The US Federal Reserve Bank will start backing primary securities dealers as well as banks through its discount in another attempt to stave off a general financial collapse, it announced yesterday.
The Federal Reserve, the European Central Bank (ECB) and the central banks of the UK, Canada and Switzerland have agreed upon a series of auctions to provide billions for credit-starved financial institutions.
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Investors in structured credit assets, such as collateralised debt obligations, recently “realised they were much less informed than they originally thought”, according to US Federal Reserve governor Randall Kroszner.
Six US regulatory agencies have called for more loss-mitigation strategies to prevent homeowner defaults on mortgages. In a joint statement released yesterday they said that all regulated financial institutions that service mortgage loans should take...
An increase in the premiums investors require to take risk is probably a healthy development, said US Federal Reserve chairman Ben Bernanke.
Spread widening in corporate credit and leveraged debt has been wrongly attributed to the fallout from the US subprime mortgage market, according to Baring Asset Management.
There is evidence to support the claim that the subprime mortgage crisis in the US may have had its roots in operational risk problems. But just what caused the crisis, and could it have been averted if the firms involved had robust op risk frameworks...
Regulators must keep up with intermediaries: Fed board governor
Fed discusses subprime market
Fed discusses new risk in financial systems
Fed: Credit derivatives have been boon, liquidity events pose risk
Fed chairman discusses role of regulators in credit derivatives
Susan Schmidt Bies has resigned as a member of the Board of Governors of the Federal Reserve System
Chairman Ben Bernanke explains the functions of the Board and upcoming challenges
US takes its next step towards Basel implementation
Speaking at the Institute for International Bankers Seminar the Governor sought to highlight recent US Basel II compliance developments
The International Swaps and Derivatives Assocation (Isda) has said it “applauds and supports” a letter from 17 investment banks to Timothy Geithner, president of the Federal Reserve Bank of New York, which commits them to improving the efficiency...
Complaints are reaching me about the way in which the US regulators have released the notice of proposed rulemaking (NPR). My sources point out that the advance notice of proposed rulemaking – released way back in those halcyon days of August 2003 –...
BaselAlert has gathered a series of letters to the Fed and notes from the meetings between the Fed and industry regarding the Notice of Proposed Rulemaking for Basel II in the US.