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Inside Washington (06/27/2012)
  • WASHINGTON (6/28/12)--A group of bankers' banks are urging prompt extension of full Federal Deposit Insurance Corp. (FDIC) coverage for nearly $1.3 trillion in small-business deposits, according to the Independent Community Bankers of America. Bankers' banks are financial institutions that serve community banks. They are owned by investor banks and may provide services only to community banks. In a letter to congressional leaders, 15 bankers' banks that serve more than 5,000 community banks said extending the FDIC's transaction account guarantee (TAG) insurance beyond its Dec. 31 expiration date is necessary to preserving community bank liquidity and small-business lending capacity. "In the current challenging economic environment, an abrupt contraction in liquidity would pose an unacceptable risk to credit availability and the economic recovery," the bankers' banks wrote. "We ask that the Congress extend the FDIC TAG program at the earliest possible opportunity. Banks fully pay for this FDIC insurance coverage through their insurance premiums and no taxpayer money is used" …
  • WASHINGTON (6/28/12)--The Basel Committee on Banking Supervision has published a set of disclosure requirements on the composition of banks' capital. The requirements are designed to improve the quality of the disclosures detailing how institutions are complying with Basel III. The requirements are set out in five sections: 1) a breakdown of regulatory capital until Jan. 1, 2018, when the transition period for the phasing-in of deductions ends; 2) reconciliation requirements; 3) a description of capital instruments used; 4) disclosure requirements; and 5) a disclosure of capital components that are benefiting from the transitional arrangements …
  • WASHINGTON (6/28/12)--Federal Reserve Chairman Ben S. Bernanke will host a town hall meeting with educators nationwide at 2:30 p.m. ET on Aug 7. The educators will join the Bernanke in Washington, D.C., and will gather in Federal Reserve Bank offices throughout the country to participate via videoconference. Bernanke will give brief remarks about the importance of personal financial education and then respond to questions from both in-person and videoconference participants. Bernanke hosted a similar town hall in September 2010. The event will be webcast live

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