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Financial Reform

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  • Washington has ZERO credibility: Bill Ehrman Wednesday, 21 Jan 2015 | 12:28 PM ET
    Speaker of the House John Boehner (R) listens to President Barack Obama deliver the State of the Union address on January 20, 2015 in the House Chamber of the U.S. Capitol in Washington, DC.

    Recent moves by the Swiss and Chinese are about one thing: credibility. Washington, on the other hand, has zero credibility, says hedge-fund manager Bill Ehrman.

  • WASHINGTON, Jan 20- More regulation may be needed for a key part of the banking industry's profit engine, a top Federal Reserve official said on Tuesday, as regulators continue to determine ways to make markets safer and more transparent. Fed Governor Jerome Powell said efforts to improve safeguarding against improper uses of information across the fixed...

  • HONG KONG, Jan 19- Derivatives watchdogs are expected to agree a new timeline for the introduction of margin requirements for swaps transactions after strong resistance from the international banking industry, Europe's top securities regulator said. Speaking on the sidelines of the Asia Financial Forum in Hong Kong on Monday, Steven Maijoor, chair of the...

  • Global regulators mull swaps rules reprieve Monday, 19 Jan 2015 | 6:22 AM ET

    HONG KONG, Jan 19- Derivatives watchdogs expect to agree a new timeline for the introduction of new capital requirements for swaps transactions after strong resistance from the international banking industry, Europe's top securities regulator said. Speaking on the sidelines of the Asia Financial Forum in Hong Kong on Monday, Steven Maijoor, chair of the...

  • What's behind weak China housing, lending data?  Sunday, 18 Jan 2015 | 9:11 PM ET

    Tim Condon, Head of Research, Asia of ING Financial Markets, says November's rate cut will soon begin to bear fruit for mortgage lending.

  • SHANGHAI, Jan 19- China's banking regulator has issued draft rules to tighten supervision of entrusted loans, a kind of shadow banking product, in a move seen targeting excessive leverage used to speculate on stocks. "The impact of industry overcapacity, local government debt, shadow bank and property risk on the capital markets is not negligible," China...

  • US regulators close small Florida bank Friday, 16 Jan 2015 | 6:53 PM ET

    The Federal Deposit Insurance Corp. said Friday that it has taken over First National Bank of Crestview, in Crestview, Florida. First NBC Bank, based in New Orleans, agreed to assume all of First National Bank of Crestview's deposits and to buy about $62 million of the failed bank's assets. The failure of First National Bank of Crestview is expected to cost the...

  • NEW YORK, Jan 16- Exchange operator BATS Global Markets is in discussions to buy institutional foreign exchange trading platform Hotspot from KCG Holdings Inc for nearly $400 million, three sources close to the situation said on Friday. The $5 trillion- a-day foreign exchange market has been the focus of a probe by regulators in Britain following allegations...

  • Jan 16- Two online payday lending companies linked to a professional racecar driver have agreed to pay a record $21 million to resolve charges by U.S. regulators that they engaged in deceptive practices, the Federal Trade Commission said on Friday. The settlement with Kansas- based AMG Services Inc, which serviced the loans, and MNE Services Inc, which lent to...

  • WASHINGTON, Jan 14- Fannie Mae and Freddie Mac's regulator hinted on Wednesday that credit standards could be eased when it laid out the 2015 goals for U.S. mortgage companies. It also called on Fannie Mae and Freddie Mac to provide clarity on what is expected from mortgage loan servicers and to "enhance eligibility standards." Under Watt's leadership, the FHFA...

  • JOHANNESBURG, Jan 14- South Africa's credit regulator has referred small lender Ubank to a consumer tribunal, recommending it should be fined for reckless lending and forced to change its business practices. The move comes just months after another South African bank, African Bank Investments, had to be rescued by the central bank following reckless lending...

  • JOHANNESBURG, Jan 14- South Africa's credit regulator has referred small lender Ubank to a consumer tribunal, recommending it should be fined for reckless lending and forced to change its business practices. The move comes just months after another South African bank, African Bank Investments, had to be rescued by the central bank following reckless lending...

  • Jan 13- California is seeking to suspend Ocwen Financial Corp's license to operate in the state, saying the mortgage collection company failed to submit papers showing that it complies with laws, state regulators said. California's Department of Business Oversight, which licenses non-bank mortgage lenders and servicers, said it started asking Ocwen for...

  • WASHINGTON, Jan 12- The U.S. Supreme Court on Monday declined to hear an appeal filed by several banks objecting to a lawsuit filed by a federal regulatory agency over their alleged role in selling mortgage-backed securities to now-failed credit unions. The litigation against the lenders, including units of Royal Bank of Scotland PLC and Wells Fargo& Co, can now...

  • Cyprus: Out of the danger zone?  Monday, 12 Jan 2015 | 4:50 AM ET

    Panicos Demetriades, former Cyprus central bank governor and professor of financial economics at the University of Leicester, discusses the country's economy and its reform plans, ahead of the first ECB meeting of 2015.

  • Nasdaq eyes running dark pools for banks - WSJ Monday, 12 Jan 2015 | 12:15 AM ET

    Jan 12- Nasdaq OMX Group has approached several big banks with a proposal to take over the operation of their so called "dark pools," and plans to seek regulatory permission to do so, the Wall Street Journal reported, citing Nasdaq Chief Executive Robert Greifeld. Last month, Citigroup Inc said it would shut down its alternative stock trading venue LavaFlow, at a time...

  • Here's the key to global growth: Treasury official Wednesday, 7 Jan 2015 | 1:01 PM ET

    As the global coalition for growth expands, it's important that each new addition adds value and has a clearly defined role, says this Treasury official.

  • Jan 6- Sales of so-called "smart beta" funds, the fastest-growing segment of the exchange-traded fund market, are among the issues Wall Street's private watchdog will review in its 2015 examinations of U.S. brokerages, the regulator said on Tuesday. The Financial Industry Regulatory Authority is concerned about how market swings affect indices tied to the...

  • Dec 29- Japan's financial regulator has begun stress tests on regional banks to determine how much their earnings would suffer if long-term interest rates remain near record lows under the Bank of Japan's loose money policy, according to two people with direct knowledge of the process. Regional lenders have typically extended loans to smaller businesses,...

  • NEW YORK, Dec 23- In December 2013, Hanmag Securities Corp, a small South Korean brokerage firm, lost 46 billion won in a day after a stock option trading algorithm went bad. It was a fatal blow for a company that had just 15 billion won of capital- Hanmag went bust. During the financial crisis, regulators were reluctant to let wobbly traders such as Bear Stearns go bust,...