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Inside Washington (06/16/2010)
* WASHINGTON (6/17/10)--Sen. Susan Collins (R-Maine) said Tuesday that she is working to revise her regulatory reform bill provision--which would eliminate the use of trust-preferred securities as Tier 1 capital--to include a five-year phase-in for certain financial institutions. She also said she is investigating whether smaller institutions with less than $5 billion in assets should be treated differently under the provision. Collins’ measure was not intended to prevent federal funds from counting toward Tier 1 capital, she said in an interview with American Banker (June 16) ... * WASHINGTON (6/17/10)--In an unexpected move, lawmakers added language to regulatory reform legislation that would overhaul the deposit insurance system. The changes would set the deposit insurance limit at $250,000 indefinitely, and extend a program that would give unlimited guarantees for certain accounts and the Federal Deposit Insurance Corp. more leeway to set premiums (American Banker June 16). House and Senate conferees Tuesday agreed to keep the $250,000 limit permanent and retroactive to cover 2008 failures. The limit was increased to $250,000 from $100,000 in October 2008, and was set to return to $100,000 after 2013. (See related story: “Reforms may add NCUA to oversight council, cement NCUSIF level”) ... * WASHINGTON (6/17/10)--The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac, who are operating in conservatorship, to delist their common and preferred stock from the New York Stock Exchange and any other national securities exchange. After the delisting, the stock is expected to be quoted on the Over-the-Counter Bulletin Board. The direction does not indicate any reflection on either entity’s performance. It is related to stock and exchange requirements for maintaining price levels and curing deficiencies, said FHFA Acting Director Edward DeMarco. Each enterprise’s common stock price has been at about $1 over 30 trading days for most months since the conservatorships became effective in September 2008 ...

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