March, 2011 Senate commentary

From Riski

Contents 1 March 31 2 March 30 3 March 29 4 March 28 5 March 27 6 March 26 7 March 25 8 March 24 9 March 23 10 March 22 11 March 21 12 March 20 13 March 19 14 March 18 15 March 17 16 March 16 17 March 15 18 March 14 19 March 13 20 March 12 21 March 11 22 March 10 23 March 9 24 March 8 25 March 7 26 March 6 27 March 5 28 March 4 29 March 3 30 March 2 31 March 1

March 31

• G20 lays bare different reform agendas at China forum Reuters
• Geithner: inflexible currencies are biggest monetary problem Reuters
• ECB FOCUS-Europe rates to lead U.S. as global power shifts Reuters
• ECB Suspends Minimum Credit-Rating Threshold for Irish Debt Bloomberg
• Thomas M Hoenig: Monetary policy and shifting economic risks BIS
• Fed Nominee Diamond Gets Brushback in Bid for Central Bank Seat Bloomberg
• Presenting The Complete Fed Discount Window Data Dump ZeroHedge
• A first look through the Fed’s discount window FT Alphaville
• Fed Releases Discount-Window Loan Records Under Order Bloomberg
• JPMorgan Borrowed at Least $5.9 Billion From Fed Discount Window Bloomberg
• N.Y. Fed Derivatives Club Decried by Pension Plans as Danger to Dodd-Frank Bloomberg
• In Debate Over Bank Capital Regulation, a Trans-Atlantic Gulf New York Times Dealb%k
• Greetings! We’re from the Fed and We’re Here to Supervise You Shearman & Sterling
• Fed rejects AIG bond offer, sets auction plan Reuters
• They’ve Got to Fix Their Priorities New York Times
• Orderly Liquidation Authority: The Next Step in FDIC Rulemaking Debevoise & Plimpton
• New Proposal for Financial Market Utilities ABA Tracker
• Listing Standards for Compensation Committees SEC
• Incentive Compensation Proposed Rule Released ABA Tracker
• Credit Risk Retention SEC, OCC, Federal Reserve Board, FDIC, Commission, FHFA, and HUD
• The Good, the Bad, and the Ugly: Qualified Residential Mortgage and Risk Retention ABA Tracker
• "Whistling" CFTC
• CFTC Considering Data, Comments on Position Limits Dow Jones
• Dimon warns of bank ‘nail in coffin’ Financial Times
• Guilty plea in bid-rigging for muni bond proceeds Reuters
• U.S. States' Pension Funded Ratios Drift Downward Standard & Poors
• Complex Bond Faces Regulators' Scrutiny Wall Street Journal

March 30

• Statistics on payment and settlement systems in the CPSS countries BIS
• Under the framework of the G20 reform of the international monetary system China Center for International Economic Exchanges
• HSBC chairman calls for ‘systemic’ list of banks Financial Times
• Sovereign Rating News and Financial Markets Spillovers: Evidence from the European Debt Crisis IMF
• Sovereign Ratings Add to Europe Instability, IMF Paper Says Bloomberg
• Ratings don’t kill sovereigns, ratings users do FT Alphaville
• EU Commission has concerns about credit rating agencies Reuters
• Euro area monetary and financial statistics - 2010 quality report ECB
• Euro area balance of payments and international investment position statistics - 2010 quality report ECB
• LCH.Clearnet launches service for non-bank swap users Finextra
• Obama Treasury Celebrates Bailout Profits While Ignoring Costs, Legacy Huffington Post
• Why Do Central Banks Have Discount Windows? Federal Reserve Bank of New York
• NY Fed to auction securities portfolio Financial Times
• A.I.G.’s Chief Calls Fed Rejection a ‘Huge Problem' New York Times DealB%k
• Opinion piece by Alan Greenspan: Dodd-Frank fails to meet test of our times Financial Times
• House votes to kill main Obama foreclosure aid Reuters
• House GOP Makes the Next Move on GSE Reform Blank Rome
• Industry readies pushback against mortgage risk retention proposal Housing Wire
• Foreclosure Aid Fell Short, and Is Fading New York Times DealB%k
• Management Report: Improvements Needed in SEC’s Internal Controls and Accounting Procedures GAO
• Quarterly Summary of State & Local Tax Revenue US Census
• JPMorgan’s Dimon Says Hundreds of Municipalities Won’t ‘Make It’ Bloomberg
• Takeovers in US local government? FT Alphaville
• Bankruptcy Threatens County Wall Street Journal
• Banks cry poor; their profits beg to differ Marketplace Radio

March 29

• China’s Five-Year Plan and Global Interest Rates Project Syndicate
• S&P says new EU fund is negative "game changer" Reuters
• Reverse Repo Closes, Whopping $2.2 Billion In Liquidity Taken Out Of Market ZeroHedge
• Agencies Propose “Living Will” and Credit Exposure Requirements CCH Federal Banking Law Reporter
• Proposed legislation re reform of the GSEs House Financial Services Committee
• Banking Agencies Jointly Acting on Risk Retention This Week ABA Tracker
• Treasury to grade servicers on HAMP performance Housing Wire
• Video: FDIC's Bair Says Risk-Retention Rule Is `Good, Balanced' Bloomberg
• SEC Proposes Reaffirmation of Existing Treatment of Security-Based Swaps Harvard Law School Forum
• Measuring Ratings Performance PF2 Securities
• Fiduciary-duty rule delayed until late in the year Investment News
• State, local revenues up 33 pct in Q4-US Census Reuters
• State and local tax revenues over the last decade Reuters
• City Investor Relations Sites Lauded Dow Jones
• Dodd-Frank Private Fund Manager Regulation Citi Prime Finance
• Fed banks map out mobile payments path Finextra
• As Morgan Stanley Unwinds Its Massive MBIA CDS Losing Position, Is A Billion+ Hit To Earnings Coming? ZeroHedge

March 28

• A Grand Bargain That Cannot End the Crisis Financial Times
• Revisiting The Grand Farcade: A Visual Guide To Round Two Of The European Stress Test ZeroHedge
• Ireland Wants Bondholders to Share Bank Burden, Minister Says Bloomberg
• Eurobond standardisation urged IFR
• Sovereign debt: Hard to credit Financial Times
• Whither the credit ratings industry? Bank of England2
• Fitch Ratings Sovereign 2010 Transition and Default Study Fitch Ratings
• ESMA Data on Prospectuses Approved and Passported - July 2010 to December 2010 ESMA
• Flow of Funds Guide Federal Reserve Board
• Assets and Liabilities of Commercial Banks in the United States - H.8 Federal Reserve Board
• GAO: Implementing Dodd-Frank Could Cost $2.9 Billion Wall Street Journal
• Different strokes Markit magazine
• Geithner Won't Shield Forex Options Reuters
• With The CFTC Position Limit Response Period Over, Here Are Select Opinions ZeroHedge
• CDS options market multiplies alongside questions FT Alphaville
• FSB publishes peer review on residential mortgage underwriting and origination practices Banknet India
• Big Banks Save Billions As Homeowners Suffer, Huffington Post
• Securitizers, Lenders Said to Get Risk-Retention Options in Plan Bloomberg
• Trade groups push for more private capital housing policy Housing Wire
• JPMorgan loses court ruling over loan putbacks Reuters
• NCUA Proposal to Replace References to Credit Ratings CUNA
• Debt and Taxes Markit Magazine
• Muni Defaults: Whitney and Roubini The Big Picture
• Wall Street To Trade Municipal Bonds Like It Trades Mortgages Business Insider
• Track record of mega mergers not so rosy Seattle Times

March 27

• IOSCO Begins Initiatives to Involve Securities Regulators in Mitigating Systemic Risk CCH Federal Securities Law Reporter
• Weighing the capital risks IFR
• Bernanke braves the Fed-bashers Financial Times
• US bill raises fears for covered bonds Financial Times
• Interchange Under Attack Economics of Contempt
• Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in April 2010 BIS
• FIMA 2011: Five Steps to Getting Counterparty Data Right Securities Technology Monitor
• Will New Rules Stop Brokers From Nibbling on Your Returns? Wall Street Journal
• Supreme Court Holds Corporations Don’t Have Privacy Interest Assertable Under FOIA Harvard Law School Forum

March 26

• How Fitch, Moody's and S&P rate each country's credit rating. UPDATED The Guardian
• 2011 Sovereign Credit Risk Outlook Dagong Global Credit Rating Company
• ECB close to liquidity deal for troubled banks-source Reuters
• Fed's Bullard sees risks with "extended period" phrase Reuters
• Hot CoCos—The Next Bank Hybrid? Debevoise & Plimpton
• Note to Banks: It’s Not 2006 Anymore New York Times
• How Not to Make a Mortgage Servicing Settlement: Lessons from '08 American Banker
• In Prison for Taking a Liar Loan New York Times
• The lingering toxicity of banks’ balance-sheets The Economist
• Remarks, OTC Derivatives Reform, European Parliament, Chairman Gary Gensler CFTC

March 25

• EP approves Verena Ross as ESMA’s Executive Director ESMA
• : Capital discipline Capital Discipline
• Addressing the Disconnect between Banks’ Financial and Regulatory Reporting EDHEC
• Dear RepoClear Member, Re: Portugal FT Alphaville
• Libor Probe Spurs Witness Call-up at Citigroup, Deutsche Bank Bloomberg
• Libor highballs? FT Alphaville
• FSA Said to Review Credit-Default Swaps in Market Abuse Probe Bloomberg
• Fed Weighs Auction for AIG Bonds Wall Street Journal
• SEC Proposes Elimination of References to Credit Ratings Drinker Biddle
• Warren Says Consumer Bureau Foes Should Look at Bank ‘Behemoths’ Bloomberg
• Financial Crisis at the Kitchen Table: Trends in Household Debt and Credit Federal Reserve Bank of New York
• Indian securities watchdog imposes Web rules Finextra
• 8.4 Million Australians to Benefit from More Super Australian Minister for Financial Services and Superannuation
• 2010 Global Structured Finance Rating Transition and Default Study Fitch
• Making OTC Derivatives Safe―A Fresh Look IMF
• ISDA Leads Industry Effort to Establish Commodity Derivatives Trade Repository DerivSource
• Swap-Trade Platforms Spurred by Dodd-Frank Weighed at CBOE, NYSE Bloomberg
• DERIVATIVES: Options desks burnt by yen moves IFR

March 24

• Government Bonds: No Longer a World Without Risk IMF Direct
• Special report: The revolution in central banking Reuters
• Special Report: The ties that bind at the Federal Reserve Reuters
• Basel Said to Consider 3 Percentage Point Surcharge on Big Banks Bloomberg
• Deutsche Bank’s chief hits at plan for extra levies Financial Times
• Basel III and Beyond Basel III Conference 2011, Sydney
• Financial Stability Review Reserve Bank of Australia
• The Myth of Chinese Walls in Finance Kamakura Blog
• Federal Reserve Balance Sheet Rises To $2.605 Trillion Dow Jones
• 2009 Panel Survey of Consumer Finances Federal Reserve Board
• House Financial Services Committee to Mark Up GSE Reform Legislation CCH Federal Securities Law Reporter
• Exclusive: OCC may pursue its own foreclosure pact Reuters
• CFPB To Play Significant Role Under Foreclosure Settlement Proposal Jones Day
• U.S. bank watchdogs face leadership vacuum Reuters
• FDIC's No. 2 a Top Contender to Succeed Bair Wall Street Journal
• Wilkie Farr on the FDIC’s New Liquidation Authority Proposal Securities Law Practice Center
• Security-Based Swap Execution Facilities Sullivan and Cromwell
• Remarks at SIFMA’s Compliance and Legal Society Annual Seminar by Robert Khuzami SEC
• SEC Talks Muni Enforcement Priorities Bond Buyer
• US municipal bonds sales down 44% in 2011 Xinhua
• Judge Rakoff Challenges SEC Practice of Settling Defendants "Neither Admitting nor Denying" Securities Law Prof Blog
• Morgan Stanley's Liquidity Pool Economics of Contempt
• Morgan Stanley’s Deep Secret Now Is Revealed: Jonathan Weil Bloomberg
• Blankfein reviews crisis on the stand Financial Times

March 23

• Stiglitz: A Balanced Debate About Reforming Macroeconomics Huffington Post
• Why Europe’s bailouts are turning to callable capital FT Alphaville
• Yale University finance economist on the growth and collapse of shadow banking Federal Reserve Bank of Minneapolis
• Capital discipline – remarks by Andrew Haldane Bank of England
• From the Libor file FT Alphaville
• Business Plan 2011/12 FSA
• The Federal Government’s Long-Term Fiscal Outlook January 2011 Update GAO
• Just the Facts: The Costs of a Repatriation Tax Holiday U.S. Treasury
• Video: Carnegie Mellon's Meltzer Says U.S. Inflation `Coming' Bloomberg
• The rantings of an ex-maestro FT Alphaville
• Dividend Actions & Markit Estimates for 19 Large Banks Markit
• Banks Must Plan Their Demise Bloomberg Government
• Bernanke: Dodd-Frank Hits Big Banks Harder Wall Street Journal
• Fed Blocks Bank of America Dividend Increase CCH Federal Banking Law Reporter
• Bair: Only safest mortgages will escape risk rule Reuters
• CFTC Gensler: EU Derivative Rules May Not Be Equivalent To US Wall Street Journal
• 4 Wall St. Banks Still Dominate Derivatives Trade NY Times
• Richard Ketchum, Chairman and CEO at the SIFMA Compliance and Legal Division's Annual Seminar FINRA
• Have Consumers Been Deleveraging? Liberty Street Economics
• U.S. Will Call Lloyd Blankfein to Testify at Rajaratnam Trial Bloomberg
• The Muni Minefield The Daily Reckoning
• Video: Lockyer Says California Will `Never Default' on Bonds Bloomberg

March 22

• Why Weaken the Japanese Yen? The Conflicting Claims of Economics PBS
• Svante Öberg: My view of monetary policy 2006–2011 BIS
• UK inflation and interest rates Reuters
• Shadow banks: A real problem for regulators Financial Times
• Satyajit Das: Controlling Sovereign CDS Trading – The Dysfunctional Debate Naked Capitalism
• Deutsche Bank loses swap sales case Financial Times
• Republicans ‘Hard-Pressed’ to Alter Bank Overhaul, Frank Says Bloomberg
• INTERVIEW: As Subpanel Chief, Rep Capito Takes On Dodd-Frank Dow Jones
• FACTBOX-U.S. Treasury's tools to delay hitting debt limit Reuters
• 2010 combined annual comparative financial statements Federal Reserve Banks
• Financial Statements for 2010 and 2009 Federal Reserve Bank of New York
• Fed's Fisher: U.S. debt situation at tipping point Reuters
• Fed’s Court-Ordered Disclosure Shows Americans’ ‘Right to Know’ Bloomberg
• Barclays considers bid for US securities Financial Times
• SEC Issues Final Rule for Standards and Disclosure for Registered Securitizations K&L Gates
• Fund manager warns on covered bonds Financial Times
• Judge Again Questions an S.E.C. Settlement New York Times
• The Dark Underbelly of Finance Project Syndicate
• Stopping next financial crisis a global effort: CFTC Reuters
• CFTC's Gensler: High Commodity Prices Show Need for Market Oversight Wall Street Journal
• A Conspiracy With a Silver Lining New York Times
• Public-Employee Retirements: A Rush for the Exit Barron's

March 21

• High–Level Roundtable: Financial Crisis and Sovereign Risk IMF
• Pension reforms must deliver affordable and adequate benefits OECD
• E.U. Finance Ministers Set Terms for New Bailout Fund New York Times
• Weighing the capital risks IFRE
• Basel Committee may adjust 'blunt' CCP default fund capital Risk.net
• Quarterly Bulletin – 2011 Q1 Bank of England
• Market impact of key events in 2011 Reutes
• Treasury to Begin Orderly Wind Down of Its $142 Billion Mortgage-Backed Securities Portfolio US Treasury
• Quelle Surprise! Geithner Gutting Dodd Frank via Intent to Exempt Foreign Exchange Naked Capitalism
• Geithner to decide on regulation of foreign-exchange swaps Washington Post
• Financial Market Utilities, Dodd-Frank, and JPMorgan Economics of Contempt
• Fed Must Release Bank Loan Data as High Court Rejects Appeal Bloomberg
• New York Fed Reorganizes Bank Supervision for Dodd-Frank Mandate Bloomberg
• The Dangerous Experiment of the Durbin Amendment Cato Institute
• New York Fed Launches Liberty Street Economics Research Blog Federal Reserve Bank of New York
• US deleveraging isn’t just about defaults and charge-offs FT Alphaville
• Fannie and Freddie Probe Faces a Snag Wall Street Journal
• AIG, Fed in Subprime-Bond Standoff Wall Street Journal
• SEC to Muni Market: Tell Us What You Think Bond Buyer
• Unbreakable Bonds New York Times
• Compensation Discussion and Analysis Template CFA Institute
• Private Equity: Regulatory Arbitrage? Citigroup Transactions Services

March 20

• Has Financial Development Made the World Riskier? Raghuram G. Rajan
• The Volatility Machine Michael Pettis
• G7 central banks in rare currency action after yen surge Reuters
• Central Banks to Maintain Pressure on Yen Wall Street Journal
• Lipsky Says Advanced-Nation Debt Risks Future Crisis as Yields Set to Rise Bloomberg
• Netherlands willing to propose Wellink as ECB president Reuters
• Do We Need Big banks? Global Economic Intersection
• US banks face fresh scrutiny on lending Financial Times
• Deconstructing Meredith Whitney’s Municpal Bond Default Predictions The Market Oracle

March 19

• Low interest rates 'are storing up trouble for lenders' The Telegraph
• Is the Treasury undermining QE? The Economist
• Mega-Banks and the Next Financial Crisis Wall Street Journal
• Washington Weekly | March 18, 2011 SIFMA
• A Look Inside the Fed’s Balance Sheet Wall Street Journal
• Bringing Back Best Practices in Risk Management Banks’ Three Lines Of Defense Booz and Co.
• TARP’s Watchdog: A Tough Act to Follow New York Times
• Settling Foreclosure Abuses New York Times
• BarCap ranks mortgage servicers on loss-mitigation speed Housing Wire
• Financial Market Integrity Outlook: 2011 CFA Institute
• A Primer for Investment Trustees CFA Institute
• Factbox: Top budgetary threats to U.S. state, local governments Reuters
• HSBC banks on slow but steady social-media revolution Silicon.com

March 18

• Instant view: G7 to intervene jointly in FX; dollar/yen jumps Reuters
• BCBS and CPSS to issue guidance on foreign exchange settlement risk BIS
• Do we need big banks? Vox
• Asia Focus, March 2011: Prudential Liquidity Standards in Asia Federal Reserve Bank of San Francisco
• Prudential Risk Outlook 2011 FSA
• The EBA publishes details of its stress test scenarios and methodology European Banking Authority
• EU Debt Crisis Won’t End Without Debt Restructuring, Buiter Says Bloomberg
• China continues to trim its US debt to avoid risks The Economic Times
• Geithner: We Need Big Banks To Be Even Bigger Credit Writedowns
• Comprehensive Capital Analysis and Review: Objectives and Overview Federal Reserve Board
• Fed Says Some Banks Can Restart Dividends After Stress Tests Bloomberg
• U.S. closer to scrutinizing key clearinghouses Reuters
• Bloomberg FIT Breaks $1 Trillion in OTC Derivative Volume Bloomberg
• Lack of Leadership Prolongs Mortgage Settlement Talks American Banker
• Standard & Poor’s Triple A Ratings Collapse Again. The Question is Why? Pro Publica
• House Republicans to SEC: Halt fiduciary duty rulemaking Investment News
• Gupta Sues SEC, Says Insider Case Deprives Him of Rights Bloomberg
• As S.E.C. Watches, Secondary Market Seeks Transparency New York Times Dealb%k
• Market Close: Munis Flat as Panic Over Japan Dissipates Bond Buyer

March 17

• Mizuho's ATMs and Web banking knocked out Finextra
• Chart of dollar yen and BOJ intervention Reuters
• Banks served Libor subpoenas Financial Times
• Banks must prepare for restructuring - EU draft conclusions Reuters
• Ireland may be on a collision course with the IMF/EU on the Memorandum of Understanding Nama Wine Lake
• Bernanke in Testimony Can Show Paul How QE2 Works Bloomberg
• Guest Post: Currency Wars: RIP Shadow Banking System, Long Live QEx! ZeroHedge
• How the NY Fed Gifted an Extra $15.7 Million to Wall Street Today Economic Policy Journal
• OCC Reports Fourth Quarter Trading Revenue of $3.5 Billion OCC
• Frank Proposes $2.5 Billion Levy on Largest Banks, Hedge Funds Bloomberg
• US and Europe divisions emerge on derivatives Financial Times
• "Speculators and Commodity Prices" CFTC
• Foreclosure Deal Could Be Delayed New York Times Dealb%k
• Statement From Chairman Schapiro on Independent Consultant Report of SEC Organization and Operations SEC
• State Budget Pain Persists, Especially in West Federal Reserve Bank of San Francisco
• States and cities face more rating cuts: Moody's Reuters

March 16

• IFR-Japan quake may disrupt debt markets for months International Financing Review
• Japan can meet the earthquake test Financial Times
• ECB encourages comments on CPSS-IOSCO consultation on principles for financial market infrastructures ECB
• Risk – banks and government Address by Mr Patrick Honohan, Governor of the Central Bank of Ireland BIS
• Lords Sub-Committee publishes letter to Minister on Credit Default Swaps and Short Selling UK Parliament
• FDIC Seeks Comment on Seeking Pay Clawbacks in Resolutions Bloomberg
• Bankers snort, groan as regulator extols reforms Reuters
• Obama Administration Pushing For Banks To Modify Millions Of Mortgages To Settle Foreclosure Claims Huffington Post
• Proposed Mortgage Fraud Settlement, a Gift to Big Banks New York Times Dealb%k
• Why Wall Street Reform May Already Be Dead CBS Moneywatch
• Watchdog says TARP helps perpetuate "Too big to fail" Reuters
• Chairman Bachus Introduces Bill To Promote Robust Consumer Financial Protection House Financial Services Committee
• Written Testimony of Treasury Special Advisor Elizabeth Warren House Financial Committee
• CFTC Gensler’s Remarks At FIA Boca Raton FuturesMag.com
• Remarks, Implementing the Dodd-Frank Act, FIA’s Annual Conference CFTC
• Markit Publishes Final Index Membership lists for the Markit iTraxx Series 15 Indices Markit
• CFTC to Focus on Swaps Data to Shape Regulations, O’Malia Says Bloomberg
• SIFMA Statement on the State Attorneys’ General Term Sheet for Mortgage Servicers SIFMA
• Covered bond legislation draws criticism Housing Wire
• US Republicans question report on SEC operations Reuters
• SEC's Schapiro Says Agency Will Seek New Powers Over Municipal Issuers Dow Jones
• Fear Trade Bolsters Munis Bond Buyer
• Sorry, Ma & Pa: Smart Money Bought the Munis You Panic Sold Wall Street Journal
• The Street, the City, and the State 2011 SIFMA
• Vermont's pension solution: civility Stateline
• Inside Job director on Geithner, Goldman, and criminal bankers Fortune

March 15

• Basel Committee Agreement on Capital Requirements for Large Institutions ABA Tracker
• MEPs to call for end of 'big three' oligopoly Europolitics
• Moody’s downgrades Portugal to A3 from A1 FT Alphaville
• UBS says faces LIBOR manipulation probe Reuters
• A microeconomic reform success story Parliamentary Secretary to the Treasury
• Panel to suggest ways for better sovereign ratings Financial Express
• Retail Conduct Risk Outlook 2011 FSA
• Broaddus Says Fed Remarks on Commodity Prices `Striking' Bloomberg
• Tax Haven USA Attracts Over $3 Trillion in Foreign Dirty Money Financial Task Force
• Reducing the Deficit: Spending and Revenue Options CBO
• Sen. Schumer to introduce covered bond legislation Housing Wire
• 9 Senators Seek to Delay Debit Card Fee Changes New York Times
• Mortgage bondholders gain key ally in putback fight Reuters
• Corporate governance and the financial crisis OECD

March 14

• Quarterly Review, March 2011 BIS
• The Australian Bond Market in 2011 and Beyond Reserve Bank of Australia
• Trichet Thwarted as Euro Leaders Decline ECB's Bond-Buying Role Bloomberg
• Basel Committee Said to Reach Capital Rules for Largest Banks Bloomberg
• Regulators taking blinkered approach to stress tests Financial Times
• How stress tests make Europe’s bank funding worse FT Alphaville
• EXCLUSIVE-Lawmakers seek probe on CFTC analysis of swap rules Reuters
• Republicans mount first Dodd-Frank challenge Reuters
• Garrett Announces Subcommittee Hearing To Review Proposals That Promote Job Creation House Financial Services Committee
• B-Ds unveil game plans related to muni disclosure Investment News
• Wisconsin Bonds Beat Illinois Debt Suggesting State Not ‘Broke’ Bloomberg
• CFPB Oversight Hearing Scheduled Bank Digest
• “Anonymous” Whistleblower Charges BofA With Large Scale Force Placed Insurance Scheme Naked Capitalism
• Anonymous posts leaked Bank of America e-mails Finextra
• "Operation LeakS" Releases Initial BofA Emails Indicating Premeditated Intent To Deceive Government And Auditors ZeroHedge
• Fannie, Freddie Probe Focuses on Disclosure Wall Street Journal
• Pandit Picks Emerging Markets as Citigroup Future in New Risk Bloomberg

March 13

• Axel A Weber: Lessons learnt – the reform of financial regulation and its implications BIS
• Survey of Regimes for the Protection, Distribution and/or Transfer of Client Assets - Final Report IOSCO
• Policy on the asset side again Deus Ex Macchiato
• What's on ASIC's financial advice radar? ASIC
• A Swift Deal May Not Be a Sound One New York Times
• A Retrospective of the Troubled Asset Relief Program SIGTARP

March 12

• History's lesson is that investment and retail banking must be separate The Telegraph
• The ¥4.3 Trillion Japanese Government Earthquake Liability Cap Zerohedge
• “Legislative Proposals to Create a Covered Bond Market in the United States” Committee on Financial Services
• Shelby Blasts "Global Mortgage Servicing Settlement" Richard Shelby, US Senator from Alabama
• Testimony on Budget and Management of the U.S. Securities and Exchange Commission Robert Khuzami, Director, Division of Enforcement
• Is the Muni Bond Market Really in Dire Straits? Governing
• Ben S Bernanke: Challenges for state and local governments BIS
• SEC should step up scrutiny of Finra: Report Investment News
• Letting No Disaster Go To Waste, SEC Prepares To Let Lehman Executives Walk For Repo 105 Fraud Zerohedge

March 11

• Do we need an International Monetary System? - Speech given by Mervyn King, Governor Bank of England
• Whither Europe after the crisis? - Speech by Lorenzo Bini Smaghi, Member of the Executive Board ECB
• Crisis Is Over, but Where’s the Fix? New York Times
• Goldman Sachs Exec: US Risks Central Banks Diversifying Out Of USD Dow Jones
• China's coming collapse Canadian Business
• How safe is Eurozone sovereign debt? – table The Telegraph
• Irish handbags: Irish Prime Minister Kenny Rejects Merkel’s Bailout Terms Asymptotix
• CPSS-IOSCO principles for financial market infrastructures IOSCO
• Global regulators toughen up trading risk rules Reuters
• Fed Recovery Flawed as Companies Get Credit Consumers Don’t Bloomberg
• Bond King's big debt bet is on the mark, rivals say Reuters
• For Fed's Dudley, iPad comment falls flat in Queens Reuters
• $440 Billion Drop In Shadow And Conventional Banking System Liabilities In Q3 Gives Bernanke Carte Blanche For QE3 Zerohedge
• Analysis: Mortgage settlement proposal likely doomed Reuters
• `Dozen' States Don't Back Foreclosure Plan, Cuccinelli Says Bloomberg
• Banks Pushing Back on Foreclosure Pact Wall Street Journal
• US Fed decision on bank dividends expected in days Reuters
• Fair Value Accounting: SFAS 157 and IAS 39 Asymptotix
• S.E.C. Under Fire New York Times DealB%k
• Fed Flags Spike in Muni Holdings by 'Household' Investors Wall Street Journal
• The Truth About the State Pension Crisis Reason.com
• Statement Related to Offer by AIG to Purchase Maiden Lane II LLC Federal Reserve Bank of New York
• AIG offers $15.7bn to buy back securities from Fed Financial Times
• AIG Offers to Buy Back Bonds Wall Street Journal
• Investment Banking Scorecard - Week Ending March 11, 2011 Thomson-Reuters

March 10

• Hot Money, Fast Riots Caixin Online
• Carry trade as canary in the coalmine FT Alphaville
• Investors should learn from 1994’s rate spikes Financial Times
• Measuring the systemic importance of interconnected banks BIS
• Fed’s Krieger Says Shadow Banking Changes Needed for Stability Bloomberg
• #IOSCO weighs #in on systemic #risk BCM Strategy
• Super-watchdog moves to limit regulatory arbitrage eFinancialNews
• Eurozone credit ratings Reuters
• EU states fail to agree CDS shortselling rules Reuters
• Traders face rise in costs to clear deals Financial Times
• Z1 data release Federal Reserve
• U.S. municipal bond market now at $2.9 trillion-Fed Reuters
• Obama’s nightmare jobs chart Reuters
• Fed Gives Markets Clues on Exit From Unprecedented Easing Bloomberg
• Volcker may get the last laugh Financial News
• Fiscal Limits in Advanced Economies NBER
• CFTC Proposes Rules to Create a Risk Management Framework for Derivatives Clearing Organizations K&L Gates
• Sen. Shelby Takes on Elizabeth Warren Wall Street Journal
• Foreclosure Fraud Settlement: The Empire Strikes Back (or Why Are Republicans So Obsessed with Backdoor Cramdown?) Credit Slips
• Fed Report Finds No Wrongful Foreclosures By Banks, Consumer Advocates Slam Methodology Huffington Post
• The Seductive But Flawed Logic of Principal Reduction The Big Picture
• Testimony on Budget and Management of the U.S. Securities and Exchange Commission SEC
• Chair Fails To Disclose A Conflict In Madoff Matter Investors Business Daily
• Some SEC officials in dark on lawyer's Madoff link Reuters
• Remarks Before the 2011 Investment Adviser Compliance Conference by Commissioner Troy A. Paredes SEC
• Sullivan & Cromwell on Proposed Incentive Based Compensation Rules SEC Law Center
• FASB Extends Tiered Plan to Financial Liabilities Compliance Week
• Rewriting Pension History Wall Street Journal
• JP Morgan Trades CDS With 6 Firms In Spirit Of New Swap Rules Dow Jones

March 9

• A call for a global independent central bank FT Alphaville
• EU summit to take only minor steps on debt crisis Reuters
• Detailed data of the 3 Portuguese bond auctions that have taken place so far in 2011 Asymptotix
• Insurance and Banking: Risk, Resiliency and Harmonisation London Banker
• Statistics - Quarterly Life Insurance Performance - December 2010 APRA
• The where and what of regulatory arbitrage FT Alphaville
• British Fraud Office Arrests Seven in Iceland Bank Inquiry New York Times Dealb%k
• Corporate Credit Default Swaps and Non-Dealer Trading Volume Kamakura Blog
• The Links between CDS Spreads and Default Probabilities Kamakura Blog
• SEC Issues Final Rule Disclosures by Securitizers and Rating Agencies With Respect to Repurchases K&L Gates
• Dodd-Frank’s hatchet men: SEC & others go after incentive-based compensation Reuters
• Republicans question foreclosure settlement proposal Reuters
• 5 GOP Congressmen Take Issue with Geithner on Mortgage Servicing Settlement ABA Tracker
• Dual track no more FT Alphaville
• Bank Chief Rejects Idea of Reducing Home Loans New York Times
• MSRB Publishes 2010 Municipal Bond Fact Book MSRB
• MSRB's 2010 Fact Book MSRB
• The New Big Short: Muni Bonds? Institutional Investor
• Rating Agencies Know of No Analysts That Accepted Gratuities From Issuers Bond Buyer
• Blackstone Goes to Kansas as Turnaround Experts Pitch States Bloomberg

March 8

• HSBC's Major Says Stress in Peripheral Europe Is Rising Bloomberg
• Concerns over latest EU bank stress tests Financial Times
• Basel III - Sweden pushes banks on capital rules Asymptotix
• King helps the case for banking reform Financial Times
• Naked CDS and political nudity – a report FT Alphaville
• Euro parliament votes for Tobin Tax Accountancy Age
• Fed Nominee Diamond: Fed ‘Has Much Work Ahead' On Financial Reform Bond Buyer
• OCC to Fed: Reconsider Interchange Proposal ABA Tracker
• Debit Card Fees Prompt a Push Near Deadline New York Times
• Partnering: The Consumer Financial Protection Bureau and State Attorneys Genera CFPB
• Mortgage Industry To Face Massive Changes Under Regulators' Plan; Homeowners, Investors Better Protected Huffington Post
• 27 page settlement American Banker
• By the Numbers: A Revealing Look at the Mortgage Mod Meltdown ProPublica
• Counties Seek Millions From Mortgage Giant NBC
• Mortgage Proposal Survives No-Action Challenge Riskmetrics
• Remarks before the Institute of International Bankers - Commissioner Jill E. Sommers CFTC
• SEC Issues Proposed Rules Requiring Registration Of Municipal Advisors Katten Muchin Rosenman LLP
• Here's Everything Investors Need To Know About The Municipal Fiscal Crisis Business Insider
• Finra Chief Outlines Muni Enforcement Efforts Dow Jones
• Second Circuit Addresses Materiality Standard Under Federal Securities Law Harvard Law School Forum
• The Year In Bankruptcy: 2010 Jones Day

March 7

• Global Rout Resembling 1994 Seen as Inflation Exceeds Rates Bloomberg
• The Great Hunger Lottery: How banking speculation causes food crises World Development Movement
• BoE governor Mervyn King and the case for reforming Britain's banks QFinance
• MEPs vote for "naked" short-selling restrictions BBC
• Ombudsman's name and shame list a bold step forward The Age
• ASIC consults on FEX licence application ASIC
• Major Foreign Holders of Treasury Securities US Treasury
• A few thoughts on risk, primary dealers and quantitative easing Credit Writedowns
• Comments on FSOC’s Concentration Limit Recommendations Due This Thursday ABA Tracker
• JPMorgan No. 1 in Bond Fees as Record-Low Rates Drive Massive Refinancing Bloomberg
• Reid Responds to Volcker'​s Animus, Fundamental Misunderstanding Cranedata.com
• Fed interest rate policy hurts retirees Investment News
• The attorney generals’ proposed bank settlement Reuters
• Divisions emerge on US foreclosure settlement Financial Times
• Backgrounder: A Closer Look at MERS, the Industry’s Controversial Mortgage Clearinghous ProPublica
• Small Banks Will Drown Under New Dodd-Frank Rules Hartford Courant
• Comments for Core Principles and Other Requirements for Swap Execution Facilities CFTC
• Banks Protest as Servicing Rules Are Set by Regulatory Fiat Bank Investment Banker
• SEC ‘Capacity Gap’ Risks Oversight Lapses as Targets Multiply Bloomberg
• Muni bond regs need an overhaul Investment News
• Brokers probed for entertaining rating firms Reuters
• Broker-Dealer Supervision SEC Law Center
• State Street Announces Collateral Tracking Service ISS-MAG.com

March 6

• Oil, inflation, sovereign debt and revolution BBC
• Bar to be raised for EU bank stress test Financial Times
• Europe's Conservative Leaders Call for Conditions on Bailouts Asymptotix
• Dublin suspends plan on sale of bank loans Financial Times
• QE2: An Unmitigated Disaster? ZeroHedge
• Amounts outstanding of over-the-counter (OTC) derivatives BIS
• Task Force on Unregulated Financial Markets and Products Implementation Report IOSCO
• Hey, S.E.C., That Escape Hatch Is Still Open New York Times
• Wall Street's Secretive 'Expert Networks'? ZeroHedge
• Plan is under way to boost disclosure for muni bonds Investment News
• Opportunity in a Muni Maelstrom New York Times
• Pension Funds Strained, States Look at 401(k) Plans New York Times
• MERS? It May Have Swallowed Your Loan New York Times
• Greenspan: The Costs of Government Activism Economist's View

March 5

• 2011 Giblin Lecture, University of Tasmania, Dr Ken Henry, Treasury Secretary Australian Treasury
• Information Exchange: what would help developing countries now? Tax Research LLP
• Mervyn King is right. If the banks face no risk, we shall all go down The Telegraph
• Gordon Brown's Recessional Stand Point
• UK banks tell BoE's King they have reformed Reuters
• Still Too Big, Still Can't Fail Wall Street Journal
• Mortgage Modification Overhaul Sought by States New York Times
• Lawmakers Pushing Back Against Banks' Foreclosure-Settlement Complaints Huffington Post
• Web Watch: Best of the Week Ending March 4 Compliance Week
• Supply Shortage Outweighs Fund Extractions In Muni Market Dow Jones

March 4

• The global economy is critically ill FT Alphaville
• The new new normal The Economist
• Comparing The Impact Of Prior Oil Crises ZeroHedge
• Head of World's Largest Asset Manager: "Markets Like Totalitarian Governments" Washington's Blog
• Fed Policy Makers Signal Abrupt End to Bond Purchases in June Bloomberg
• BlackRock's Fink Says He's a `Big Buyer' of Dollars That Gross Says Avoid Bloomberg
• Statement of Jason C. Cave, Deputy Director for Complex Financial Institutions Monitoring FDIC
• Still Too Big, Still Can't Fail Wall Street Journal
• Financial Services Committee Votes to End Foreclosure Programs Bank Digest
• Fed Releases Final and Proposed TILA Rules ABA Tracker
• Mortgage writedown proposal advances in probe Reuters
• Banks Face More Loan Write-Downs Wall Street Journal
• Survey Finds ‘Widespread Mis-selling’ by Brokers New York Times Dealb%k
• CFTC, SEC Funds Needed to Prevent Crisis Repeat, Stabenow Says Bloomberg
• CFTC Outlines Expansion To Oversee Swaps Market Dow Jones
• Regulators battle Wall Street for brains, money Reuters
• U.S. covered bond appetite still suppressed Reuters
• Banks delay FX dealing platform Dow Jones
• Fed's Lockhart: State, Muni Debt Problems An Impediment To Growth Dow Jones
• JPMorgan hits back over Madoff trade secrets BobsGuide
• Blankfein Flunks Asset Management as Clark Vows No More Goldman Bloomberg
• David Einhorn Financial Crisis Inquiry Commission Interview Transcript Santangels Review

March 3

• Andy Xie: "Hot Money, Fast Riots" QFinance
• Why debt investors are taking leave of their senses FT Alphaville
• EBA’s Board of Supervisors selected the EBA’s first Executive Director and established its Banking Stakeholder Group EBA
• Banker In Jail For What Could Be 'Germany's Biggest Case Of Corruption' Huffington Post
• Fed Balance Sheet Hits New Record At $2.55 Trillion As Bank Reserves Hit $1.3 Trillion All Time High ZeroHedge
• Monetary Policy Report Shows Obstacles Remain CCH Federal Banking Law Reporter
• Fed needs vigilance on inflation: officials Reuters
• When Even John Taylor Says Bernanke's Interpretation Of The Taylor Rule Is Wrong ZeroHedge
• Obama Signs Stopgap Bond Buyer
• Goldman's Model Evokes Blood-Sucking Leeches: Caroline Baum Bloomberg
• Paul Farrell On The 4 Time Bombs That Would "Ignite A Wall Street Revolution" ZeroHedge
• White House battles to fill jobs Financial Times
• Fed Proposes Risk-Based Pricing Rules CCH Federal Banking Law Reporter
• Is the New York Fed Making a Big Mistake? New York Times
• Why 2010 wasn’t a turnaround year for banking Marketwatch
• Better Banking - The People’s Watchdog CHOICE
• TARP: Actions Needed by Treasury to Address Challenges in Implementing Making Home Affordable Programs GAO
• Treasury Done ‘Very Little’ to Fix Gov’t Foreclosure Prevention Program, Says Watchdog ProPublica
• Opening Statement Regarding Proposal to Remove Credit Rating References from Investment Company Act Rules and Forms SEC
• SEC grapples with task of purging credit ratings from rules for money-market funds Washington Post
• Gensler looks to break up Wall St club Reuters
• Update: Auditors and Consulting: Claims Of No Conflict Strain Credibility re: The Auditors
• Ben S Bernanke: Challenges for state and local governments BIS
• Plan under way to up muni bond disclosure — but will it help? Investment News
• State Budgets Create Virtual Groups Stateside Associates
• Broke Town, U.S.A. New York Times
• Lawmakers Ask SEC To Scale Back Muni Proposal Wall Street Journal
• Gates Calls for 'Clear and Honest' Accounting of State Budgets Wall Street Journal
• BofA, Citigroup Say Mortgage Database Draws Scrutiny in Foreclosure Probe Bloomberg
• As European Banks Pull Out All Stops To Defend Picosecond HFT, Themis Explains "Providing Liquidity" ZeroHedge
• JPMorgan Chase made nearly a billion dollars from Madoff CNBC

March 2

• Should Central Banks Focus On Core Inflation? Credit Writedowns
• Why the Dollar's Reign Is Near an End Wall Street Journal
• China "Attacks The Dollar" - Moves To Further Cement Renminbi Reserve Currency Status ZeroHedge
• The Real Effects of Financial Sector Interventions During Crises IMF
• CoCos May Be Endorsed in Capital Rules for Systemic Banks Bloomberg
• Irish bank bonds — handy haircut hit list FT Aphaville
• European Commission recognises ASIC's auditor oversight ASIC
• Standard deduction for the cost of work-related expenses and the costs of managing tax affairs The Treasury, Australian Government
• EU bank stress tests: what are they for? The Telegraph
• Retail Conduct Risk Outlook 2011 FSA
• Bernanke: Steep budget cuts this year would threaten economy McClatchy
• Fed's Lockhart says Mideast unrest a risk to U.S. Reuters
• Bill Gross Asks The $64,000 Question: "Who Will Buy Treasuries When The Fed Doesn’t?" His Answer: "I Don't Know" ZeroHedge
• Opportunities to Reduce Potential Duplication in Government Programs, Save Tax Dollars, and Enhance Revenue GAO
• Bank Investors Deserve Fuller Picture of Legal Risk Wall Street Journal
• Hedge Funds and Brokers May Face Fresh Demands for Data From U.S. Council Bloomberg
• CFTC panel recommends HFT curbs Finextra
• CFTC Proposes Substantial Amendments To Speculative Position Limits Katten Muchin Rosenman
• SEC Proposes Rule Amendments to Remove Credit Rating References in Investment Company Act Rules and Forms SEC
• SEC Proposes Clearing Agency Standards for Operations and Governance SEC
• SEC Proposes Rules on Disclosure of Incentive-Based Compensation Arrangements at Financial Institutions SEC
• S.E.C. Proposes Crackdown on Wall Street Bonuses New York Times Deal%k
• Skirting Guarantee Hassles Bond Buyer
• Get specific on muni bonds, say Roubini analysts FT Alphaville
• When bonds lose their bid Reuters
• Muni Default Estimate: $100 Billion Marketwatch
• Ex-McKinsey `High Priest' Gupta Linked to Rajaratnam by SEC Insider Case Bloomberg
• A tip too far? The Economist

March 1

• New rules could provoke major bank sector shakeup-BoE Reuters
• Italian Banks Pushing For Mark-To-Market To Benefit From Surging Price Of... Gold ZeroHedge
• UK banks hit by fresh tax protests BobsGuide
• In Advance Of Bernanke's 10:00 AM "Humphrey Hawkins" Testimony ZeroHedge
• Bernanke to tread cautiously before Congress Reuters
• William C Dudley: Prospects for the economy and monetary policy BIS
• Credit Unions Remain Resilient In Tough Times Bank Digest
• Rise in Securities Settlement Failures Shows Some Traders Game System Kauffman Foundation
• Treasury's Ruling on Forex Exemption May Come Soon Wall Street Journal
• Geithner Says There Is “No Guarantee” of Private Sector Support for Housing Finance CCH Federal Banking Law Reporter
• BofA analysts claim GSE reform 'politically infeasible' Housing Wire
• Geithner wants Congress to act on Fannie, Freddie in next two years Housing Wire
• Regulators Cut Deal on Risk Retention, Servicing Standards American Banker
• Sequoia deal bolsters case for RMBS market revival IFR
• Technology Advisory Committee Meeting CFTC
• Electronic trading could solve OTC derivative regulatory headaches Hedge Funds Review
• Senator wants SEC, CFTC funds in budget Reuters
• CFTC Warned Algorithm Rules `Virtually Impossible' to Enforce Bloomberg
• 401(K) PLANS - Improved Regulation Could Better Protect Participants from Conflicts of Interest GAO
• Groups Confront Quagmire in SEC, MSRB Adviser Rules Bond Buyer
• US Rep Bachus Urges SEC To Scale Back Muni Adviser Rules Proposal Dow Jones
• Elizabeth Warren: “Problems Lurking” in Same Banks Tim Geithner Says Are “Much Stronger” Tech Ticker
• Madoff, father of the automated trade FT Alphaville
• SEC Grants Go-Ahead To NYSE, DTCC Clearing Strategy Dow Jones
• Accidental Death Becomes Suicide When Insurers Don't Pay Bloomberg
• Board Member of Goldman Sachs and Procter & Gamble Charged in Insider Trading Scheme SEC
• SEC Says Ex-Goldman Director Gupta Tipped Rajaratnam Bloomberg
• Rajat Gupta: Bigger Than Madoff? CNBC