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KEVIN FROMER - 1 RICK MECKLER - 1 CHERRY - 1 MAYRA RODRIGUEZ VALLADARES - 1 KENNETH BENTSEN - 1 BRIAN MOYNIHAN - 1 ANDY DUANE - 1 GREG BAER - 1
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3 mentions found


☆ US bank regulators announce sweeping proposals on capital rules
  + stars: | 2023-07-27 | by ( ) www.reuters.com   time to read: +4 min
WASHINGTON, July 27 (Reuters) - U.S. regulators unveiled a sweeping overhaul Thursday that would direct banks to set aside billions more in capital to guard against risk. If fully implemented, the proposal would raise capital requirements for large banks by an aggregate 16% from current levels, with the brunt felt by the largest and most complex firms, regulators said. Here are key quotes about the proposal:FINANCIAL SERVICES FORUM CEO KEVIN FROMER"There is no justification for significant increases in capital at the largest U.S. ANDY DUANE, ATTORNEY AT POLUNSKY BEITEL GREEN "Raising capital requirements could see regional banks shift away from mortgage lending. Even larger bank lenders could continue to retreat from mortgage lending or impose sharp increase in fees passed along to borrowers."
Persons: KEVIN FROMER, RICK MECKLER, CHERRY, MAYRA RODRIGUEZ VALLADARES, KENNETH BENTSEN, BRIAN MOYNIHAN, ANDY DUANE, GREG BAER, Pete Schroeder, Matt Tracy, Tatiana Bautzer, Nupur Anand, Sinead Carew, Lananh Nguyen, Nick Zieminski Organizations: Regulators, NEW VERNON, NEW, MRV, AMERICA, FOX, Thomson Locations: U.S, CHERRY LANE, NEW JERSEY, Basel, United States, Washington, New York
☆ SEC to vote on new money-market rules Wednesday that industry opposes
  + stars: | 2023-07-12 | by ( Bob Pisani | ) www.cnbc.com   time to read: +5 min
The SEC is expected to vote on new rules for money-market funds Wednesday. Increase in liquidity requirements Most money market funds invest exclusively in cash or government securities. Some, known as "prime" money market funds, also invest in commercial paper. All are subject to liquidity requirements (some assets have to be readily convertible to cash), including levels of daily and weekly liquidity requirements. The Securities Industry and Financial Markets Association (SIFMA), an industry trade group, wrote to the SEC, expressing "substantial concerns" about the liquidity requirements.
Persons: Jon, Luc Dupuy, SIFMA, Kenneth Bentsen, Brad Sherman, Sherman, Dupuy, redemptions Organizations: SEC, Federal, Bloomberg, CNBC, Asset Management, Investment Funds, Securities Industry, Financial Markets Association
☆ Wall Street lines up against SEC chair Gary Gensler on one of his most controversial proposals
  + stars: | 2023-03-31 | by ( Bob Pisani | ) www.cnbc.com   time to read: +15 min
However, Gensler has claimed that pension funds and other institutional investors are not able to interact with that retail order flow. Auctions: the industry lines up against it The auction proposal has generated a large volume of comment letters to the SEC. He has said investors today need a better understanding of how well their trading orders are being executed. Theoretically, the SEC could vote on any or all of the four proposals in a shorter time period. This is just the start This is just the start of many proposals in front of the SEC.
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