Congress Financial Reform

  • LONDON, April 21- The European Union will propose changing the bloc's rules on bank capital requirements to ease the burden on smaller lenders in a bid to boost growth, EU financial services chief Jonathan Hill said on Thursday. Such moves towards more "proportional" rules for smaller lenders have been long-called for by industry and supported by governments in...

  • April 21- New York state's financial regulator has told 13 foreign banks doing business there to hand over details about their dealings with a law firm in Panama that helped set up thousands of shell companies, a person familiar with the matter confirmed. The move by the New York Department of Financial Services came weeks after the International Consortium of...

  • *U.S. banks donated to campaign for Britain to stay in EU. LONDON, April 20- U.S. financial regulators are demanding regular updates from Wall Street banks about their contingency plans should Britain vote to leave the European Union, banking and regulatory sources told Reuters. Scenarios under scrutiny range from how their London operations would handle...

  • SHANGHAI, April 20- China's banking regulator has urged Shanghai's lenders to rein in risks connected with bills of exchange, according to two sources with direct knowledge of the matter and a memo circulated by the financial watchdog on Tuesday. The Shanghai branch of the China Banking Regulatory Commission instructed domestic lenders in the city to...

  • LONDON, April 19- British finance minister George Osborne said he would give parliament the right to veto future appointments to run the country's Financial Conduct Authority, which has sweeping powers over the banking industry. Osborne also said chief executives of the FCA would be subject to a fixed, renewable, five-year term although this would only apply...

  • WASHINGTON, April 14- The regulator of Fannie Mae and Freddie Mac said on Thursday it would allow the government-controlled mortgage finance companies to cut loan balances for thousands of U.S. borrowers who owe more than their homes are worth. The Federal Housing Finance Agency said the principal reduction program would be a one-time offering for seriously...

  • QE is a new financial bubble: Philip Jennings

    Philip Jennings, general-secretary at UNI Global Union, discusses problems in Argentina's economy and says QE is forming another financial bubble.

  • SHANGHAI, April 16- China's hedge fund operators can expect more stringent regulation from their self-regulatory industry body in an intensifying crackdown on "Wild East" fraud and illegal money raising, the Asset Management Association of China said. Hedge funds have attracted increased scrutiny in China amid fears the relaxed registration-based...

  • WASHINGTON, April 14- The regulator of government-controlled mortgage finance companies Fannie Mae and Freddie Mac said on Thursday it would allow the two to cut loans balances for thousands of U.S. borrowers who owe more than their home is worth. The Federal Housing Finance Agency said the principal reduction program would be a one-time offering for...

  • LONDON, April 14- Britain's markets regulator is seeking to ban former UBS trader Arif Hussein from the financial services industry for allegedly attempting to rig Libor benchmark interest rates- an accusation described by Hussein as a "gross misrepresentation." The Financial Conduct Authority, which has banned six people and fined a string of banks as part of...

  • April 13- U.S. federal regulators said five out of the eight biggest U.S. banks do not have credible plans to operate without relying on taxpayer money in case of a bankruptcy and gave them until Oct. 1 to make amends or risk sanctions. The Federal Deposit Insurance Corporation and the Federal Reserve jointly failed the plans, commonly called "living wills", of Bank of...

  • WASHINGTON, April 13- U.S. regulators failed five big banks on Wednesday, including JP Morgan and Wells Fargo, on their plans for a bankruptcy that would not rely on taxpayer money, giving them until Oct. 1 to make amends or risk sanctions. Nearly a decade after the financial crisis, it underscored how the debate about banks being "too big to fail" continues to rage in...

  • The "living wills" that the Federal Reserve and Federal Deposit Insurance Corporation jointly agreed were not credible came from Bank of America, Bank of New York Mellon, J.P. "The FDIC and Federal Reserve are committed to carrying out the statutory mandate that systemically important financial institutions demonstrate a clear path to an orderly failure...

  • The "living wills" that the Federal Reserve and Federal Deposit Insurance Corporation jointly agreed were not credible came from Bank of America, Bank of New York Mellon, J.P. "The FDIC and Federal Reserve are committed to carrying out the statutory mandate that systemically important financial institutions demonstrate a clear path to an orderly failure...

  • *CMB finalising plans to set up 1st branch in Australia- sources. SYDNEY, April 13- China's banks are muscling into Australia by financing fast-growing Chinese property and corporate investments Down Under, invoking a warning from the Australian regulator that rapid expansion by foreign lenders is a potential systemic threat. Total loans by Chinese banks...

  • WASHINGTON, April 12- U.S regulators are preparing to notify some of the country's largest banks, including JPMorgan Chase& Co, that they have submitted flawed "living wills," the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The Federal Deposit Insurance Corporation and the Federal Reserve, the two regulators reviewing the...

  • NEW YORK, April 12- Approval of a new regulatory standard related to the U.S. stock exchange application of startup trading platform IEX Group would prompt exchanges to create thousands of new order types and greatly complicate the market, the head of Nasdaq Inc said on Tuesday. The U.S. Securities and Exchange Commission said in a policy statement on March 18 it...

  • Santelli Exchange: Time is...'debt'

    CNBC's Rick Santelli looks at the state of global financial markets.

  • Italy has room for more reform: EU commissioner

    Jyrki Katainen, jobs commissioner for the European Commission, talks about the importance of reforms and discusses Italy's government.

  • SYDNEY, April 10- Australian banks famously rode out the 2008 financial crisis with barely a scratch, but no longer are they the exemplar of success, as a commodity rout ravages the economy and a growing storm of accusations over misconduct threatens to tar their name. Last week, Westpac Banking Corp became the second Australian lender after ANZ Banking Group to...