Key Headlines…

Key Headlines…

Bernanke Don’t tie debt limit to spending cuts
Politico
By JENNIFER EPSTEIN | 6/15/11 7:10 AM EDT Federal Reserve Chairman Ben Bernanke on Tuesday again urged congressional Republicans to support an increase in the debt ceiling ahead of the early August deadline set by Treasury Sec.

No Fed Shift Seen at June Gathering
Wall Street Journal
By JON HILSENRATH And LUCA DI LEO When Federal Reserve officials met in April, they spent a long time strategizing how to exit from the central bank’s easy-money policies. As they prepare for their next gathering, amid a pronounced economic slowdown,

Banks get new mandate on capital
Boston Globe
The Office of the Comptroller of the Currency and the Federal Reserve announced their approval jointly. The rule “implements the Collins amendment, which in my view is the single most important provision of the Dodd-Frank Act for strengthening the

Fed Officials Discuss Explicit Inflation Target
Bloomberg
June 10 (Bloomberg) — Former Federal Reserve Bank of Richmond President Alfred Broaddus talks about Fed monetary policy, the economy and the US budget. He speaks with Carol Massar and Adam Johnson on Bloomberg Television’s “Street Smart.


Ahead of the Bell: Industrial Production
ABC News
The Federal Reserve will release the report at 9:15 am on Wednesday. Overall industrial production has risen nearly 11.5 percent since hitting its recession-low in June 2009. It remains about 7.5 percent below its pre-recession peak reached in

Majority of Forex Pros Do Not Anticipate QE3
Benzinga
The Federal Reserve is set to complete its second round of asset purchases this month. The $600 billion dollar program has pushed the Fed’s balance sheet to $2.79 trillion. Recent rhetoric from the Fed has indicated that there will be no QE3,

Senate site hacked, Federal Reserve could be next
GCN.com
By Kathleen Hickey The hacker group Lulz Security has claimed responsibility for breaking into the US Senate’s website over the weekend, while Anonymous, another hacker group, is threatening to hack the Federal Reserve June 15.

AGs, banks make ‘major progress’ on servicing standards
Housing Wire
Federal agencies and the 50 state AGs launched investigations. In April, the Office of the Comptroller of the Currency, along with the Federal Reserve and the Office of Thrift Supervision, signed consent orders with 14 major mortgage servicers.

TREASURIES-Yields jump with higher stocks, technical support
Reuters
The cost of insuring US debt for one year with credit default swaps rose to the highest in over two years as Federal Reserve Chairman Ben Bernanke and President Barack Obama warned of the economic consequences of a failure to lift the government’s

SEC Nominees, FDIC Capital Rule, CFTC Swaps, Broker-Dealers: Compliance
Bloomberg
The Federal Deposit Insurance Corp. board yesterday approved a final rule barring the nation’s largest lenders from reducing their capital levels below baselines set for smaller banks as part of a joint rulemaking under the Dodd-Frank Act. FDIC board

FDIC, GOP lawmakers spar over ‘too big to fail’
MarketWatch
General Counsel Michael Krimminger defended a provision in the statute that seeks to end ”too big to fail” by giving the FDIC the power to dismantle a failing financial institution in a way that does not cause collateral damage to the markets.


FDIC passes capital floor requirement
GFS News
The measure was introduced as an amendment to the Dodd Frank Act by senator Susan Collins in 2010, and was approved by 5-0 in an FDIC vote on Tuesday. But FDIC officials said it would not see banks having to raise additional capital because of the



FDIC OKs minimum capital standard for banks
MarketWatch
This rule, which has been pushed for by outgoing FDIC Chairman Sheila Bair, eliminates that ability by large financial institutions. However, new capital requirements based on a global agreement known as Basel III will require higher capital levels and

Extreme Bank Regulation Is The Key To This Lousy Economy
Business Insider
He has written repeatedly that Sheila Bair, Chairman of the FDIC, who famously claimed that “…a higher regulatory capital requirement for banks won’t hold back lending…,” Bernanke et al have made a hash of financial oversight. He chides regulators