During the Crash of 2008, the Federal Deposit Insurance Corporation said it lacked access to need information to evaluate the risk being taken by banks which later either collapsed or needed taxpayer bailouts to stay afloat. Now regulators at the Federal Reserve and Treasury Department have given the FDIC specific, unlimited authority to examine banks. Law Professor Cornelius [...]
Congressional negotiators working out difference between the House and Senate financial reform bills are hammering out compromises right and left. One would permanently (and retroactively to January 2008) move from $100,000 to $250,000 the deposit insurance on individual bank accounts. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and [...]
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Tagged Boston University, BU Law School, Congress, Cornelius Hurley, FDIC, Fed Board of Governors, federal deposit insurance, Federal Deposit Insurance Corp., financial reform bills, House of Represenatives, law school, Morin Center for Banking and Financial Law, Senate
Capitol Hill negotiators from the House and Senate committees dealing with financial regulatory reform are getting down to the details of working out differences between the bills passed in respective chambers, with Democrats holding the majority votes in both. Former Federal Reserve Bank examiner Mark Williams, who teaches finance in the School of Management and [...]
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Posted in Professor Voices
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Tagged Barney Frank, Chrisopher Dodd, Congress, FDIC, Federal Reserve, financial regulatory reform, House of Representatives, Lehman Brothers, Mark Williams, School of Management, Senate, Treasury Department, Uncontrolled Risk
The Federal Deposit Insurance Corp. is proposing that the top 40 U.S. banks — with assets totaling $8.3 trillion — submit “living wills” to show how they could be split off from parent companies and wound down. In parallel with Congressional reform efforts, the FDIC also is proposing that those selling securitiezed assets retain 5% [...]
Under a regulatory reform measure being considered in the Senate, the Federal Reserve may yet retain oversight power over the nati0n’s biggest banks, with states and the FDIC watching over smaller banks. Risk-management expert Mark Williams, author of “Uncontrolled Risk” who teaches finance in the School of Management, thinks it’s too soon to be trusting [...]
January 28, 2010 at 3:21 pm
Seeking to avoid another financial meltdown, the S.E.C. issued new rules requiring money-market funds to hold more liquid assets and pay out less interest. Law Professor Tamar Frankel, a securities law authority, says the new regs are puzzling in that they’ll only diminish returns on such funds that investors know such are not FDIC insured. “Perhaps the time [...]
July 31, 2009 at 11:34 am
Federal regulators reportedly have ratcheted up significantly the number of “memorandums of understanding” probation notices sent to troubled banks this year. The notices can force banks to shore up capital reserves or change management. School of Law Professor Cornelius Hurley, a former counsel to the Federal Reserve Board of Governors and now director of the Morin [...]
July 16, 2009 at 11:43 am
Bailed out Bank of American reportedly is under a secret regulatory sanction — a memorandum of understanding — to overhaul its board and address risk and liquidity problems. Six of its 16 directors have resigned since the sanction was imposed. School of Management Professor James Post, an authority on corporate governance, says BofA should have [...]
June 25, 2009 at 10:30 am
Fed Chairman Bernanke told Congress today the Fed did not threaten action against the Bank of America if last fall’s negotiations leading to BofA’s take over of Merrill Lynch had failed. This amid reports the Fed kept other regulators out of the loop during the merger talks and that regulators secretly tightened their grip on [...]
President Obama’s sweeping financial regulatory reform package now heads to Congress for more than a dozen committee hearings and an avalanche of lobbying by those whose ox could be gored. Risk-management expert Mark T. Williams, a former Federal Reserve bank examiner who teaches finance in the School of Management, can discuss the players and the [...]
