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Archive for March, 2012

Testimony of the the Fed on regulatory reform

Testimony by Mr Daniel K Tarullo, Member of the Board of Governors of the Federal Reserve System, before the Committee on Banking, Housing, and Urban Affairs, US Senate, Washington DC, 22 March 2012. Chairman Johnson, Ranking Member Shelby, and other members of the Committee, thank you for the opportunity to testify on implementation of the [...]

A Long Road to Regulating Derivatives

If there is one lesson from the financial crisis that should be indelible, it is that unregulated derivatives are prone to catastrophic failure. And yet, nearly four years after the crash, and nearly two years since the passage of the Dodd-Frank law, the multitrillion-dollar derivatives market is still dominated by a handful of big banks, [...]

QE is ‘decisively working’ say CBP panellists

At the first Central Banking On Air event of 2012 , there was broad agreement among the panel that quantitative easing (QE) is achieving its stated aims. There was divergence of opinions on what the broader priorities for central banks should be in the medium term, however. The panel comprised Andrew Smithers, chairman and founder [...]

Barriers to Change in the Financial Sector

Fair Game: Barriers to Change, From Wall Street and Geneva. By GRETCHEN MORGENSON Even now, after all we’ve been through, something is still wrong with Wall Street. That’s the takeaway from the extraordinary — and extraordinarily public — resignation of Greg Smith from Goldman Sachs last week. His criticism of Goldman, made in an Op-Ed [...]

BoE: A common financial language?

Towards a common financial language. Speech by Bank of England’s Andrew Haldane. In a speech drawn from a paper presented at the Securities Industry and Financial Markets Association’s (SIFMA) Legal Entity Identifier Symposium in New York, Andrew Haldane – Executive Director for Financial Stability and member of the Financial Policy Committee – considers the benefits [...]

Fed stress test results

The Federal Reserve on Tuesday announced summary results of the latest round of bank stress tests, which show that the majority of the largest U.S. banks would continue to meet supervisory expectations for capital adequacy despite large projected losses in an extremely adverse hypothetical economic scenario. The Federal Reserve in the Comprehensive Capital Analysis and [...]

Fed Stress Tests

Latest Stress Tests Are Expected to Show Progress at Most Banks. In another milestone in the banking industry’s recovery from the financial crisis, the Federal Reserve this week will release the results of its latest stress tests, which are expected to show broadly improved balance sheets at most institutions. The findings would be the latest [...]

The Economist Debate: High-frequency trading

This house believes that high-frequency trading contributes to the overall quality of markets.   Representing the sides Defending the motion Jim Overdahl: Vice-president, Securities and Finance Practice, National Economic Research Associates Opening: High-frequency trading has improved the overall quality of markets. Trading costs are lower, markets are deeper and more liquid, discrepancies in prices across [...]

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