learn From Apple's iPad
By DAVID WEIDNER - WSJ
The line for the iPad 2 at Apple's White Plains, N.Y., store stretched around the third level of the mall. The line blocked restaurants, Anthropologie and Brooks Brothers stores. Security guards had to keep the escalator exits clear. Meanwhile, the nation's banks are getting attention by covertly raising fees charged to customers who use their automated teller machines: a whopping $5 in some cases.
http://jlne.ws/elxVCi
Deutsche Bank Loses German Top Court Case Over 'Spread Ladder' Swap Sales
Bloomberg
Deutsche Bank AG (DBK) , Germany 's biggest bank, lost a ruling over an interest-rate swap in the first case over sales of the products to companies and local governments heard at the country's highest civil court.
http://jlne.ws/i6X5ro
Ex-UBS Banker Poteroba Gets 22 Months for Insider Trading
BusinessWeek
Igor Poteroba, a former UBS AG investment banker who pleaded guilty to insider trading, was sentenced to 22 months in prison.
http://jlne.ws/g9W5Su
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