Federal Reserve
Obama administration favours a single banking regulator
Daily news headlines
Why the regional Federal Reserve banks are up in arms
A number of presidents of regional Federal Reserve banks and senior staff have recently expressed dissent from the official line taken by the US authorities in managing the banking crisis.
Geithner calls for law change to force OTC derivatives clearing
The US Treasury called upon Congress yesterday to amend the Commodities Exchange Act (CEA) to compel the "clearing of all standardised over-the-counter derivatives through regulated central counterparties".
US banks require $74.6 billion in additional capital, stress tests reveal
Ten US banks collectively require an additional $74.6 billion in additional capital to insulate against possible losses over the next two years, the results of US government stress tests show.
Stephen Friedman relinquishes post at New York Fed
Stephen Friedman, chairman of the board of directors at the Federal Reserve Bank of New York, resigned his post on May 7, following controversy over his decision to remain on the board of directors at Goldman Sachs.
Lessons learned
OpRisk USA
Fed divulges process behind bank stress tests
The US Federal Reserve has released details of the methodology behind its Supervisory Capital Assessment Programme (SCAP), the recently concluded stress tests conducted by regulators to ascertain whether additional capital replenishment is needed at the…
New York Fed and Bernanke release TALF Responses
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Talf requests plunge $3bn to $1.7bn in latest funding round
Demand for loans under the US Treasury's Term Asset-Backed Securities Loan Facility (Talf) has dropped precipitously since the scheme opened in March.
Fed in $287bn currency swap with central banks
Four central banks, including the European Central Bank (ECB) and the Bank of England (BoE), have agreed further reciprocal foreign currency swap arrangements with the Federal Reserve to provide more US dollar funds to firms in participating nations as…
Geithner: US will "force all standardised OTC derivatives into central clearing"
The US Treasury will seek to fully regulate over-the-counter derivatives, secure the registration of large hedge funds with federal authorities and push ahead with plans to create a new systemic super regulator, Treasury secretary Timothy Geithner has…
US Fed and Treasury clarify financial stability responsibilities
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Geithner to announce illiquid asset repurchase programme
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Fed increases security purchase plans
In an effort to resuscitate private credit markets, the Federal Open Markets Committee stated today that it would purchase up to $300 billion in long-term US Treasury securities over the next six months.
Fed delays capital requirements rules for bank holding companies
The Federal Reserve has postponed new capital requirements ratios for bank holding companies for two years, in an effort to allow banks to boost capital levels amid continued weakness in the financial markets.
Fed approval leaves Ice/TCC on brink of CDS clearing
Intercontinental Exchange's (Ice) application to become a member of the Federal Reserve System has been approved by the US central bank, overcoming one of the final obstacles preventing the firm from launching its central clearing platform for credit…
Treasury launches Talf, drops compensation caps
The US Treasury and Federal Reserve Bank of New York launched the Term Asset-Backed Securities Loan Facility (Talf) yesterday, but opted to remove restrictions on executive remuneration for participating institutions.
US Congress tackles risk reform
Regulatory News
Federal Reserve extends liquidity programmes
The Federal Reserve has extended the deadline for its existing liquidity programmes by six months, to October 30, in a sign of continuing strain on financial markets.
FOMC holds rates as spectre of quantitative easing looms
The Federal Open Market Committee (FOMC) has kept its target for US interest rates at between 0-25 basis points as the Federal Reserve reiterated its commitment to use new tools to fight the worsening economic downturn.
US props up Bank of America
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GAO report calls for US regulatory reformation
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Fed offers $150 billion to banks via TAF
The Federal Reserve announced it would offer $150 billion in 28-day discount-rate loans via its term auction facility (TAF) today; the auction will settle on January 15.