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Congress Financial Reform

  • WASHINGTON, Oct 27- Credit unions will be able to more easily expand into markets dominated by banks after a reform vote on Thursday, industry officials say, as regulators clear the way for the not-for-profits lenders. "We expect the NCUA to ease unnecessary regulatory restrictions," said Carrie Hunt, a lobbyist for the National Association of Federal Credit...

  • BEIJING, Oct 26- China's central bank will take into account off-balance sheet financing at commercial banks to assess their overall financial health, three sources with direct knowledge of the matter said late on Tuesday. The People's Bank of China will make the change to its so-called Macro Prudential Assessment risk-tool to broaden its regulatory...

  • BEIJING, Oct 24- China's banking regulator plans to allow local governments to set up more asset management companies as part of a broader effort to manage corporate debt and reduce the growing volume of troubled bank loans that pose a risk to the economy. The China Banking Regulatory Commission is relaxing rules that only allow one local AMC per province, three...

  • Greece has completed all major reforms agreed last year: Min

    Is Greece’s government doing enough to implement structural reforms? The country’s Minister of State, Nikos Pappas, weighs in.

  • NEW YORK, Oct 18- New York's brick-and-mortar banks should pursue business opportunities in online lending, an industry now dominated by many out-of-state startup companies, the head of the state's financial regulator said on Tuesday. "Your competitors are, and will, be embracing fintech in all of its various forms," said Maria Vullo, New York State Department of...

  • *China asset management regulator tightens rules on risk. SHANGHAI, Oct 17- New rules in China aimed at curbing risk and speculation have triggered an exodus of institutional cash from the country's commodities futures markets and hobbled a thriving niche business for brokers. The slump in trade is a blow for the likes of the Shanghai Futures Exchange and the...

  • *Singapore traders say offered credit by BOCI, ICBC. MELBOURNE, Oct 12- Chinese banks are stepping up lending to midsize metals traders in Singapore, pushing into a gap in the market as U.S. regulations and fading appetite for risk drive Western rivals to focus on larger commodity merchants, metals industry sources said. Three executives at medium-sized metals...

  • President Barack Obama contemplates the State of the Union in the Oval Office.

    President Obama writes in "The Economist" that the current political climate is tense, but there is "a hope for the future" of the economy.

  • *German watchdog sees no evidence of Russia money laundering lapses- sources. WASHINGTON/ FRANKFURT, Oct 6- IMF chief Christine Lagarde gave Deutsche Bank some tough advice on Thursday, saying Germany's biggest lender needed to reform its business model and rapidly reach a deal with U.S. regulators over a potentially huge fine. A senior European official tried...

  • *German watchdog sees no evidence of Russia money laundering lapses- sources. WASHINGTON/ FRANKFURT, Oct 6- IMF chief Christine Lagarde gave Deutsche Bank some tough advice on Thursday, saying Germany's biggest lender needed to reform its business model and reach a rapid deal with U.S. regulators over a potentially huge fine. A senior European official tried to...

  • WASHINGTON, Oct 4- Leading U.S. banks on Tuesday submitted updated "living wills" to regulators who must decide whether Wall Street firms can be unwound without taxpayer help or should be broken up. Eight of the largest banks handed in paperwork on how they would be dissolved in a crisis to the Federal Reserve and Federal Deposit Insurance Corp before those...

  • Europe is fundamentally over banked: Strategist

    David Lebovitz, global market strategist at J.P. Morgan Asset Management, explains why he prefers U.S. bank shares over their European counterparts.

  • Room for a different type of fiscal police in Greece: Opposition

    Kyriakos Mitsotakis, president of the Greek New Democracy opposition party, says that the current government is "pretending to implement real reforms."

  • FRANKFURT, Sept 29- Britain will have no choice but to stick with European Union banking laws when it leaves the bloc to avoid blowing a "huge hole" in its regulatory system, a financial industry lobbyist said on Thursday. This would blow a huge hole in Britain's regulatory system, "Bishop, who sits on the executive committee of the Financial Services Negotiation...

  • WASHINGTON, Sept 28- Federal Reserve Chair Janet Yellen was thrust into the election-year boxing ring during a congressional committee hearing on Wednesday, defending the central bank's regulatory role, taking and landing punches on Wells Fargo and other banks considered too big to fail, and addressing accusations of political conflicts of interest.

  • Vietnam Investors

    Vietnam's new government is pushing for a privatization program and raising the foreign ownership limits for Vinamilk, says CIMB's Michael Kokalari.

  • NEW YORK, Sept 27- A former Goldman Sachs Group Inc managing director and the bank have settled dueling lawsuits over his claim for legal fees stemming from probes into his alleged use of confidential U.S. Jiampietro had sued Goldman in July to force it to cover his legal expenses, then estimated at $450,000, for probes the Fed and the Financial Industry...

  • LONDON, Sept 23- Britain's HSBC is seeking to release billions of dollars of capital tied up in the United States without upsetting the country's politicians and regulators, senior sources at the bank said. HSBC, which has been in the sights of U.S. regulators over breaching anti-money laundering rules, has more than $20 billion of capital in the United States...

  • NEW YORK, Sept 20- The U.S. judge overseeing litigation accusing 16 banks of rigging prices in the $5.3 trillion- a-day foreign exchange market on Tuesday narrowed but refused to dismiss lawsuits against Deutsche Bank, Morgan Stanley and five other large banks that have yet to settle. District Judge Lorna Schofield in Manhattan dismissed antitrust claims in a...

  • NEW YORK, Sept 20- The U.S. judge overseeing litigation accusing 16 banks of rigging prices in the $5.3 trillion- a-day foreign exchange market on Tuesday narrowed but refused to dismiss lawsuits against Deutsche Bank, Morgan Stanley, and five other large banks that have yet to settle. District Judge Lorna Schofield in Manhattan dismissed antitrust claims...