Editor

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So far Editor has created 62 blog entries.

American Banker: TBTF Is Fading in U.S.’s Rearview Mirror

Commentary by Forum President and CEO Rob Nichols: The facts make clear that, in the U.S., the era of "too big to fail" is fading into the rearview mirror. For the U.S. economy to work its best, we need a vibrant and diverse banking sector that includes large global banks, regional banks and community banks. Banks today are safer, sounder, more secure, transparent, accountable and performing their critical roles in the global economy. Rather than picking winners and losers, we need to support a system that works for everyone.

April 16th, 2014|

Forum Statement on Cyber Information Sharing

“The policy statement issued yesterday by the Justice Department and the Federal Trade Commission (FTC) is a helpful step forward in our nation’s ability to defend the commercial sector against cyber-attacks. Cyber-crime and cyber-terrorism are mounting threats to U.S. business interests in the digital age...The financial sector welcomes the clarity provided by the Justice Department and FTC and looks forward to working with Congress to ensure that businesses and corporations have all the tools and certainty needed to ensure cyber-security.”

April 11th, 2014|

American Action Forum: New Bank Taxes Under Financial Reform Will Raise Borrowing Costs, Hurt Growth

View the full piece by American Action Forum President Doug Holtz-Eakin here. The beleaguered American taxpayer deserves a break. The housing-led financial crisis begat trillions of dollars of red ink. Now the financial regulation reform bill, which is supposed to fix the things that caused the crisis, promises — you guessed it — more red [...]

April 9th, 2014|

New York Fed Study is Flawed, Based on Pre-Dodd-Frank Data

Yesterday, the New York Federal Reserve released a series of research papers, one of which studies whether or not large financial institutions experience a cost of funding advantage compared to their counterparts. It is important to note several deficiencies in the New York Fed’s analysis and conclusions. First and most importantly, the New York Fed’s report focuses on twenty years’ worth of data from 1985 – 2009, which does not take into account all of the legislative, regulatory and industry initiated changes in response to the financial crisis that make the nation’s largest banks safer, stronger, and more secure. For example, bank capital and liquidity are double pre-crisis levels, balance sheets are much more solid, banks have significantly deleveraged and have submitted “living wills” to regulators.

March 26th, 2014|

Bloomberg News: Fed Economist Says Big Bank Borrowing Advantage Increases Risk

By Cheyenne Hopkins and Craig Torres The largest U.S. banks, including JPMorgan Chase & Co. and Citigroup Inc., have been able to borrow more cheaply in bond markets than smaller rivals, in part because of investor perceptions that they were too big to fail, according to a Federal Reserve Bank of New York researcher.  Read more…

March 25th, 2014|

HPS: 29 Of 30 U.S. Banks Pass Fed’s Stress Tests

On March 20th, the Federal Reserve released the results of the 2014 stress tests, of which 29 out of 30 banks passed. This document outlines the results, improvements from prior tests, and the domestic and international economic scenarios the Federal Reserve tested against.

March 21st, 2014|

Wall Street Journal: Camp’s Bank Tax Shows Wall Street Still In Doghouse

By Ryan Tracy WASHINGTON—A senior House Republican is seeking to raise the tax bills of the largest U.S. financial firms as part of a broad proposal to overhaul the tax code, lending momentum to an idea the industry has long opposed.  Read more...

February 26th, 2014|

American Banker: Why the Bank Tax Proposal Matters (Even If It Won’t Pass)

By Victoria Finkle WASHINGTON — Congress is unlikely to pass a big bank tax into law this year, but House Republicans' surprising embrace of the idea suggests it is likely to return later to haunt the industry.  Read more...

February 26th, 2014|

Financial Times: Republican tax plan splits corporate U.S.

By James Politi The top US Republican tax-writer on Wednesday unveiled a far-reaching plan to boost the world’s largest economy through an overhaul of the country’s tax code that lowers rates and slashes popular tax breaks, but the effort split corporate America and faces an uphill battle in Congress.  Read more...

February 26th, 2014|

Bloomberg News: Dozens of Tax Breaks Would End in Republican’s Revamp Plan

By Richard Rubin The top Republican tax-writer in Congress proposed restructuring the U.S. tax code to eliminate dozens of breaks to pay for reductions in the corporate and individual rates.  Read more...

February 26th, 2014|