Tagged: Federal Reserve

Bernanke: No pressure on BofA/Merrill deal

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 […]

Regulatory overhaul now to Congress

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 […]

Obama’s financial regulatory reform

In an effort to curb the risk-taking that triggered the global financial crisis, the Obama administration today unveils its sweeping plan to overhaul U.S. financial regulations.  School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Federal Reserve Board of Governors, can discuss […]

Banks: Regulation plan just proposals

The banking industry is taking a wait-and-see attitude about reports about the Obama administration’s proposals to overhaul the regulation of financial services.  The plans will be formally announced Wednesday.  Robert Bench, a former deputy Comptroller of the Currency now a senior fellow at the School of Law’s Morin Center for Banking and Financial Law, can […]

Slowing financial regulatory reform

Reports say the Obama administration is cooling on the idea of seeking a swift, major reduction in the regulatory agencies overseeing the financial system.   Former Deputy Comptroller of the Currency Robert Bench, now senior fellow at the School of Law’s Morin Center for Banking and Financial Law, says it’s smarter to set priorities.  “This is absolutely […]

FDIC pushing shake-up at Citi

The FDIC is reportedly urging a major shift in Citigroup’s executive lineup, including moving CEO Pandit to get more commercial-banking experience at the top of the bailed-out former investment firm.  Citi’s other regulators (the Fed and OCC) may not agree.  School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial […]

Single bank regulator eyed

The Obama administration is reportedly close to recommending creation of a single agency to regulate banking  as a keystone to an overhaul of the entire financial regulatory system.  From the School of Law ‘s Morin Center for Banking and Financial Law both Professor Cornelius Hurley, a former Federal Reserve counsel, and Robert Bench, former deputy Comptroller of […]

“Stress Tests” Point to Next Steps

With the release of results from the government’s “stress tests” on the nation’s largest financial institutes, 10 major banks must raise nearly $75 billion in capital.  Former Fed bank examiner Mark T. Williams, who teaches at the School of Management, says, “The race is on now: Whoever gets to market first and has the most […]

After the “Stress Tests”

Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, looks beyond the banking “stress tests” to lessons learned. “Assuming the stress tests produced ‘material’ findings for the bank regulators (BofA’s $34 billion capital deficiency seems to be ‘material’) doesn’t this say […]

Stress tests: Eliminating a “systemic uncertainty”

Former deputy Comtroller of the Currency Robert R. Bench, now senior fellow at the School of Law’s Morin Center for Banking and Financial Law, says the Fed’s “stress tests” on the nation’s largest banks will help clarify the murky state of the industry. “The very good news with these stress-test results is that policymakers have […]