- China: Low US Interest Rates Threaten Recovery
- Hedge Fund Billionaire Paulson Reports New Citi Stake
- White House Plans to Freeze Spending to Cut Deficit
- Cramer: 5 Earnings Reports to Watch Next Week
- Court Rejects 'Clawbacks' for Alleged Stanford Victims
- Cities With the Most Home Price Reductions
- Tax Credit Sparking First-Time Home Sales: Realtors
- Investors Cut Back US Stocks for Bigger Growth Abroad
- This Year's Biggest Thanksgiving Leftover: Cash
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
- First Time Buyers Rescue Housing: Realtors
- Dollar General Trades Higher After Its IPO
MOST SHARED
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- Today's Market Action
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Israel Going Green
- Inside Wal-Mart's Acai Berry Juice Maker
- Low Interest Rate Investing
- China's Role as Lender Alters Dynamics for United States
Text Size 
The Federal Reserve and Securities Exchange Commission (SEC) are finalising an agreement to start the process of redrawing how Wall Street is regulated, the Wall Street Journal said on its website on Sunday.
The agreement, which could be announced this week, aims to fill gaps in regulatory oversight and will increase cooperation between the central bank and the SEC in the wake of the near-collapse of Bear Stearns [BSC Loading... ()], the report said.
The type of information to be shared between the two would include data regarding settlements, trade and positions. The SEC will also get information from the Fed on short-term financing from the banks that clear trades and hold collateral for the securities firms, the report said.
Under the agreement, the Fed would be able to see an investment bank's trading positions, its leverage and its capital requirements, the Journal said.
The change will expand the Fed's oversight of the financial system to include investment banks, the report said.
Currently, the SEC has oversight of brokerage firms while the Fed has oversight of bank holding companies and commercial banks.
Print
Email
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.
- A wealthy, distracted Texas driver crashed his million-dollar Bugatti Veyron sports car into a salt marsh, say police.
Data is a real-time snapshot *Data is delayed at least 15 minutes