More banks targeted in New York probe
By Kara Scannell and Justin Baer in New York, Financial Times
The New York state attorney-general’s probe into mortgage practices at large banks has expanded to include Royal Bank of Scotland, UBS, JPMorgan Chase and Deutsche Bank, bringing the number of banks under scrutiny to seven, people familiar with the matter say.
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Swaps Users Urge CFTC to Drop Quote System to Get Better Prices
http://jlne.ws/mLnjj1
OECD looks to measure the ‘better life’
By Chris Giles in Paris - Financial Times
It is time to move beyond gross domestic product when measuring the success of societies, the Organisation for Economic Co-operation and Development, has concluded in a change of mission for the international organisation. Known for most of its 50 years as an establishment of orthodox economics, promoting structural reforms to boost GDP growth, it launched a “better life initiative” on Tuesday to measure the quality of life in the Organisation’s 34 member countries.
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City of London concerned by Mifid poll
By Jeremy Grant, Financial Times
The City of London has expressed concern after a poll of brokers and asset managers based in continental Europe showed some believed that rules allowing large blocks of trades to be done without prices displayed beforehand could undermine market transparency.
http://jlne.ws/kKPCWM
France: China Backs Lagarde as IMF Head
By INTI LANDAURO And OWEN FLETCHER, WSJ
PARIS—China backs French Finance Minister Christine Lagarde as a candidate to head the International Monetary Fund, the French government's spokesman, Francois Baroin, said Tuesday.
http://jlne.ws/kr0mhY
JPMorgan, UBS, Deutsche Bank Said to Face N.Y. Mortgage Probe
BusinessWeek
JPMorgan Chase & Co., UBS AG and Deutsche Bank AG are being investigated as part of New York Attorney General Eric Schneiderman's expanded probe of mortgage securitization, according to a person familiar with the matter.
http://jlne.ws/khiVux
How an Inquiry of Goldman Sachs Might Play Out
By PETER J. HENNING, NY Times
Goldman Sachs has already received subpoenas from unnamed regulators investigating its mortgage securities operations. Now, federal prosecutors appear to be interested in those operations as well, and subpoenas could follow. If so, this would signal a new — and potentially more threatening — inquiry into its conduct during the financial crisis.
http://jlne.ws/iqHUHx
Treasury set to make small profit in sale of AIG stock
By Justin Baer and Telis Demos in New York and Tom Braithwaite in Washington - Financial Times
American International Group and its largest investor, the US Treasury, are poised to raise at least $8.7bn through a sale of stock on Tuesday, handing the federal government a small profit on the deal, people familiar with the matter said.
http://jlne.ws/j99zwa
Vickers to insist on bond-funded debt buffer
By Patrick Jenkins and Sharlene Goff, Financial Times
Britain’s banks could be forced to hold capital equivalent to half as much again of their minimum equity requirements, under plans being considered by the Independent Commission on Banking.
http://jlne.ws/jOJFqo
Community Banks Lobby to Limit New Regulations
By BEN PROTESS, NY Times
Network television ads appearing in the Washington area feature an anxious woman who cautions that “community banks and credit unions will be squeezed” by “bad” regulation.
http://jlne.ws/mmZ7Ap
Goldman Banker Hired by VTB Capital to Lead Overseas Unit
BusinessWeek
VTB Capital Plc, the investment- banking arm of Russia's second-largest lender, hired Atanas Bostandjiev from Goldman Sachs Group Inc. as its U.K. and international head.
http://jlne.ws/m59mlM
Citi hires ex-CEO of PricewaterhouseCoopers
Reuters via Yahoo! Canada News
Citigroup Inc has hired Samuel Di Piazza, Jr, the former chief executive of PricewaterhouseCoopers , to help its faltering investment bank rebuild after the financial crisis.
http://jlne.ws/m65R1X
Ex-Fed Official to Join Barclays as Senior Policy Advisor
Wall Street Journal Blogs
Brian Madigan, who ran the Federal Reserves powerful monetary affairs group, is joining Barclays Capital as a senior policy adviser, according to an internal memo announcing the hire.
http://jlne.ws/issULs
Bank of America to Settle Overdrafts Suit for $410 Million
By ANDREW MARTIN, NY Times
Bank of America would pay $410 million to settle its piece of a broad lawsuit involving excessive overdraft fees on debit cards in a deal tentatively approved by a federal judge in Miami on Monday.
http://jlne.ws/lHeK6S
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