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The trade’s idea of corn yield lines up with past similar years. Other than 2023, the last three times that soybean yields fell in August, September and October were 2008, 2003 and 1999. Crop Watch results generally support these predictions since the 11-field soybean yield ended up close to the season’s lowest score while corn yields bounced a bit at the end. It has been 15 years since the agency lowered Brazil’s soy crop between October and November. 2024Without severe crop losses in Brazil’s soy or corn this year, U.S. supplies, especially corn, could balloon in 2024-25.
Persons: USDA’s, Karen Braun, Matthew Lewis Organizations: U.S . Department of Agriculture, South, Reuters, SOUTH AMERICA, Consultancy, USDA, Thomson Locations: NAPERVILLE , Illinois, U.S, USDA, Mato Grosso, Argentina
Bridgewater rigged its "believability weighting" system to keep founder Ray Dalio on top, a new book says. That's according to "The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend," out Tuesday from New York Times finance reporter Rob Copeland. Bridgewater's believability weighting system, in theory, was supposed to help determine how much weight a person's opinion carried and to help identify hidden talent within the firm. Bridgewater started experimenting with Dalio's believability weighting system with a prototype allowing staff to see each others' scores on a scale of 1-to-10, but Dalio wasn't pleased, the book said. In response to a request for comment from Insider on the book's assertions regarding the believability rating system, Bridgewater provided excerpts of letters that its lawyers sent to the book's publisher, St. Martin's Press.
Persons: Bridgewater, Ray Dalio, outranked, Dalio, , Rob Copeland, Dalio wasn't, He'd, Copeland Organizations: Service, Bridgewater Associates, New York Times, , Bridgewater, New, Martin's Press Locations: Bridgewater
So don't miss out on a free Arsenal vs Sevilla live stream that you can watch from anywhere. Just a heads-up: if you're not in the country showing the free Arsenal vs. Sevilla live stream from the guide below, you'll hit a geo-block when you try to watch. *Belgium's RTL Club is free, but you must create a free login to access the free Champions League streams. Then get stuck in and enjoy this free Champions League live stream. How to watch Arsenal vs. Sevilla live stream with a VPNSign up for a VPN if you don't have one.
Persons: Mikel Arteta's, they're, you'll, we've, Stan, Stan Sport, ExpressVPN, you've, Stan Sport's, You'll Organizations: Mikel Arteta's Gunners, Sevilla, Spanish Europa League, Arsenal, Lens, La Liga, Europa League, PSV, League, RTL, Rugby, RTL Club, BT Sport, TNT Sport, BT, TNT, Discovery, Amazon, Amazon Prime, Champions League, Champions, Stan Sport, Sport, country's Champions League, Paramount Plus, Paramount, CBS, Netflix, PayPal Locations: La, Europe, Belgium, Belgian, Australia, USA
Thankfully, there's a free Copenhagen vs. Man United live stream you can take advantage of tonight. Better yet, unlike many free Champions League live streams around Europe, this one will be broadcast in English as it comes from Ireland. Where to watch Copenhagen vs. Man United free from anywhereAs mentioned in the box above, an Irish TV channel is showing the game for free today. Then get stuck in and enjoy this free Champions League live stream. How to watch Copenhagen vs. Man United live stream with a VPNSign up for a VPN if you don't have one.
Persons: there's, you'll, they're, Stan, Stan Sport, ExpressVPN, you've, Stan Sport's, You'll, we've Organizations: Devils, Champions League, Copenhagen, Galatasaray, Bayern, Old, Europa League, Rugby, League, Virgin Media, BT Sport, TNT Sport, BT, TNT, Discovery, Amazon, Amazon Prime, United, Champions, Stan Sport, Sport, country's Champions League, Paramount Plus, Paramount, CBS, Netflix, PayPal Locations: Copenhagen, Europe, Ireland, Old Trafford, Irish, Australia, USA
How to watch Bayern vs. Galatasaray for free from anywhereAs mentioned in the box above, a Luxembourgish TV channel is showing the game for free today. Then get stuck in and enjoy this free Champions League live stream. How to watch Bayern vs. Galatasaray live stream with a VPNSign up for a VPN if you don't have one. Where to watch Bayern vs. Galatasaray in AustraliaThe Champions League is a Stan Sport exclusive in Australia, and you can watch every game there. So, if you can get around all this, you can enjoy the best value Champions League live streams in the world.
Persons: Harry Kane, we're, we've, Kane, you'll, Stan, Stan Sport, ExpressVPN, you've, Stan Sport's, You'll Organizations: Bayern, Galatasaray, tonight's Champions League, Man United, League, Rugby, BT Sport, TNT Sport, BT, TNT, Discovery, Amazon, Amazon Prime, Champions League, Australia, Champions, Stan Sport, Sport, country's Champions League, Paramount Plus, Paramount, CBS, Netflix, PayPal Locations: Munich, Istanbul, Europe, Luxembourg, Luxembourgish, RTL2, Australia, USA
Let us help you get set to watch a free AC Milan vs. PSG live stream today in just a few clicks. Then get stuck in and enjoy these free Champions League live streams. How to watch AC Milan vs. PSG live stream with a VPNSign up for a VPN if you don't have one. Where to watch Champions League in AustraliaThe Champions League is a Stan Sport exclusive in Australia. So, if you can get around all this, you can enjoy the best value Champions League live streams in the world.
Persons: we've, you'll, Stan, Stan Sport, AEST, ExpressVPN, you've, Stan Sport's, You'll Organizations: PSG, Milan, League, Champions League, Rugby, BT Sport, TNT Sport, BT, TNT, Discovery, Amazon, Amazon Prime, Champions, Stan Sport, Sport, country's Champions League, Paramount Plus, Paramount, CBS, Netflix, PayPal Locations: Milan, Newcastle, Dortmund, Europe, Italy, Luxembourg, Australia, USA
Tennis - WTA Finals - Cancun, Mexico - November 5, 2023 Poland's Iga Swiatek in action during her semi final match against Belarus' Aryna Sabalenka REUTERS/Henry Romero Acquire Licensing RightsNov 5 (Reuters) - Poland's Iga Swiatek knocked out rival Aryna Sabalenka 6-3 6-2 in the semi-final of the season-ending WTA Finals in Cancun on Sunday, putting the world number one ranking within her reach ahead of Monday's title match. The current number one Sabalenka ended Swiatek's WTA Finals campaign in the penultimate stage a year ago but lacked her usual lethal power in Cancun, as a flurry of forehand errors undermined her best efforts. The four-time major winner Swiatek wrested the momentum immediately when play resumed on Sunday, and broke Sabalenka's serve in the fourth game. The 22-year-old pumped her fists and cheered wildly as the Australian Open champion Sabalenka sent one into the net on match point. She faces a tough challenge against an in-form Pegula, who shredded the U.S. Open champion Coco Gauff 6-2 6-1 to reach the title match on Saturday.
Persons: Iga, Aryna Sabalenka, Henry Romero, Iga Swiatek, Aryna, Jessica Pegula, Swiatek, Sabalenka's, Sabalenka, I'm, Coco Gauff, Jessie, Amy Tennery, Pearl Josephine Nazare, Shri Navaratnam, Josie Kao, Raju Gopalakrishnan Organizations: Belarus, Aryna Sabalenka REUTERS, WTA, China, Swiatek, Montreal, Thomson Locations: Cancun, Mexico, U.S, Pegula, New York, Bengaluru
CANCUN, Mexico (AP) — Iga Swiatek gave herself a shot at her first WTA Finals title and the year-end top ranking by eliminating No. The second semifinal, Swiatek vs. Sabalenka, was stopped in the fourth game. And on this court, she was definitely way, way better than me,” Sabalenka said. Sabalenka, who won the Australian Open in January for her first major title, could have guaranteed herself remaining at No. “Overall, I feel like me and Jessie, we played really in a smart way, and we’ve really kept calm.
Persons: Iga Swiatek, Jessica Pegula, they've, ” Swiatek, Pegula, Coco Gauff, Swiatek, , ” Sabalenka, Sabalenka, Justine Henin, Jessie, we’ve, Organizations: WTA, Pegula Locations: CANCUN, Mexico, Poland, United States, Cancun,
Klein, who didn't testify at his trial, declined to address the court before U.S. District Judge Trevor McFadden sentenced him to five years and 10 months in prison. Prosecutors said Klein’s participation in the riot was likely motivated by a desire to keep his job as a presidential appointee. Prosecutors had recommended a 10-year prison sentence for Klein, an Alexandria, Virginia, resident who was 42 years old at the time of the riot. Klein and Cappuccio separately attended Trump's “Stop the Steal” rally on Jan. 6 before marching to the Capitol. Approximately 700 of them have been sentenced, with roughly two-thirds receiving terms of imprisonment ranging from three days to 22 years.
Persons: Donald Trump's, Federico Klein, Klein, Klein “, , Joe Biden’s, Trevor McFadden, McFadden, Prosecutors, Stanley Woodward, Trump, ” Woodward, Steven Cappuccio, Cappuccio, ” Klein, ” McFadden, Daniel Hodges Organizations: WASHINGTON, Marine Corps, Department, U.S . Capitol, Trump, Capitol, U.S, Southern Cone Affairs, Defense, Prosecutors, Cappuccio, Metropolitan Police, State Department Locations: West Terrace, Alexandria, Virginia, Universal City , Texas, Iraq, Nevada
Here's what to watch in Friday's big October jobs report
  + stars: | 2023-11-02 | by ( Jeff Cox | ) www.cnbc.com   time to read: +4 min
Don't hold your breath looking for that big of a decline, said Amy Glaser, senior vice president at global staffing firm Adecco. We're still seeing resilience in the market," Glaser said. Indeed, a potentially important trend has been the hiring of part-time workers in recent months. Strike impactClose to half a million American workers have gone on strike in recent months. While a number of those high-profile stoppages have been resolved, some of the activity will show up in the October jobs report.
Persons: you've, payrolls, Dow Jones, Amy Glaser, We're, Glaser, Jerome Powell, Jeffrey Roach, Roach, Homebase Organizations: Labor Department, Federal Reserve, LPL, Employers, of Labor Statistics, United Auto Workers
But on that winter night in 1985 even Knight's mother, Hazel, sensed something was different as she watched the scene. In the years following the chair-throwing game, former players told stories of Knight's practices, with some alleging physical, verbal or emotional abuse. The chair stopped near the sideline and Reid helped retrieve it, linking him with Knight for college basketball eternity. Longtime public address announcer Chuck Crabb had the unenviable task of telling fans Knight had been ejected. "I get up, and I'm up and down a lot, and one time I'm standing up and I looked across the floor and (hear) 'Coach Knight?'"
Persons: Bob Knight, Knight, nonchalantly, Steve Reid, Pat, Hazel, Bobby, John Feinstein, Reid, speck, , Bob, Chuck Crabb, Crabb, Pat Keady, Everett Stephens, Wayne Duke, Dan Dakich, Lou Henson, David Feherty, David Letterman’s Organizations: Indiana, Purdue, Boilermakers, Texas Tech, NCAA, Associated Press, Big, ESPN, Channel Locations: BLOOMINGTON, Ind, Soviet Union
Oct 30 (Reuters) - Iga Swiatek erased a 5-2 first set deficit and ultimately rolled to a 7-6(3) 6-0 win over Marketa Vondrousova in the Pole's first match of the group stage of the season-ending WTA Finals in Cancun on Monday. Swiatek completed the first set comeback on a double fault and a disillusioned Vondrousova went quietly in the second set. She came into her third WTA Finals with a ton of momentum, however, after winning her first WTA 1000 title of the season in Beijing, and has a chance to retake the top spot from Aryna Sabalenka in Cancun. Vondrousova, who made her top-10 debut after emerging as the surprise winner of Wimbledon, is making her first appearance at the season-ending Finals, which features the top eight singles players and doubles teams in the world. Reporting by Rory Carroll in Los Angeles; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
Persons: Marketa, Swiatek, Vondrousova, Rory Carroll, Muralikumar Organizations: Wimbledon, Thomson Locations: Cancun, Beijing, Vondrousova, Los Angeles
President Biden just signed an executive order regarding the development and use of AI technology. The broad executive order touches on more than a dozen possible uses of AI and generative AI that already are, or could in the future, directly impact people's lives. The size threshold is so high that currently most available models do not meet the criteria for further transparency called for in Biden's executive order. Although all of the major tech companies earlier this year agreed to adhere to standards of responsibility and training in their AI work. Do you think AI is in a hype cycle, and everybody's overreacting to what it's going to mean?
Persons: Biden, Ben Buchanan, , Buchanan, Andrew Bosworth, We're, everybody's, Ben, Kali Hays Organizations: Service, White, Office of Science, Technology, Monday, Meta, Google, Microsoft, National Institute of Standards, Biden White House, Department of Commerce . Technology, Atomic Energy, Defense, EO Locations: United States, khays@insider.com
So before tip-off, here is everything you need to know ahead of the new NBA season. How to watchThe 78th NBA regular season will begin on Tuesday, October 24, running until Sunday, April 14, 2024. Games will be broadcast across TNT, ESPN, ABC, NBA TV and ESPN Radio in the US over the season, while NBA TV and NBA League Pass will broadcast games internationally. The dominant talking point of the NBA offseason was what color jersey Damian Lillard would be putting on this season. Holiday dribbles during the second half of the Celtics' preseason game against the New York Knicks.
Persons: There’s, Damian Lillard, Lillard, Giannis Antetokounmpo, Antetokounmpo, Adam Pantozzi, “ I’ve, I’ve, , Giannis, , Sarah Phipps, , Jayson Tatum, Jaylen Brown, Porziņģis, Joe Mazzulla, Maddie Meyer, , Joel Embiid, Nikola Jokić, Jamal Murray, Bruce Brown, Jeff Green, Bradley Beal, Devin Booker, Kevin Durant, Durant’s, didn’t, Beal, Frank Vogel, who’s, Larry O’Brien, Ja Morant, – Kawhi Leonard, Paul George –, Zion Williamson, Victor Wembanyama, Frenchman, Wembanyama, Gregg Popovich, LeBron James, Garrett Ellwood, Oklahoma City Thunder’s Chet Holmgren, Holmgren, Scoot Henderson –, Thompson, Ausar Organizations: CNN, National Basketball Association, NBA, TNT, ESPN, ABC, NBA TV, ESPN Radio, Portland Trail Blazers, Miami Heat, Milwaukee Bucks, Milwaukee, Trail Blazers, Boston Celtics, Lakers, Bucks, Milwaukee’s, Los Angeles Lakers, , Oklahoma City Thunder, Eastern Conference, Celtics, New York Knicks, Philadelphia 76ers, Denver Nuggets, Denver, Jokić, Nuggets, Memphis Grizzlies, Phoenix Suns, Los Angeles Clippers, Golden State Warriors, Minnesota Timberwolves, New Orleans Pelicans, Dallas Mavericks, Suns, Grizzlies, Clippers, Pelicans, Warriors, Timberwolves, Mavericks, San Antonio Spurs, Spurs ’, Heat, Oklahoma City, Thunder, Summer League, Spurs, Houston Rockets, Detroit Pistons Locations: Las Vegas, Oregon, Boston, East, Sacramento Kings, Alamo City
Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsWASHINGTON, Oct 20 (Reuters) - A trio of U.S. banking regulators announced on Friday they were giving the public extra time to digest and provide feedback on a broad proposal to raise bank capital requirements that is already facing fierce industry pushback. The regulators are similarly extending the window for a separate proposal that would raise a capital surcharge for the largest global banks. Firms have warned the proposal if finalized could force them to curtail lending, curb product offerings, and lead to economic harm. The "Basel Endgame" proposal implements international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis.
Persons: Rick Wilking, Banks, Pete Schroeder, Andrea Ricci Organizations: REUTERS, Rights, Federal Reserve, Federal Deposit Insurance Corporation, Currency, Regulators, Banking, Fed, Thomson Locations: Westminster , Colorado
ARLINGTON, Texas (AP) — Jose Altuve thrives under pressure for the Houston Astros, able to stay calm in the biggest October moments even after another bench-clearing fracas against the Texas Rangers. “This dude is one of the baddest dudes I’ve ever seen, and I’ve seen some greats.”Baker wasn't in the dugout when Altuve hit his 26th career postseason homer, second in major league history behind Manny Ramirez (29). García, Abreu and Baker were all ejected. “The guy hits a three-run homer; the next time up he gets smoked,” Texas manager Bruce Bochy said. The 5-foot-6 Altuve, playing in his 101st postseason game for Houston, then pulled an 0-1 changeup over the left-field fence, just beyond the glove of a leaping Evan Carter.
Persons: — Jose Altuve, Altuve’s, Friday, “ He’s, , Dusty Baker, I’ve, ” Baker wasn't, Altuve, Manny Ramirez, Adolis García, Bryan Abreu, García, Martín Maldonado —, ” García, , Abreu, Baker, James Hoye, Bruce Bochy, “ I’d, José Leclerc, Yainer Diaz, Jon Singleton, Evan Carter, You’ve, Alex Bregman, ” Altuve, Cy Young, Justin Verlander, Corey Seager, Carter, Nathaniel Lowe, Ryan Pressly, Pressly, Marcus Semien, Seager flied, Houston, El Bombi, José Abreu, Jordan Montgomery, Seager, Josh Sborz, Verlander, Lowe, Nathan Eovaldi, Framber Valdez, Eovaldi, Valdez, ___ Organizations: Houston Astros, Texas Rangers, Astros, Rangers, ” Rangers, Houston, 101st, , Lone Star State, AL West, Texas, Semien, Monday Locations: ARLINGTON , Texas, ” Houston, Houston, Texas, Arlington, Verlander
A recent survey on hiring practices led by hiring software company Greenhouse found "pretty sobering stats" about discrimination in hiring processes, says Ariana Moon, head of talent planning and acquisition at the company. Almost one-fifth of job seekers tried to protect themselves against these discriminatory hiring practices by changing their names on applications. Of those that change their names, 45% did so to sound 'less ethnic', 42% to sound younger and 22% to sound like the opposite gender. Under federal employment law, applicants are protected from employment discrimination that may be based on race, color, religion, sex, national origin, age, disability or genetic information. ET to learn how to level up your interview and negotiating skills, build your ideal career, boost your income and grow your wealth.
Persons: Greenhouse, Ariana Moon Organizations: CNBC
SINGAPORE, Oct 18 (Reuters) - The International Monetary Fund (IMF) downgraded its 2023 and 2024 growth forecasts for China, saying its recovery was "losing steam" and citing weakness in its property sector. The report projected that a prolonged housing market correction in China would in the near-term "trigger greater financial stress among property developers and larger asset quality deterioration". The IMF's 2023 outlook for Asia and the Pacific was brighter, with IMF calling it "the most dynamic region this year". Growth in Asia and the Pacific, however, is expected to slow to 4.2% next year. Central banks in the region, however, should guard against easing monetary policy prematurely, the IMF added.
Persons: Kanupriya Kapoor Organizations: Monetary Fund, IMF, Thomson Locations: SINGAPORE, China, Asia, Disinflation, Japan, Central
Basel proposes crypto disclosures by banks from January 2025
  + stars: | 2023-10-17 | by ( ) www.reuters.com   time to read: +1 min
The Basel Committee of banking regulators from the world's main financial centres agreed new rules last December on how much capital banks should hold to cover different types of cryptoassets. On Tuesday, they set out for public consultation how the holdings should be disclosed to investors. "Under the proposals, banks would be required to disclose qualitative information on their activities related to cryptoassets and quantitative information on exposures to cryptoassets and the related capital and liquidity requirements," the Basel Committee said in a statement. Banks would also be required to provide details of the accounting classifications of their exposures to cryptoassets and crypto liabilities, it said. Reporting by Huw Jones; Editing by Kirsten Donovan and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Banks, Jan, Huw Jones, Kirsten Donovan, Emelia Organizations: REUTERS, Global, Committee, Thomson Locations: cryptoassets
Several months before his guilty plea, Kelley posted on social media that the Capitol riot was an FBI “set up." Kelley spoke at a “Stop the Steal” rally at the state Capitol in Lansing in November 2020, shortly after the presidential election. Kelley remained on Capitol grounds for nearly two hours but isn't accused of entering the building that day. Also on Tuesday, a woman who smashed a window at the Capitol and used a bullhorn to direct other rioters on Jan. 6 was sentenced to four years and nine months in prison. A prosecutor has said Powell, 41, of Sandy Lake, Pennsylvania, played a “leading role” during the riot.
Persons: Ryan Kelley, Kelley, FBI “, , Christopher Cooper, ” Cooper, Donald Trump’s “, Trump, , ” Kelley, isn’t, “ Mr, Shanai Watson, Tudor Dixon, Gretchen Whitmer, Mr, Gary Springstead, Kelley “, Royce Lamberth, Rachel Marie Powell, Lamberth, Powell Organizations: WASHINGTON, , Republican, Michigan, U.S . Capitol, FBI, Facebook, District, Washington , D.C, Capitol, Democrat, Locations: Allendale , Michigan, Washington ,, Lansing, Michigan, U.S, Sandy Lake , Pennsylvania
Pegula Beats Yuan to Claim Korea Open Title
  + stars: | 2023-10-15 | by ( Associated Press | Oct. | At A.M. | ) www.usnews.com   time to read: +1 min
SEOUL (AP) — Jessica Pegula beat Yuan Yue 6-2, 6-3 in the final of the Korea Open on Sunday for the fourth title of her career. The top-seeded Pegula dropped only one set through the tournament and becomes the first American since Venus Williams in 2007 to win the title in Seoul. “My mom is Korean and she was adopted from here so it’s really special to be able to win here,” Pegula said. So it’s really special.”Playing in her first career final, 128th-ranked Yuan showed no signs of nerves and earned a break point in Pegula's opening service game, which the American saved with a forehand winner. 4-ranked player then won eight consecutive games to take the first set and build a 3-0 lead in the second as a quick victory looked likely.
Persons: — Jessica Pegula, Yuan Yue, Pegula, Venus Williams, , ” Pegula, I’ve, it’s, Yuan, ___ Organizations: Korea Locations: SEOUL, Seoul, Montreal, North America
Bottom line Wells Fargo's quarterly revenue outpaced expectations on the back of better-than-expected results for both net interest income (NII) and non-interest income. Middle-market banking revenue increased 23% year-over-year, as higher interest rates and loan balances were only partially offset by lower deposits. Asset-based lending and leasing revenue was up 3% annually, a result of loan growth and increased revenue from renewable energy investments. Total banking revenues increased 20% year-over-year, a result of higher rates and lending revenues, along with "higher investment banking revenue on increased activity across all products." Commercial real estate revenue increased 14% year-over-year, due to higher rates and revenue growth in the firm's low-income housing business.
Persons: Wells, Wells Fargo, we've, Charlie Scharf, Wall, Scharf, NII, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Wells, Basel III, Management, Consumer, Auto, CNBC, Wells Fargo Bank Locations: Wells Fargo, Basel, U.S, San Bruno , California
A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange, October 16, 2012. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Oct 13 (Reuters) - Big bank executives warned a number of products and services could become uneconomical if new proposed bank capital hikes are adopted as written, but said they were hopeful they could win some changes. Citi Chief Financial Officer Mark Mason said the proposal would lead to a 16% to 20% increase in the bank's capital. The bank is reviewing products and operations, he said, highlighting equity investments, which will also be deemed much riskier under the rules. Citi is also reviewing credit products and where they may need to reprice those, and whether they need to restructure any of their markets positions.
Persons: Brendan McDermid, Jeremy Barnum, Barnum, Michael Barr, Banks, Mark Mason, Mason, Wells, Michael Santomassimo, Santomassimo, Tatiana Bautzer Organizations: Citi, Citigroup, New York Stock Exchange, REUTERS, Rights, Big, JPMorgan, . Federal, Basel III, Thomson Locations: Wells Fargo, Basel
[1/4] The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. The IMF adjusted this year's stress test to probe the impact of its baseline economic scenario of higher interest rates for longer, as well as the possibility of consumers yanking deposits. "Under the baseline, it's about 5% of banks that are relatively weak in terms of their capital. And in severe stress, that number goes up to 30% or sometimes higher," Adrian said. The IMF did not identify the banks that could be in trouble if those economic circumstances arose, but they included both small and large lenders.
Persons: Yuri Gripas, Tobias Adrian, Adrian, There's, Pete Schroeder, Michelle Price, Paul Simao Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, IMF, Valley Bank, Switzerland's Credit Suisse Group, Monetary, Capital Markets Department, Palestinian, World Bank, U.S, Thomson Locations: Washington , U.S, California, Israel, Gaza, Marrakech, Morocco, Italy, Federal, U.S
REUTERS/Kevin Lamarque/ Acquire Licensing RightsWASHINGTON, Oct 9 (Reuters) - The U.S. Federal Reserve's top regulatory official defended a sweeping proposal to overhaul bank capital rules before the country's largest bank lobby on Monday, arguing the benefits of a bigger cushion outweigh any additional costs banks might face. The proposal implements international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis. Barr's Monday speech, which is his first on bank regulation since the proposal came out, served as a broad-based defense of the effort. "The private costs of capital must be weighed against the social benefits of higher capital in creating a healthier, more resilient financial system," he said, according to prepared remarks. Barr also pushed back against the industry's refrain that higher capital costs for banks will mean curtailed lending and potential economic harm.
Persons: Michael Barr, Kevin Lamarque, Michael Barr's, Barr, Jerome Powell, Powell, Isaac Boltansky, Pete Schroeder, Michelle Price, Josie Kao, Andrea Ricci Organizations: Financial, Valley Bank, Signature Bank, Capitol, REUTERS, Rights, U.S, Federal, Banking, Silicon Valley Bank, Thomson Locations: Washington , U.S, Silicon
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