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Washington
Inside Washington (07/20/2010)
* WASHINGTON (7/21/10)--Witnesses have been named for a Senate Banking Committee hearing that was scheduled for Tuesday by its security, international trade and finance subcommittee on international cooperation in modernizing financial regulation. Witnesses include Federal Reserve Board Gov. Daniel Tarullo; Lael Brainard, Treasury undersecretary for international affairs; and Kathleen Casey, Securities and Exchange commissioner (American Banker July 20). Fed Reserve Board Chairman Ben Bernanke also is scheduled to appear today before the Senate Banking Committee to provide an update on monetary policy and economic performance ... * WASHINGTON (7/21/10)--Different agencies have different challenges, which have different kinds of responses, according to Comptroller of the Currency John Dugan. As “an exclusive supervisor-focused regulator on the commercial banks, we provided the kind of vocal leadership that we should have,” he told American Banker (July 20). Dugan, who will step down from his role Aug. 14 after a five-year term, reflected on his tenure at the Office of the Comptroller of the Currency (OCC). Dugan, often seen by some as a quiet, “behind-the-scenes operator,” the Banker said, noted that the OCC spoke its mind when it needed to. The agency was up front on nontraditional mortgages and commercial real estate guidance. It also was “outspoken” on several issues, he added ... * WASHINGTON (7/21/10)--The Federal Reserve Board Tuesday agreed Treasury that it was appropriate for the Treasury to reduce to $4.3 billion from $20 billion the credit protection provided for the Term Asset-Backed Securities Loan Facility (TALF) under the Troubled Asset Relief Program. The board authorized up to $200 billion in TALF loans, but when the program closed on June 30, there were $43 billion in loans outstanding. TALF was designed to increase credit availability and support economic activity, the Fed said ...


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