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LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
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Washington
Inside Washington (11/21/2008)
* WASHINGTON (11/24/08)--The Federal Deposit Insurance Corp. (FDIC) Thursday provided mortgage servicers and investors with a toolkit that outlines FDIC program terms at IndyMac, offers insight into characteristics that drive modification modeling at the bank, and provides a framework for implementing similar programs ... * WASHINGTON (11/24/08)--Lawmakers criticized regulators at a House Agriculture Committee hearing Thursday for allowing a turf war to slow efforts on creating better oversight of credit-default swaps (CDS). The creation of two CDS clearing houses is dragging because of reviews by the Securities and Exchange Commission (SEC), the Federal Reserve Board and the Commodities Future Trading Commission, witnesses said (American Banker Nov. 21). Also, the New York State Insurance Department announced Thursday that it would stop plans to regulate certain types of CDS contracts by Jan. 1. Lawmakers at the hearing said they were frustrated that the clearing houses have not been set up and asked what was taking so long. Erik Sirri, director of the SEC’s trading and markets division, said the agency is planning to finish its review of exemption requests by mid-December ... * WASHINGTON (11/24/08)--The Basel Committee on Banking Supervision announced Thursday a comprehensive strategy to address weaknesses in the financial market. The strategy has eight building blocks: strengthening the risk capture of the Basel II framework; enhancing the quality of Tier 1 capital; building additional shock absorbers into the capital framework that can be drawn upon during periods of stress and dampen procyclicality; evaluating the need to supplement risk-based measures with simple gross measures of exposure in both prudential and risk management frameworks to help contain leverage in the banking system; strengthening supervisory frameworks to assess funding liquidity at cross-border banks; leveraging Basel II to strengthen risk management and governance practices at banks; strengthening counterparty credit risk capital, risk management and disclosure at banks; and promoting globally coordinated supervisory follow-up exercises to ensure implementation of supervisory and industry sound principles ...


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CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
7 hours ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
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Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
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