CNBC's Mary Thompson reports Bank of America, Citi Group, and JPMorgan Chase are among 16 big banks being sued by FDIC for manipulating the LIBOR benchmark interest rate.» Read More
WASHINGTON, April 8- The U.S. Federal Deposit Insurance Corp voted on Tuesday to adopt tougher leverage requirements for the biggest U.S. banks. The rules set a leverage ratio of 6 percent for big banks and 5 percent for their holding companies. The new requirements would take effect in 2018, regulators said.
The Federal Reserve, the Federal Deposit Insurance Corp. and the Treasury's Office of the Comptroller of the Currency voted separately to require those banks to raise their minimum ratio of capital to loans to 5 percent from the current 3 percent.
WASHINGTON, April 8- Financial regulators will vote shortly to finalize rules requiring the biggest U.S. banks to meet a 6 percent leverage ratio, the regulators said in documents released on Tuesday. The rules closely follow a proposal issued by the Federal Reserve, Federal Deposit Insurance Corp and Office of the Comptroller of the Currency last year.
March 3- A federal grand jury is probing Citigroup Inc, including its Banamex USA affiliate, over compliance with the U.S. Citigroup, the third-largest U.S. bank by assets, also said Banamex USA had received a subpoena from the U.S. Federal Deposit Insurance Corp, a civil agency.
March 3- A federal grand jury is probing Citigroup Inc, including its Banamex USA affiliate, over compliance with the U.S. The company also said Banamex USA had received a subpoena from the U.S. Federal Deposit Insurance Corp..
"I think we've gotten the details worked out and now it's just getting the schedule and... getting everyone lined up," Federal Deposit Insurance Corp Vice Chairman Thomas Hoenig told reporters at a conference.
WASHINGTON, Dec 10- Two U.S. regulatory agencies on Tuesday voted to unanimously approve the Volcker rule to restrict banks from trading for their own profits. The U.S. Federal Deposit Insurance Corp board of directors and the U.S. Federal Reserve Board of Governors both approved the rule on Tuesday morning.
Discussing the Volcker Rule and the improvements made to make the legislation stronger, with CNBC's Rick Santelli and Sheila Bair, former chair of the FDIC.
CNBC's Eamon Javers details the five key exemptions under the Volcker Rule. Regulators from the FDIC and Federal Reserve are expected to vote to approve the legislation which would ban banks from proprietary trading.
WASHINGTON, Dec 10- The U.S. Commodity Futures Trading Commission, one of five regulators due to adopt the so-called Volcker rule on Tuesday, said it canceled a public vote on the issue because of the threat of a snowstorm in the Washington area. Federal Reserve and the Federal Deposit Insurance Corp- would hold their scheduled votes on Tuesday.
WASHINGTON, Dec 3- The U.S. Federal Reserve and the Federal Deposit Insurance Corp. both announced they would hold Dec. 10 board meetings to vote on the so-called Volcker rule, which bans banks from making bets with proprietary funds.
The President is nominating top Treasury Department official Timothy Massad as head of CFTC, the agency that regulates the futures and options market.
The Federal Deposit Insurance Corp and Office of the Comptroller of the Currency approved similar proposals on Wednesday.
Bank lending is on the rise. The little guy on Main Street is not feeling it, though, so many entrepreneurs are turning to alternative funding sources.
CNBC's Hampton Pearson has the latest numbers on bank earnings.
The big banks should not be allowed to dip into FDIC-insured deposits to engage in risky trading activities, Sen. Elizabeth Warren, D-Mass., said on CNBC Friday, as she pushed for a new, modern-day bank breakup bill.
The FDIC, OCC and the Fed jointly proposed new rules on bank borrowing that could hamper lending. The new rules will make the biggest banks fund 5 percent of their assets.
Dick Bove, Rafferty Capital analyst, explains why the new banking regulation is a "turf war" between the Fed, which believes in the Basel III approach to capital, and the FDIC.
The FDIC on Tuesday will propose a leverage rule requiring big banks to have common equity equal to at least 5 percent of their assets, sources tell CNBC.
The FDIC's stricter leverage rules will be announced on Tuesday, reports CNBC's Kate Kelly. The FDIC is expected to raise the key leverage ratio for banks to 5 percent from 3 percent.