Top Interest Rate Headlines 12-03-10: BAILOUT: Fed provides details

BAILOUT: Fed provides details
By DANIEL P. COLLINS, FuturesMag.com
The Federal Reserve on Wednesday posted details of the more than 21,000 various transactions it conducted to stabilize markets during the financial crisis that dates back to the summer of 2007 according to the Fed.
http://jlne.ws/fekm2H

Eurex plans launch of interest rate swaps clearing
By Jeremy Grant - Financial Times
Eurex Clearing has not abandoned plans for over the over-the-counter (OTC) derivatives clearing and is preparing to roll out a service for interest rate swaps and credit default swaps for "buyside" market participants, a senior executive said. The disclosure comes as doubts have persisted over the commitment of Eurex to building an OTC derivatives clearing business at a time when its key rivals - CME Group, IntercontinentalExchange (ICE) and LCH.Clearnet - are pushing ahead.
http://jlne.ws/h3yayY

SEC Weighs Dodd-Frank Definition of Swap Dealers to Match CFTC's Proposal
Bloomberg
The U.S. Securities and Exchange Commission is considering rules to determine which firms face higher capital and margin requirements in the $583 trillion over-the-counter swaps market.
http://jlne.ws/icGele

U.S. to decide on exemptions for FX swaps by July
Reuters
The U.S. Treasury intends to decide by July on whether to exempt foreign exchange swaps and forwards from new derivatives regulations that would require central clearing of those instruments, a Treasury official said on Thursday.
http://jlne.ws/giDPLJ

Goldman Spins Off More Private Equity
TheStreet.com
Goldman Sachs spun off a new private equity group dubbed New MainStream Capital. The firm will manage about $250 million and invest inner city-based middle market companies, according to Dow Jones Financial News. The team that will manage New MainStream Capital was known inside Goldman Sachs as the Urban Investment Group. The Urban Investment Group also managed a real ...
http://jlne.ws/goUPzM

Goldman considers selling mortgage servicer
By Suzanne Kapner, Helen Thomas in New York and Henny Sender in Hong Kong - Financial Times
Goldman Sachs is considering a sale of its Litton Loan mortgage-servicing division, a move that would potentially bring an end to the bank's three-year foray into the business of collecting home loans and foreclosing on delinquent borrowers.
http://jlne.ws/hHErYQ

Obama debt commission plan: Top recommendations
By Jeanne Sahad, CNNMoney
The final report from the Obama debt commission was approved by 11 of the 18 commission members on a strong bipartisan basis.
http://jlne.ws/fZ11GJ

Banks seek voice in reform
The Charlotte Observer
On Oct. 14, two Wells Fargo executives had an appointment at the Federal Reserve to discuss a measure in the Dodd-Frank financial reform law passed this summer.
http://jlne.ws/i1fxEB

Second Ex-UBS Banker Snared in U.S. Municipal Bid-Rig Probe
BusinessWeek
A former co-head of UBS AG's municipal derivatives group faces a fraud charge tied to a $100,000 kickback for steering an investment agreement with a U.S. state to another bank.
http://jlne.ws/ijyR99