Federal Deposit Insurance Corporation (FDIC)
Paulson: buying MBSs no longer Tarp priority
Treasury secretary Hank Paulson closed the door to systematic US government purchases of illiquid mortgage-backed securities under its $700 billion Troubled Asset Relief Programme (Tarp), during a briefing in Washington, DC today.
The search for a deposit base
The fallout from the default of Lehman Brothers continues spread across the structured products industry, as arrangers seek to reassure nervous high-net-worth clients that their investments are safe. Michael Marray reports
Auction sets 57% recovery on Washington Mutual CDS
An auction yesterday established a final settlement price of 57% for Washington Mutual bonds, leaving sellers of credit default swaps (CDS) with higher-than-expected settlement payments as they close out contracts referencing the former US bank.
Weathering the storm
Lehman Brothers' collapse has potentially ruinous consequences for the US structured products market. But delegates and speakers at the Structured Products West Coast Conference were surprisingly upbeat about the future and opportunities that have arisen…
WaMu collapses, assets bought by JP Morgan
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FDIC issues liquidity guidance and encourages contingency funding
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Meagre $5bn profit for US commercial banks, says FDIC
Federally insured US banks posted total profits of just $5 billion for the second quarter of 2008, an 87% drop on the $31.8 billion earned over the same period in 2007 and the second-worst earnings results since 1991.
FDIC and FSA sign MOU on information exchange
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FDIC issues guidance on third-party risk
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Online banking attacks rise
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FDIC chairman Bair’s warning on Basel II models
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Market reacts to US Treasury subprime plan
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FDIC approves Basel II
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US regulators encourage loss-mitigation strategies
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…
Standardised approach in US depends on credit risk ruling
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Harvesting loss data
Although often the core of Basel II models, loss event data is usually less robust than op risk executives would like. Peter Madigan explores the challenges around collection, clearing and enrichment
Concern continues over Basel II in US
US Congressmen have questioned the effectiveness of Basel II risk modelling, and complained that it puts US banks at a disadvantage.
Just in: NPR published
US regulators are seeking comments for Basel II.
Basel II under hostile fire at FDIC conference
Basel II may be imperfect, expensive and a burden, but is the only solution available to the financial institutions, according to a number of speakers at the conference.
State bank supervisors had demanded the standardised approach
The standardised approach was being requested by industry and state regulators long before four of the biggest banks went to Congress requesting its inclusion in the NPR.
NPR updated to include the standardised approach
After pressure from the industry, the standardised approach has now been included in the NPR.
FDIC to seek comments for standardised approach
The FDIC has bowed to industry pressure to include the standardised approach in the NPR, despite the Fed’s insistence that AMA is vital to safeguarding the financial system.
FDIC board meeting on Basel II scheduled for September 5
The Federal Deposit Insurance Corporation has confirmed that it will hold a board meeting to discuss implementing Basel II on September 5. The board is expected to approve the draft notice of proposed rulemaking (NPR) at the meeting, ahead of the…