Federal Deposit Insurance Corporation (FDIC)
Regulatory turf war hits Congress
A battle for influence among US financial regulators broke out in Congress on July 24, as they testified before a Congressional committee on the merits of the Obama administration's proposals for regulatory reform.
Citi in secret FDIC deal over governance problems
Daily news headlines
US PPIP toxic securities scheme launches, fund managers named
The US Treasury's scheme to purchase toxic mortgage-backed securities was officially launched yesterday with the unveiling of the asset managers charged with investing public funds, while officials sought to quell claims the scheme has been dramatically…
Agencies aim to unite US with Basel liquidity risk standards
US regulatory authorities yesterday released proposed guidance on contingent funding and liquidity risk in a bid to bring US financial institutions into alignment with international liquidity standards.
The Bair necessities
Federal Deposit Insurance Corporation chairman Sheila Bair has argued that systemically important financial institutions should hold more capital as a disincentive to growth, while a new entity should be set up to manage the orderly resolution of…
Obama reform plans show no progress on OTC derivatives clearing
The Obama administration's much-hyped regulatory reform proposals disappointed over-the-counter derivatives dealers and end users yesterday by again failing to provide new details on how OTC markets with mandatory central clearing would operate.
Toxic loan PPIP purchases postponed, feared dead
The purchase of distressed whole loans using taxpayer funds under the US Treasury's Public-Private Investment Program (PPIP) has been postponed, the Federal Deposit Insurance Corporation (FDIC) has announced, raising speculation that the scheme might be…
Obama administration favours a single banking regulator
Daily news headlines
PPIP banks may be able to buy rivals' toxic assets
The US Treasury's behind-schedule Public-Private Investment Program (PPIP) could face difficulty in attracting banks to participate in the scheme, while policymakers are considering whether to allow banks to buy each other's assets.
FDIC taps insured banks for funds as reserves dwindle
The Federal Deposit Insurance Corporation (FDIC) is to levy an additional five-basis-point special assessment charge on depository institutions at the end of the third quarter to boost its fast-dwindling deposit insurance fund (DIF).
Stress-test success masks bigger problem with banks
The US government's bank stress tests appear to have been successful in stabilising financial markets, but some market observers believe they are obscuring broader systemic problems and could hamper efforts to deal with toxic assets.
Bair: US should pull back from Basel II
The US should back away from the "highly problematic" Basel II framework and instead turn its attention to fine-tuning the current Basel I Accord, Federal Deposit Insurance Corporation (FDIC) chairman Sheila Bair said yesterday.
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…
IndyMac losses put more strain on FDIC funds
Yesterday's sale of failed California mortgage lender IndyMac has left the US Federal Deposit Insurance Corporation (FDIC) with a $10.7 billion bill - weakening its reserves further even as the list of failed banks requiring support continues to lengthen.
FDIC: 252 US banks now at risk
The US Federal Deposit Insurance Corporation (FDIC) now has 252 banks on its "problem list", and the industry has dipped into the red for the first time in almost two decades.
US props up Bank of America
Daily news headlines
Banks tighten conditions on revolving credit extensions
More stringent terms and conditions are being attached to revolving credit facilities (RCFs), although banks are still extending them to investment-grade corporates. Analysts and bankers agree that RCFs are becoming more expensive and smaller and will…
Coping with collapse
The demise of Lehman Brothers spelled potential disaster for the US market. Reverse convertibles have sunk on the back of falling equity markets, fear of structured products is spreading like wildfire in the wake of negative media coverage, and a hoped…
FDIC Announces $114 million Compucredit Settlement
Losses and Lawsuits
Mark-to-market accounting 'a major cause' of the crisis
Corporate Governance
FDIC reports rise in problem banks
There are now 171 banks on the US Federal Deposit Insurance Corporation (FDIC)'s 'problem list', the largest number since 1995, the FDIC revealed yesterday.