Top Interest Rate Headlines 10-22-10: Fed's Fisher: Policy Makers Must Be Aware of Dollar Impact

Fed's Fisher: Policy Makers Must Be Aware of Dollar Impact
Bloomberg
Federal Reserve officials need to be mindful of the effect their actions are having on the dollar, said Richard Fisher, president of the Fed bank of Dallas and a former deputy U.S. trade representative.
http://jlne.ws/aNG7IT

How Howard Lutnick Is Growing Cantor and BGC
BusinessWeek
The Cantor Fitzgerald chief is on a hiring binge, opening new offices abroad, and moving the firm in new directions
http://jlne.ws/bvu7wI

Singapore Exchange eyes up a move for ASX
Sydney Morning Herald
The nation's monopoly sharemarket operator, the ASE, is back in talks with its offshore peers.
http://jlne.ws/9s7zkO

Foreign Banks Selling Swaps in U.S. to Face Dodd-Frank Rules, Gensler Says
Bloomberg
International banks selling derivatives in the U.S. will face higher capital requirements and new business conduct standards under the most sweeping rewrite of Wall Street rules since the Great Depression, according to a top regulator.
http://jlne.ws/d5bgzn

President's Working Group On Financial Markets Releases Money Market Funds Report
Press Release
The President's Working Group on Financial Markets (PWG) today released a report detailing a number of options for reforms related to money market funds. These options address the vulnerabilities of money market funds that contributed to the financial crisis in 2008.
http://jlne.ws/cxgbC7

Morgan Stanley Clears OTC Derivative Trades at CME
Press Release
Morgan Stanley, a market leader in derivatives trading and clearing, announced today that it has cleared OTC interest rate swap transactions for clients of the firm at the Chicago Mercantile Exchange (CME). Trades were cleared on the first day of operation of the CME Clearing service for interest rate swaps. This follows the previously announced clearing of client OTC Credit Default Swap (CDS) transactions at CME's CDS clearing service.
http://jlne.ws/dcbwGQ

Bank levy raises worries over 'double taxation'
Daily Telegraph
Banks face being taxed twice on their balance sheets in the first year of the Government's new L2.5bn levy with Britain unlikely to reach an agreement with other countries on the issue of double taxation before the measure is introduced next year.
http://jlne.ws/d7J0xK

UBS Appoints Miskovic as Chief Risk Officer, Lofts as CEO of the Americas
Bloomberg
UBS AG , Switzerland's largest bank, hired Maureen Miskovic as chief risk officer, the first woman to join its 13-member group executive board.
http://jlne.ws/9eo8K

Jefferies Names James Golden Head of Treasury Desk
BusinessWeek
Jefferies & Co., one of the 18 primary dealers that trade U.S. government debt with the Federal Reserve, hired former Royal Bank of Scotland Plc trader James Golden as head of its Treasury trading desk.
http://jlne.ws/dlIpWn

Spain's Banco Santander wins EU approval to buy RBS assets
People's Daily
Banco Santander of Spain has won approval from the European Union (EU) to buy a number of retail and commercial banking assets of the Royal Bank of Scotland Group (RBS) in Britain.
http://jlne.ws/9pZAE9

New York Fed Faces 'Conflict' in Mortgage Buybacks
BusinessWeek
The Federal Reserve Bank of New York's effort to recover taxpayer money used in bailouts during the crisis may be at odds with its mission to ensure the stability of the financial system.
http://jlne.ws/9r22oF

CFTC May Finish Proposed Swaps Rules by Mid-December
By SARAH N. LYNCH, WSJ.com
WASHINGTON-The Commodity Futures Trading Commission hopes to finish proposing all of its new over-the-counter derivatives regulations by mid-December, but to implement them it may need 400 additional staffers, CFTC Chairman Gary Gensler said Thursday.
http://jlne.ws/aJfgoi