Portugal Reaches Deal on Bailout
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Citigroup Is Said to Hire Former UBS Americas Investment Banking Chief Cox
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The Fed's Language Problem on Inflation
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Spain’s cajas reshape corporate landscape
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Commodity Futures Trading Commission Votes to Establish a New Subcommittee of the Technology Advisory Committee
Press Release
Commissioner Scott D. O’Malia, the chairman of the Technology Advisory Committee (TAC), announces that the Commission has voted to establish a Subcommittee on Data Standardization to develop recommendations regarding a standardized reference data depository representing the universe of legal and financial terms utilized in describing, defining, and valuing the various derivatives and other financial instruments which are presently and in the future may be traded on and off of regulated exchanges.
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Moody's Points to Countrywide 'Challenges'
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Freddie’s Capital Markets Chief Announces Departure
IDD
GSE sources and advisors close to both Fannie Mae and Freddie Mac say the two are beginning to witness more high level departures as the job market improves for financial services executives.
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‘ET’ stokes fears about sweeping swaps rules
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Timing Of European CDS Probe Piques Interest
By Katy Burne Of DOW JONES NEWSWIRES
The timing of European authorities' antitrust investigation into the $30 trillion credit default swap market has industry participants wondering what sparked the probe now, and not before. The decision to review alleged preferential treatment of certain vendors by major swap dealers is curious because regulators are already working to break up the clubby world of derivatives trading by steering over-the-counter instruments onto transparent platforms with near-real-time reporting, said Kevin McPartland, senior analyst at TABB Group, in a market commentary Tuesday
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Banks anxious over Fed regulations
By Tom Braithwaite in Washington and Justin Baer and Aline van Duyn in New York - Financial Times
Wall Street banks are warning they may have to cede much of the European derivatives market to the likes of Deutsche Bank and Barclays Capital if US regulators follow through on proposals to apply new regulations extraterritorially. The Federal Reserve and other banking regulators recently proposed rules that would force the non-US arms of US banks to collect collateral, or “margin” in the form of cash or securities, “without regard to whether the counterparty is located inside or outside the United States”.
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Swaps Players Seek Clarity from U.S. Regulators
Finance Technology Network
Wall Street banks and major market players said they are equipped to comply with derivatives reforms, but accused U.S. regulators of dragging their feet on clarifying how and when they will go into effect.
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EU Financial System Still Weighed Down By Risk - European Parliament
Press Release
The risk burden still threatens Europe's financial stability, and the crisis aftermath will last many years, the two vice chairs of the EU's new financial risk watchdog warned the Economic and Monetary Affairs Committee on Monday. Mervyn King and Andrea Enria repeatedly called for the EP's support when pushing through difficult reforms, particularly in better times when the financial sector would lobby fiercely against regulation.
Geithner: U.S. to press China on bank reform
Market Watch
Treasury Secretary Timothy Geithner said Tuesday that the U.S. is going to begin pressing China to move more quickly to reform its financial sector. In comments before the U.S.-China Business Council, Geithner called bank reform "the next frontier" in China's efforts to become a more balanced economy. Geithner, ahead of strategic dialogue talks next week, said the U.S ...
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Morgan Stanley, Goldman Counter Bearish Gross on Treasuries
BusinessWeek
Morgan Stanley and Goldman Sachs Group Inc. are dropping bets against Treasuries.
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S.Korean banks' profits rise 1.2% in Q1
US News Las Vegas - Philippines
South Korean banks' net profits rose 1.2 percent in the first quarter from a year earlier as gains in interest income and derivatives trading offset an increase in provisions for loan losses, the financial regulator said Tuesday.
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Portugal deal earmarks E12bn for banks
By Peter Wise in Lisbon - Financial Times
More than 15 per cent of Portugal’s E78bn financial rescue package will be used to shore up the country’s banks, which will be required to increase their capital substantially over the next 18 months, according to sources close to the negotiations.
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The central bank’s role in the currency derivatives mess
The Reserve Bank of India last week fined as many as 19 public, private sector and foreign banks for contravening its norms on the use of over-the-counter derivatives. The list of banks includes the largest in the country such as State Bank of India, ICICI Bank Ltd, HDFC Bank Ltd, Axis Bank Ltd, Citibank NA and Standard Chartered Bank.
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SIFMA Supports United States Covered Bond Act Of 2011
Press Release
SIFMA today issued the following statement from Ken Bentsen, executive vice president, public policy and advocacy in support of H.R. 940, the United States Covered Bond Act of 2011, which faces a vote in the Subcommittee on Capital Markets and Government Sponsored Enterprises of the House Financial Services Committee.
http://jlne.ws/mimk8s
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