Showtime for House Republican spending cuts
By Richard Cowan, Reuters
One day after President Barack Obama presented Congress with his $3.7 trillion budget, the focus shifts on Tuesday to Washington's more immediate spending needs and a controversial spending-cut bill that Republicans hope to pass in the House of Representatives.
http://jlne.ws/gbufOI
Brazil Finance Chief Renews Attack on Fed
By Brenda Cronin, WSJ.com
Brazilian Finance Minister Guido Mantega on Tuesday renewed his attack on the Federal Reserve’s most recent program of quantitative easing, saying the policy had goosed global flows of hot capital and heightened the global problems of rising commodity prices and inflation.
http://jlne.ws/h5oMl5
LCH.Clearnet announces new Chief Executive
London, 15 February 2011--LCH.Clearnet Group (LCH.Clearnet), the world's leading independent clearing house group, has appointed Ian Axe as chief executive of both LCH.Clearnet Group Limited (the group holding company) and LCH.Clearnet Limited (the UK based subsidiary). Mr Axe joins from Barclays Capital where he was most recently global head of operations and COO EMEA. He will replace Roger Liddell, who has been chief executive since July 2006 and who announced his intention to retire in July 2010.
http://jlne.ws/gOzbJb
BGC Partners Completes First Fully Electronic Australian Dollar Interest Rate Swap Transaction on BGC Trader
Feb. 13, 2011 (Business Wire) —BGC Partners, Inc. (Nasdaq: BGCP) (“BGC”), a leading global intermediary to the wholesale financial markets, announces its first fully electronic Australian Dollar Interest Rate Swap (IRS) trade using BGC’s award-winning Volume Match tool on the BGC™ Trader platform.
http://jlne.ws/dNMoFH
Fed bought $6.689 bln Tsys due to mature between 2/28/15 and 8/15/16
The purchase or sale of Treasury securities on an outright basis adds or drains reserves available in the banking system
http://jlne.ws/dcRpcM
Global Demand for U.S. Assets Declined in December
By Vincent Del Giudice, Bloomberg
Global demand for U.S. stocks, bonds and other financial assets fell in December from a month earlier, the Treasury Department reported.
http://jlne.ws/fNxzrL
Turkey Leaves Rates on Hold
BY ERKAN OZ, WSJ.com
Turkey's central bank held its key interest rate at a record low on Tuesday, pausing its controversial policy of cutting rates as central banks in other emerging markets raise theirs.
http://jlne.ws/eUwXNY
Warren Buffett Speaks Out About the Financial Crisis
The Motley Fool
Where we came from, what we went through, and where we're going next.
http://jlne.ws/hmEHyD
U.S. Banks Say Fed Should Scrap Proposed Debit Caps
BusinessWeek
The Federal Reserve Board's proposed caps on debit-card transaction fees have drawn "broad and deep opposition" from U.S. banks and payment networks and should be withdrawn, according to an industry panel.
http://jlne.ws/fPcT6f
Ben's 'deathbed' defense
New York Post
Federal Reserve Chairman Ben S. Bernanke said he would defend to his "deathbed" his actions prior to the bankruptcy of Lehman Brothers Holdings Inc., in an interview with the commission probing the causes of the financial crisis. "I will maintain to my deathbed, that we made every effort to save...
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CME signs up dealers for swap clearing
By Michael Mackenzie in New York and Hal Weitzman in Chicago - Financial Times
CME Group announced on Monday that is has signed up a group of 10 global swap dealers as founding members for its clearing service for over-the-counter interest-rate swaps. This brings together a host of big dealers with buyside investment firms including BlackRock, Citadel, Fannie Mae, Freddie Mac, and Pimco. Since the CME clearing service was launched last October, it has cleared just under $1bn in gross notional value.
http://jlne.ws/hqaPJp
RTS Launches Trading In Futures On Federal Loan Bonds Basket
Press Release
On February 17, 2011 trading in futures contracts on a basket of federal loan bonds will start on FORTS, options and futures market of OJSC RTS.
http://jlne.ws/gFuySF
Barclays beats forecasts with 32% rise
By Adam Jones - Financial Times
Barclays increased its profit from continuing operations by a third in 2010, while awarding £3.4bn of bonuses and other performance-related payments to staff. Bob Diamond, the bank’s new chief executive, also announced on Tuesday that he would increase the pace and intensity of efforts to improve its financial performance in a tightening regulatory environment.
http://jlne.ws/fAXdnh
Gates Foundation Reports No Position In Goldman Sachs
By Steven D. Jones
The Bill and Melinda Gates Foundation, the world's largest private philanthropy, made few significant adjustments to its portfolio in the last quarter of 2010, with the exception of eliminating its position in Goldman Sachs Group Inc. (GS).
http://jlne.ws/fBeLUC
BNP Paribas, Citigroup Suspend Ivory Coast Operations
Dow Jones
Two international banks have temporarily suspended operations in Ivory Coast, after the Central Bank of West African States warned banks in the region Friday that dealing with the disputed Ivory Coast regime of Laurent Gbagbo makes them open to sanctions.
http://jlne.ws/gqnzYl
EU banks to get ‘single rulebook’
By Brooke Masters and Patrick Jenkins in London - Financial Times
The head of the European Union’s new banking authority has warned that he plans to use the “true power” of a single set of rules to impose more uniform oversight on banks. The move potentially emasculates national regulators in EU member states, such as the UK’s Financial Services Authority. Some bankers fear it may harm innovation and competitiveness.
http://jlne.ws/frESDu
DTCC Launches Portal Providing Regulators Globally Direct, on-line Access to CDS Data and Tailored Reporting
Press Release
LONDON & NEW YORK--(EON: Enhanced Online News)--The Depository Trust & Clearing Corporation (DTCC), announced today, that it has launched an automated portal to provide regulators worldwide with direct, on-line access to global credit default swap (CDS) data registered in DTCC’s Warehouse Trust Company LLC (Warehouse Trust) global repository.
http://jlne.ws/fuyrwR
Even Paulson’s Friends Pitied His Subprime Bet
NY Times
In a 2010 interview with the crisis commission, John Paulson reveals just how much flack he got from peers for his subprime bet — which netted his hedge fund firm $15 billion.
http://jlne.ws/htCAD7
BankMuscat to offer payments in Chinese yuan under tie up with Bank of China
Thaipr.net
BankMuscat, the leading financial services provider in the Sultanate, has become the first Omani bank to enable payments in Chinese currency Remnimbi (RMB) or Yuan (CNY). BankMuscat has opened a Yuan
http://jlne.ws/enQIwn
Man with bat shows up at UBS, demands to see 'president'
Stamford Advocate
STAMFORD -- City police are looking for a man who appeared at UBS' sales and trading headquarters on Washington Boulevard brandished a baseball bat after asking for "the president."
http://jlne.ws/hZlUZ8
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