Edition:
India

Pete Schroeder

U.S. regulatory panel flags nonbank mortgage lenders as potential risk

05 Dec 2019

WASHINGTON A U.S. regulatory panel is recommending increased federal and state oversight of nonbank mortgage lenders and servicers, saying for the first time in a report on Wednesday that their growing presence in the sector may threaten financial stability.

U.S. regulators signal openness to rethinking practices that caused repo market woes

05 Dec 2019

WASHINGTON In a potential win for the banking industry, two top U.S. regulators on Wednesday signaled they may be open to changing supervisory practices that may have contributed towards disruption in the overnight lending markets.

U.S. banking regulators urge 'responsible use' of alternative lending data

04 Dec 2019

WASHINGTON U.S. banking regulators said on Tuesday that lenders must have robust compliance tools in place to ensure "responsible use" of non-traditional sources of financial data to help determine whether a potential customer is credit worthy.

U.S. banking sector profits dip 7.3 percent to $57.4 billion in third-quarter 2019: FDIC

26 Nov 2019

WASHINGTON Profits across U.S. banks dipped by $4.5 billion to $57.4 billion in the third quarter of 2019, as "nonrecurring events" at three large financial institutions drove down sector growth, the Federal Deposit Insurance Corporation reported Tuesday.

U.S. bank regulator further cuts supervision costs for banks

25 Nov 2019

WASHINGTON A leading U.S. bank regulator announced on Monday it was further slashing how much it charges large banks to cover the costs of monitoring them.

Fed says U.S. financial system resilient; flags low rates, 'stablecoin' as risks

16 Nov 2019

WASHINGTON The U.S. Federal Reserve on Friday flagged high levels of corporate debt, the impact of an extended period of low global interest rates, and emerging "stablecoin" cryptocurrency proposals as potential risks to the financial system.

U.S. Fed proposes delaying single counterparty rule for foreign banks

09 Nov 2019

WASHINGTON The U.S. Federal Reserve on Friday proposed delaying a new rule limiting foreign banks' credit exposure to a single counterparty, allowing non-U.S. regulators time to adopt similar regulations which foreign companies could opt to follow instead.

U.S. CFTC orders Wells Fargo to pay $14 million over unfair foreign exchange trade

08 Nov 2019

WASHINGTON The U.S. Commodity Futures Trading Commission ordered Wells Fargo & Co to pay more than $14 million to settle charges it provided "misinformation" when conducting a large foreign exchange trade with a counterparty, the agency said in a statement on Friday.

UPDATE 2-U.S. CFTC orders Wells Fargo to pay $14 mln over unfair foreign exchange trade

08 Nov 2019

WASHINGTON, Nov 8 The U.S. Commodity Futures Trading Commission ordered Wells Fargo & Co to pay more than $14 million to settle charges it provided "misinformation" when conducting a large foreign exchange trade with a counterparty, the agency said in a statement on Friday.

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