Publication: New York Times Author: Floyd Norris 9/19/2013 —Bank regulators around the world are forcing banks to hold more capital than they did before the financial crisis revealed just how inadequate their capital truly was. But one set of American banks appears to be on the verge of keeping the right to have no capital at all. […]
Publication: Bloomberg Author: Dave Michaels 9/18/2013 —Money-market mutual fund providers and the municipalities and corporations relying on them to manage cash are telling U.S. House lawmakers to be wary of new regulation for the $2.6 trillion industry. The groups are using a House Financial Services panel’s hearing in Washington today to kick off a lobbying campaign against a Securities […]
Publication: Bloomberg Author: Dave Michaels and Christopher Condon 9/05/2013 —A year ago, when opposition from the asset-management industry killed her plan to make money-market mutual funds safer, U.S. Securities and Exchange Commission Chairman Mary Schapiro looked to Timothy Geithner, then the Treasury Secretary, to tackle “one of the pieces of unfinished business from the financial crisis.” It […]
Publication: Reuters Author: Emily Stephenson 4/09/2013 —A bipartisan group of senators on Tuesday urged bank regulators to finish new capital rules, forcing banks to meet higher capital ratios and rely less on complicated calculations of the riskiness of their assets. Debate in Washington has heated up over whether the 2010 Dodd-Frank law and other measures did enough […]
Publication: New York Times Author: Diana Henriques 4/06/2013 —This is the kind of market that makes cautious investors long for the comfort of cash. Stocks? They seem a little frothy. Bonds? Ugh — low rates, inflation worries. Real estate? Still a hard sell. For decades, investors have waited out financial fogs like these in the haven of money […]
Publication: Wall Street Journal Author: Sheila Bair 4/01/2013 —The recent Senate report on the J.P. Morgan Chase “London Whale” trading debacle revealed emails, telephone conversations and other evidence of how Chase managers manipulated their internal risk models to boost the bank’s regulatory capital ratios. Risk models are common and certainly not illegal. Nevertheless, their use in bolstering […]
Today, Systemic Risk Council (SRC) chair Sheila Bair welcomed Alice M. Rivlin as the newest member of the Council: “Alice Rivlin is a leading voice on financial policy, with a breadth of experience which is second to none. I am pleased and honored that she has agreed to join the SRC,” Bair stated. Alice Rivlin […]
Publication: Politico Author: Brooksley Born and William Donaldson 3/10/2013 —Washington has been abuzz with the automatic, across-the-board spending cuts taking effect, known as the sequester. While many have been focused on the impact on education, law enforcement and transportation safety, another important area that deserves attention is the impact on our financial market regulators: the […]
Publication: Yahoo! Finance Author: John Rogers 12/20/2012 —I watched the movie “Contagion” on a recent flight to Asia. It tends to dampen the enthusiasm for culinary adventures. In reality, it’s a lot more likely that our next global contagion will come from financial markets, and not from some butcher shop in Asia. Everything we know about financial systems points […]
Publication: New York Times Author: Edward Wyatt 11/13/2012 – WASHINGTON — A council of top financial regulators, upset with the Securities and Exchange Commission for failing to strengthen rules governing money market mutual funds since the financial crisis, is trying to force the S.E.C. to adopt stricter regulations. The Financial Stability Oversight Council, a group of 10 regulators that includes the S.E.C. chairwoman, […]