Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (11/30/2009)
* WASHINGTON (12/1/09)--The Federal Reserve Board has revised its policy governing eligibility, qualifications, and rotations for directors of Federal Reserve Banks and their branches. The revisions address situations where affiliations and stockholdings that were previously permissible may become impermissible for Class B and C directors. The revised policy provides that if a Class B or C director is affiliated with a company that becomes a financial affiliation company during his or her term, the director must resign from the impermissible affiliation company or resign from the bank board within 60 days of learning of the prohibited affiliation. The policy also addresses Class C directors’ indirect holdings in financial stock issuers and the eligibility rules that apply to directors of Reserve Bank branches ... * WASHINGTON (12/1/09)--While Federal Reserve Board Chairman Ben Bernanke is expected to be confirmed Thursday by the Senate to continue in his role as head of the central bank, financial observers said Bernanke may face some of the toughest questions of any Fed chairman at a confirmation hearing (American Banker Nov. 30). Bernanke likely will be questioned on the Fed’s bank supervision responsibilities, liquidity programs, and bailouts of firms such as American International Group. Mark Calabria, Cato Institute director of financial regulation studies, said the votes against Bernanke may reach “double digits.” People will be upset about the bailouts, the Bank of America deal with Merrill Lynch, and how the Fed can regulate institutions “at arm’s length,” he said ...


RSS print
News Now LiveWire
Matz: We don't want to make it more difficult for you to do business but want you to do business safely 2of2 #listeningsession
8 minutes ago
Matz responds:GAO is pushing us; we are going forward; but whether we include concentration/IRR risk we are going to take another look.1of2
9 minutes ago
CU warns NCUA must look at concentration risk on individual basis:UR creating concentration risk;UR pushing us into old ways of doing biz.
11 minutes ago
To CU concerns Fazio assures: U will see more risk wt. analytics with the final RBC rule. #listeningsession
17 minutes ago
Fazio: The more robust the RBC system the less likely examiners will want to see more capital #listeningsession
20 minutes ago