Senate Committee on Banking, Housing and Urban Affairs
Senate bill will not hurt big bank oversight – Powell
Fed chair says raising of Sifi threshold will not affect application of enhanced standards
Bank physical commodity trading attacked in US Senate hearing
Physical trading by banks said to inflate commodity prices, increase systemic risk and threaten shortage of beer cans
Basel III blues: US politicians push for new QIS
Basel III is losing traction. Already hit by implementation delays and a loss of support from senior policy-makers, some US politicians are now calling for a national impact study – mirroring developments that saw Basel II grind to a halt. Michael Watt…
JP Morgan loss highlights lack of risk experts on bank committees
A committed committee?
Fallout from JP Morgan loss will hit energy markets: IEA
JP Morgan’s recent $2 billion trading loss could toughen a trio of Dodd-Frank Act rules, potentially hurting energy markets, the International Energy Agency says
US senator calls for VAR overhaul
Speaking to Risk after JP Morgan boss testifies on $2 billion loss, US Senate banking committee member Kay Hagan says risk modelling and reporting need overhaul
JP Morgan loss was bungled attempt to cut Basel III RWAs, says Dimon
Loss-making unit's RWAs would have tripled under Basel III, JP Morgan chief executive says - but attempting to cut capital burden made its hedges more complex
iShares says ETFs backed by derivatives should be renamed
Call for new labels as Jack Reed, senator for Rhode Island, notes that ETFs have been labelled the "new weapons of mass destruction"
Tim Johnson new chair of Senate Banking Committee
South Dakota senator Tim Johnson appointed head of key Senate committee tasked with overseeing the implementation of the Dodd-Frank Act.
US federal regulators endorse "appropriate" Basel III
Bair says evidence supported even higher capital requirements under revised Accord
The swaps carve-out conundrum
Section 716 of the Dodd-Frank Act will force swap dealers to hive off certain derivatives businesses into separate affiliates. But the legislation is fiendishly complicated, riddled with oversights and requires daring interpretative leaps, which has left…
Dodd-Frank margin intent delivers end-users a blow, despite reprieve
Senator's letter fails to assuage end-user concerns over non-cleared swaps
Financial reform to be decided in US
US financial reform edges closer as legislators prepare for the reconcilation of the House and Seante bills
Harbouring doubts on close-out netting
Derivatives safe harbours are viewed as crucial to close-out netting. However, they are under siege from the US Congress, where legislators have tried to undo the protections given to market participants when a counterparty defaults. Mark Pengelly reports
Isda AGM: Reform bill misgivings aired
A speaker from BAML calls for delays to US financial reform proposals.
Senate Ag committee to take OTC derivatives transparency to new levels
New draft legislation on financial regulatory reform will require real-time reporting of derivatives trades to both regulators and the public, according to Blanche Lincoln, chairman of the Senate Committee on Agriculture, Nutrition and Forestry, who is…
OTC reforms built to last?
Reform of derivatives markets is gathering pace in the US ahead of a crucial debate in the House of Representatives. But questions remain over exemptions for corporate hedgers and foreign exchange swaps and forwards, meaning the final architecture of the…
