Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Inside Washington (12/01/2011)
  • WASHINGTON (12/2/11)--The House Financial Services Committee on Wednesday passed three bills Wednesday related to the derivatives provisions of the Dodd-Frank Act. The first bill, the Swap Execution Facility Clarification Act, would prohibit the Commodity Futures Trading Commission and the Securities Exchange Commission from requiring facilities to maintain a minimum number of participants to receive or respond to quote requests; require facilities to display or delay quotes; limit the means of interstate commerce that market participants can use to execute swap transactions; and require one trading system. The second bill, the Business Risk Mitigation and Price Stabilization Act, exempts end users from margin requirements on swaps that do not go through a clearinghouse. The third bill, H.R. 2779, ensures entities under a common corporate ownership are able to manage risks without unnecessary costs ...
  • WASHINGTON (12/2/11)--Michael S. Gibson was appointed director of the Federal Reserve Board's division of banking supervision and regulation, effective Jan. 1. Gibson, a deputy director in the board's division of research and statistics with an expertise in risk management and financial markets, succeeds Patrick M. Parkinson. Parkinson is retiring after more than 30 years of service with the board. The division develops regulatory policy and oversees the supervision of state member banks; bank, financial, and savings and loan holding companies and their subsidiaries; and U.S. branches and agencies of foreign banking organizations. The director of the division represents the Federal Reserve on the Basel Committee on Banking Supervision and works closely with officials from other U.S. and international government agencies on bank oversight issues. Gibson is an economist who began his career at the Federal Reserve in 1992 in the banking section of the division of international finance. He moved to the trading risk analysis section in the division of research and statistics in 1999 and was selected chief of that section in 2000. Earlier this year, Gibson was promoted to deputy director, with responsibility for the division's financial functions …


News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas
9 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow
10 hours ago
#NewsNow Iowa loan growth 3 times national bank rate
12 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards
14 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee
14 hours ago