Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (06/02/2009)
* WASHINGTON (6/3/09)--A long-term debate about what should be done with Fannie Mae and Freddie Mac will likely resurface during a House Financial Services Committee capital markets subcommittee hearing scheduled for today with group members expected to consider whether to privatize or nationalize the enterprises. The government is currently using the enterprises to put liquidity back into the mortgage markets to stem the housing crisis (American Banker June 2). The debate could be partisan, as many Republicans want the two to be included in regulatory overhaul of the financial system. However, Democrats traditionally have opposed privatization and perceive Fannie and Freddie as vital to promoting affordable housing. Rep. Paul Kanjorski (D-Pa.) also said that lawmakers would look at extending the Treasury’s ability to purchase debt from the Fannie, Freddie or securities. The Treasury’s purchasing power will expire at the end of the year. Regardless of the direction lawmakers take, financial industry observers expect they will try not to disrupt the markets ... * WASHINGTON (6/3/09)--Just as the Federal Reserve Board Monday released payback criteria for financial institutions that received Troubled Asset Relief Program (TARP) money, several banks have said they plan to exit TARP soon. JPMorgan Chase and Co., which was not required to raise additional money after undergoing stress tests this spring, plans to raise $5 billion in capital to help repay $25 billion it received from the government last year (American Banker June 2). Banks that repay TARP must show they can issue debt not guaranteed by the Federal Deposit Insurance Corp. and that they can access public equity markets. JPMorgan said it has been able to pay back the funds for a long time without accessing public markets ...


RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago