Experts worry that the risk of falling into another recession has increased
By Chris Isidor, CNN Money
Experts worry that the risk of falling into another recession has increased, according to a CNNMoney economic survey.
http://ow.ly/5eYgR
CFTC, SEC to Host Public Roundtable Discussion on Proposed Dealer and Major Participant Definitions under Dodd-Frank
The staffs of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) today announced that they intend to hold a joint public roundtable on June 16, 2011, to discuss proposed definitions required under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
http://jlne.ws/lTb9Iw
Tentative Outright Treasury Operation Schedule - Federal Reserve Bank of New York
http://jlne.ws/hp922J
Why some Greek bonds might be worth more than others
The Economist
IT TOOK some time, but Germany finally seems to be addressing how, rather than if, a Greek restructuring will occur. Finance Minister Wolfgang Schäuble has written to the ECB demanding a lengthening of bond maturities as a condition of further German lending to Greece. As our leader this week argues, this will not be enough to restore Greece to solvency. If it wasn't for ECB opposition, Germany might be willing to go much further. Last year Angel Merkel called for irresponsible investors to be punished for mispricing sovereign default risk. She is not averse to imposing haircuts on bondholders. Bailing them out, after all, creates moral hazard.
http://jlne.ws/mdXfv6
Spain Approves Measure to Free Up Labor Market
By RAPHAEL MINDER, The New York Times
The Spanish government approved Friday measures intended to reduce chronically high unemployment by introducing more flexibility in labor relations, despite failing to get support from employers and unions for the changes.
http://jlne.ws/lv5lVz
French court postpones decision on Lagarde probe
By Peggy Hollinger, FT.com
Christine Lagarde, French finance minister, will have to wait another month to know whether she will be placed under judicial investigation for her role in the award of a €285m payment to controversial businessman Bernard Tapie. A French court on Friday decided to postpone until July 8 a decision on whether to launch a full judicial inquiry into Ms Lagarde’s actions in resorting to an arbitration panel in a long-running legal dispute with Mr Tapie.
http://jlne.ws/ikMjxu
Chill out on QE3, but beware debt default: Sonders
By Jonathan Stempel, Reuters
The economy does not need a third round of stimulus but could convulse if lawmakers fail to raise the nation's debt ceiling, the chief investment strategist at the largest U.S. discount brokerage operator said on Wednesday.
http://jlne.ws/kqYCTD
Fed's Dudley: Growth to pick up, but risks increased
Market News International
New York Federal Reserve Bank President William Dudley Friday said that it is important to watch a broad variety of inflation indications, noting some have "drifted upward" in the first half of 2011 but have come down in recent weeks.
http://jlne.ws/mL04eU
Dodd-Frank Rules To Be Finished In Same Order Proposed -CFTC
By Katy Burne Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The earliest set of completed rules stemming from the Dodd-Frank financial overhaul law will likely focus on anti-manipulation, reporting by large trading firms and certain clearinghouse procedures, Gary Gensler, chairman of the Commodity Futures Trading Commission, said Thursday. That's because those rule proposals were released first, in October and November following passage of the Dodd-Frank law last summer, Gensler told reporters at an industry conference in New York. Rules that will come later include capital and margin requirements for backstopping trades, segregation of margin for cleared swaps and a range of product definitions, since these were proposed more recently, Gensler said at the Sandler O'Neill + Partners global exchange and brokerage conference.
Dodd-Frank Swaps Rules to Create ‘Black Hole’ Because of Unresolved Issues
By Alan Bjerga, Bloomberg
Swaps users may face a “black hole” when Dodd-Frank Act rules take effect next month because too much remains unresolved for markets to operate properly, the Senate Agriculture Committee’s top Republican said.
http://jlne.ws/lo88fP
Chicago Fed Debuts Calculator For Derivatives-Market Revamps
By Jacob Bunge Of DOW JONES NEWSWIRES
The Federal Reserve Bank of Chicago has devised a computer program that could help central banks and regulators in other countries measure the effect of their own derivatives-market overhauls.
http://jlne.ws/jnnWlo
A Bank Regulatory Logjam May Be Easing
By BINYAMIN APPELBAUM, NY Times
WASHINGTON — The Obama administration, moving to fill vacancies at several financial regulatory agencies, is considering nominating Thomas J. Curry to head the Office of the Comptroller of the Currency, which oversees most of the nation’s large banks, according to several people with knowledge of the deliberations.
http://jlne.ws/jVPssn
Goldman settles probe over research huddles
eFinancial News
Goldman Sachs will pay $10m to settle an investigation by Massachusetts' securities regulator into communications among its analysts, traders and select clients.
http://jlne.ws/jEXG8C
ING Readies Sale of U.S. Online Bank
BY ROBIN VAN DAALEN AND MAARTEN VAN TARTWIJK - WSJ
AMSTERDAM—ING Groep NV said Friday it is taking steps to divest its U.S. online bank without indicating when a sale would happen, and said its priority for 2011 is to prepare its insurance businesses for a stock-market listing.
http://jlne.ws/lxJ8jx
UBS Is Staying in Stamford, Mayor Says
The Daily Stamford
Stamford Mayor Michael Pavia says UBS has told him it will not be moving out of Stamford.
http://jlne.ws/kSFvQ8
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