Wednesday, November 23, 2011

Draft Volcker Rule Prompts Buyers' Remorse

Author: David Schwartz J.D. CPA

In a strongly worded letter to Federal Reserve Chair Ben Bernanke, Rep. Maurice Hinchey (D-NY), Rep. Peter Welch (D-VT), and 15 other House members urged the Fed and other federal regulators to reject the current draft of the Volcker Rule regulations and replace them with stronger language to prohibit commercial banks from engaging in investment activities.  

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Tuesday, November 22, 2011

Basel Committee Issues FAQ on Counterparty Credit Risk Rules

Author: David Schwartz J.D. CPA
The Basel Committee on Banking Supervision has issued a Frequently Asked Questions document providing technical elaboration on its counterparty credit risk rules, published in June. This FAQ document questions and technical interpretations grouped according to the relevant paragraphs of the rules, in particular, default counterparty credit risk charge, and the credit valuation adjustment (CVA) capital charge, and asset value correlations.
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Saturday, November 19, 2011

ISS Issues Policy Updates for the 2012 Proxy Season

Author: David Schwartz J.D. CPA
Institutional Shareholder Services Inc. (ISS) has published the 2012 updates to its US and international corporate governance policies. These guidelines are applicable to shareholder meetings held on or after February 1, 2012.  Given the attention regulators and legislators have taken in corporate governance issues as of late, the new ISS guidelines for US companies include changes in several important areas.
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Friday, November 11, 2011

Congress Introduces Bill Expanding Funding Options for US Financial Institutions

Author: David Schwartz J.D. CPA
On November 9, 2011, Senators Kay R. Hagan (D-NC) and Bob Corker (R-TN) introduced a bill that would provide a legislative framework for establishing a US covered bond market.  The bill has the potential to enhance liquidity and provide to US banks a new source of stable, long-term financing to financial institutions and others derived from private capital markets. 
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Wednesday, November 9, 2011

Proposed UK Financial Services Bill Would Radically Change UK Regulatory Structure

Author: David Schwartz J.D. CPA
The UK's Chancellor of the Exchequer has proposed a radical reformulation of financial services regulation, ending the shared oversight of the Treasury, Financial Services Authority, and the Bank of England.  The proposed new structure would unify regulation and supervision under new structures housed in the Bank of England.  This move to centralize oversight could give EU oversight entities, the European Systemic Risk Council and the European System of Financial Supervisors, greater influence in UK financial oversight.  
  
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