February Senate commentary

From Riski

Contents 1 February Senate commentary 1.1 February 28 1.2 February 27 1.3 February 26 1.4 February 25 1.5 February 24 1.6 February 23 1.7 February 22 1.8 February 21 1.9 February 20 1.10 February 19 1.11 February 18 1.12 February 17 1.13 February 16 1.14 February 15 1.15 February 14 1.16 February 13 1.17 February 12 1.18 February 11 1.19 February 10 1.20 February 9 1.21 February 8 1.22 February 7 1.23 February 6 1.24 February 5 1.25 February 4 1.26 February 3 1.27 February 2 1.28 February 1

February Senate commentary

• Dodd-Frank Act CFTC
• Dodd-Frank Act Regulatory Reform Rules Federal Reserve Bank of St. Louis
• Regulatory Action Database - Dodd-Frank Act SIFMA
• TheCorporateCounsel.net Blog

February 28

• Impact of incoming Basel Rules on Banks Basel Committee on Banking Supervision
• Quantitative Easing and the Yield on the 10 Year Gilt Asymptotix and QFINANCE
• APRA clarifies implementation of global liquidity standards in Australia APRA
• A comprehensive solution for the euro crisis VOX.eu
• Dollar’s haven status hangs in the balance Financial Times
• Is "too big to fail" too big for Dodd-Frank? Reuters
• FDIC's Bair sees bank structural changes Reuters
• Special Report: In derivatives trade, RIP OTC? Reuters
• Reining in the regulator; Has the CFTC gone too far? IFR
• OTC derivative trade flows post the Dodd-Frank Act Headstrong
• Citibank Agrees to Withdraw From MBIA Restructuring Suits Bloomberg
• US GAAP 2011 Standard Taxonomies SEC
• Interview with MSRB executive director Lynnette Hotchkiss Bond Dealers of America
• Muni market faces tough test in US Financial Times
• Pension Funds Strapped, States Look at 401(k)s New York Times
• States in crisis Washington Post
• Bankruptcy's Bright Side Bond Buyer
• No Smoke Without Mirrors -- Disinformation About the Consumer Financial Protection Bureau Huffington Post
• FIXwiki FIX Protocol
• MarketsReformWiki to be Launched in February John J. Lothian & Company, Inc.
• Oscar Spotlight Puts Wall Street Under Harsh Light New York Times

February 27

• Five Questions for Bernanke on Capitol Hill: Caroline Baum Bloomberg
• The Ten Most Systemically Risky Financial Firms in the US Credit Writedowns
• Downgrading expectations The Economist
• A Corporate Sleuth Tries the Credit Rating Field New York Times
• BlackRock sees muni glass as half full Investment News
• Sounding the alarm on muni funds with heavy non-rated-bond weightings Investment News
• Hazen on Broker's Fiduciary Duties Securities Law Prof Blog

February 26

• The international monetary system: If it ain’t broke, don’t fix it Vox.eu
• Draghi Says ECB's Exit Strategy Timing Affected by Inflationary Pressures Bloomberg
• Overreliance on Credit Ratings - ECB Comments Finance Observer
• Geithner’s Gamble Project Syndicate
• Basel III and IFS 9 RBS
• BASEL III: Long-Term Impact on Economic Performance and Fluctuations Federal Reserve Bank of New York
• Albert Edwards On The Resurgence Of The "Conspiracy Of Optimism" As Groupthink Is Back To Record Levels ZeroHedge
• So Many Regulations, So Little Time Wall Street Journal
• Biggest Fish Face Little Risk of Being Caught New York Times
• Will banksters get away with it? Al Jazeera

February 25

• Guest Post: So is Everyone Printing Money? (Short And Sweet) Zerohedge
• Why Europe Needs Automatic Haircuts Project Syndicate
• Mitigating Systemic Risk A Role for Securities Regulators IOSCO
• ICFR Meeting Calls for Increased Consistency of Supervisory Data Collection, Global Coordination A-Team Insight
• Government Introduces Legislation to Give More Power to Shareholders on Executive Remuneration Parliamentary Secretary to the Treasurer, the Hon David Bradbury MP
• Looking at the story wrong.. Corner Turned
• U.S. Economy Expands 2.8% in Fourth Quarter, Revised From 3.2% Bloomberg
• USA, incorporated and indebted FT Alphaville
• Fed officials play down oil price risks Reuters
• Fed's Dr. No Targets Big Banks Wall Street Journal
• Geithner Seeks to Broaden U.S. Corporate Tax Overhaul Debate Bloomberg
• Federal Reserve Balance Sheet Update: Excess Reserves Surge, Fed Owns 37% More Treasurys Than China ZeroHedge
• James Bullard and QE2 – oil price update FT Alphaville
• MONEY MARKETS-GC rates rise in U.S. repo market as supply grows Reuters
• "Prudential Stress Testing in Theory and Practice: Comments on 'Stressed Out: Macroprudential Principles for Stress Testing'" Federal Reserve Bank of Richmond
• Davidoff on TBTF Economics of Contempt
• Exploring Title VII of the Dodd-Frank Act & the Impact on Margin Posed by End Users DerivSource
• SEC to Reexamine Proposal on Clearing Voting Curbs Reuters
• SEF or OTF: A comparison of swaps trading reform in the US and Europe Kevin on the Street
• SEC market-abuse chief takes trader-based approach Reuters
• Rating agencies: SEC rule a hindrance to ABS market Reuters
• U.S. SEC investigates Citi's subprime business Reuters
• Murky markup rule may get murkier Investment News
• Regulator Stands In Way Of Potential Multi-Billion Dollar Mortgage Settlement Huffington Post
• Is Brian Moynihan The Latest Entrant In The 10(b)-5 Fraud Club After Misrepresenting Foreclosure Halt Charges? ZeroHedge
• 3 Banks Warn of Big Penalties in Mortgage Inquiries Reuters
• The Fund Industry: How Your Money is Managed Harvard Law School Forum
• Special Report -The biggest company you never heard of Reuters

February 24

• Limits of Floating Exchange Rates: the Role of Foreign Currency Debt and Import Structure IMF
• Swiss central bank discord provides a warning bell Financial Times
• Regulatory Implementation of the Statement of Principles Regarding the Activities of Credit Rating Agencies IOSCO
• CONSULTATION PAPER 147 Hedge funds: Improving disclosure for retail investors ASIC
• ECB warns on high-speed trading Financial Times
• Moody's: U.S. Faces Ratings Cut if Debt-Limit Spat Worsens Wall Street Journal
• Fed's Bullard: "Natural" to debate completing QE2 Reuters
• St. Louis Fed’s Bullard Discusses Quantitative Easing, Global Inflation, and Commodity Standards Federal ReserveBank of St. Louis
• Quantitative Easing and America’s Economic Rebound Project Syndicate
• Geithner Butt of Jokes No More as Money Man Now on Top Bloomberg
• US Consumer Bureau's Warren: Enforcement Will Be Key Dow Jones
• Treasury makes adjustments to give HAMP a chance Housing Wire
• Foreclosure deal slowed by infighting: sources Reuters
• Statement on Support of the Dodd-Frank Rulemaking of Chairman Gary Gensler CFTC
• Fears over CFTC derivatives rule Financial Times
• Prepare For A Trading Revolution: Here Come CDS For Retail Investors ZeroHedge
• Crisis Testimony of Former Moody’s Executive Proves Vague New York Times DealB%k
• MSRB Deputy Executive Director, Hal Johnson, Leaves MSRB MSRB
• A risk management review of Citi, revealed FT Alphaville
• An Antidote for the Corporate Poison Pill Wall Street Journal
• Investors sharpen tactics in mortgage bond lawsuits Westlaw News and Insight

February 23

• ESMA nominates Verena Ross Executive Director ESMA
• BASEL III: Long-term impact on economic performance and fluctuations BIS
• ECB Not To Issue Public Credit Ratings RTT News
• Deutsche Bank Banned From Derivatives Trading in South Korea Bloomberg
• Ireland needs help with its debt Financial Times
• British banks ran 'deeply costly' strategy to lure top staff to London before crash, says U.S. Treasury Secretary The Daily Mail
• Financial Highlights Federal Reserve Bank of Atlanta
• Diplomacy by US Treasuries FT Alphaville
• Geithner Says World in Better Position to Handle Oil-Price Jump Bloomberg
• Audio interview: U.S. Treasury Secretary Timothy Geithner speaking with reporters Bloomberg
• Fed's Hoenig: Big banks too risky, rates too low Reuters
• Fed's Hoenig Says U.S. Should Break Up Largest Financial Firms Bloomberg
• Andrew Haldane and Big Banks' Capital Cushions Economics of Contempt
• Too Big to Fail Quandary New York Times Dealb%k
• Banks Are Back: $21.7 Billion In Fourth Quarter Profits, $87.5 Billion For 2010 Financial Fraud Law
• Obama Proposal Seeks Multibillion-Dollar Settlement of Loan-Servicing Cases Wall Street Journal
• FINRA's 2010 TRACE Fact Book FINRA
• Private-Share Trade Is Probed Wall Street Journal
• MSRB Comments on Proposed SEC Final Municipal Advisor Registration Rules MSRB
• Video: Kurtter Says `More Defaults' Possible for U.S. States Bloomberg
• Banks Urged to Reassess Holdings of Muni Bonds Bond Buyer
• Taibbi: Why Wall Street Isn't In Jail - Video Interview Jesse's Cafe
• Illinois pension bond sale – not a disaster FT Alphaville
• Cuomo Pares Authority of Proposed Financial Regulator Wall Street Journal
• How Wall Street and Wisconsin Officials Blew Up the State’s Pension Fund bnet
• Bank of America Sued by Investors Seeking to Unload Loans Bloomberg

February 22

• Report to the Congress DEBT LIMIT Delays Create Debt Management Challenges and Increase Uncertainty in the Treasury Market GAO
• Is the modern central bank in need of reform? The Economist
• Experts: U.S. Fed Mishandled International Dimensions Of QE2 Wall Street Journal
• US housing double-dip, continued, again FT Alphaville
• Chairman Bachus Announces Planned Committee Schedule for March Committee on Financial Services
• GOP Bill Takes Aim at Pension Disclosures Wall Street Journal
• Bill Summary & Status 112th Congress (2011 - 2012) H.R.567 US Congress
• MSRB Notice 2011-16: Request for Comment on Gifts and Gratuities Rule for Municipal Advisors MSRB
• LCH.Clearnet's SwapClear Futures Commission Merchant Service Set to Go Live for U.S. Customers LCH.Clearnet
• Credit Suisse banker arrested in U.S.: report Reuters

February 21

• Europe’s reforms may come at a high price Financial Times
• Bundesbank warns against using EFSF to buy debt Reuters
• ECB Emergency Overnight Borrowings Near Record For Third Day In A Row ZeroHedge
• Stark:ECB Overnight Lending Spike One-Off,Due To Irish Events imarketnews.com
• EU to Reveal Bank Stress Test Methodology on March 2 Reuters
• Spain's Cajas Have $137 Billion of `Problematic' Assets, Central Bank Says Bloomberg
• UK banks 'may be forced to publish tax breakdown' BobsGuide
• Four Questions for Ben Bernanke on His Global Saving Glut Hypothesis Macro and Other Market Musings
• Better Macroprudential Data to Aid Financial Stability Requires a Global “Data Accord” Between Banks and Official Sector ICFR
• Recent developments in securitisation European Central Bank
• Reserve status is difficult to maintain Financial Times
• CFTC Proposes Rules on Swap Execution Facilities Pursuant to Sections 723 and 733 of the Dodd-Frank Act K&L Gates
• DOL Delays New Disclosure Requirements for Plan Service Providers K&L Gates
• The Financial Reform Act: SEC Adopts Final Say-on-Golden Parachute Rules - Practical Advice Perkins Coie LLP
• Insider-trading scandal costs 3 hedge funds a combined $9 billion Pensions and Investments
• Blankfein details Goldman Sachs view of the AIG collapse Housing Wire
• Mark-to-market accounting helps companies shift pension plan losses Pension and Investments Online

February 20

• The rough politics of European adjustment Asymptotix
• Warning over discriminatory EU ‘bail-in’ plans Financial Times

February 19

• Bernanke Blames the Global Financial Crisis on China Naked Capitalism
• G20 finmin outcomes in Paris BCM Strategy
• Progress in the Implementation of the G20 Recommendations for Strengthening Financial Stability Financial Stability Board
• G20 strikes compromise on global imbalances Financial Times
• G-20 Deal Reached, but Outcome Open to Interpretation Wall Street Journal
• Financial Stability Board reports to G20 on progress in implementing global financial reforms Financial Stability Board
• EU Stress Tests Likely To Keep Trading,Banking Books Distinct imarketnews.com
• Ireland behind €16bn spike in ECB lending Financial Times
• Obama Lawyers Say Ruling on Fed Loan Disclosure Should Stand Bloomberg

February 18

• Video: Ruskin Calls Food Inflation `Vexing' Problem for G-20 Bloomberg
• Chinese stance throws G20 indicator deal into doubt Reuters
• G-20’s OTC Derivatives Plan May Cut Competition Among Platforms Bloomberg
• IOSCO supportive of switch from OTC to exchange-based trading Finextra
• IOSCO identifies benefits of organised platform derivatives trading IOSCO
• ECB borrowing spike intensifies bank speculation Reuters
• MLF theory. Corner Turned
• Global Imbalances: Links to Economic and Financial Stability Chairman Bernanke at the Banque de France
• As ECB Frets About A Rate Hike, Bernanke Defends Easy Money Policy, Blames China ZeroHedge
• Bernanke: Don't blame easy money for capital swings Reuters
• International Reform of Financial Regulation: Overview and implementation timetable Linklaters
• US 2011 Inflation: 10.6%? ZeroHedge
• Investment Banking Scorecard - Week Ending February 18, 2011 Thomson Reuters
• Ex-Fed man appointed to UK regulatory panel BobsGuide
• Hedge funds may pose risk, report claims BobsGuide
• Bill to Block SIPC Recoveries from Investors Introduced Bank Digest
• Basel May Be Blocked By Ratings Ban, Says OCC EMII.com
• "Flash crash" panel calls for market overhaul Reuters
• Flash crash panel calls for HFT curbs Finextra
• Kwak Says Tighter Rules on Derivatives a `Tricky Issue' Bloomberg
• ISDA Comments on Report Issued by the International Organisation of Securities Commissions (IOSCO) ISDA
• SEC probing mutual funds' muni pricing: report Reuters
• SEC Examining Muni Funds, From 'Soup to Nuts’ Bond Buyer
• Sean McKessy Rejoins SEC as Head of New Whistleblower Office Securities Docket
• TD Ameritrade takes on exchanges over market data Reuters
• Mortgage-backed securities 'turning profits once more' BobsGuide
• CFTC Standards May Make Dealers Avoid Some Swaps, Groups Warn Bond Buyer
• MERS Knew of Their Own Foreclosure Defects in 2006 Ritzholtz
• One Step Closer To The End: MERS Corporate Secretary Demoted ZeroHedge
• Insurers: Bankers Tricked Us Bond Buyer
• Exploring the Role Delaware Plays as a Domestic Tax Haven Harvard Law School Forum
• JPMorgan Says Lehman Left It ‘Goat Poo’ Collateral Bloomberg

February 17

• G-20 Ministers Squabble Over Measures to Spot Imbalances Bloomberg
• A more complicated game The Economist
• Paddy Meet Ponzi: Irish Banks Lend Billions To Each Other For Use As ECB Collateral ZeroHedge
• China tells banks to be cautious in using external credit ratings Xinhua
• Special report: China flexed its muscles using U.S. Treasuries Reuters
• Can biology explain the global credit crunch? BBC
• A market to capture Financial Times
• Banks Find Loophole on Capital Rule Wall Street Journal
• Another bank non-call, an entirely new reaction FT Alphaville
• Fed Chief Says U.S. Bolstered Its Ability to Handle Failure of a Big Bank New York Times
• Fed Tells U.S. Banks to Test Capital For Recession Scenario Bloomberg
• Regulators to Hit Largest Mortgage Servicers with Enforcement Orders; Fines Likely American Banker
• Hedge Funds May Pose Systemic Risk in Crisis, U.S. Report Says Bloomberg
• Youtube channel Senate Banking Committee
• Bank Regulators Concerned About Credit-Ratings Ban Dow Jones
• Republicans employ new tactic to slow Dodd-Frank Reuters
• Tensions flare on spending bill Politico
• Congress May Slow ‘Swipe’ Fee Cap Amid Concerns By Regulators Bloomberg
• Is the SEC outmatched, or just “inefficient”? Footnoted.org
• Banks To Be Among Winners Of OTC Derivatives Overhaul - Report Dow Jones
• SEC and CFTC Propose New Forms to Gather Data on Systemic Risk Potentially Presented by Private Funds K&L Gates
• Companies Prod SEC on Whistleblower Proposal Wall Street Journal
• Warren to Tap Former Credit Agency CEO for U.S. Consumer Bureau Bloomberg
• MERS tells members not to foreclose in its name FT Alphaville
• Looks Like Banks Lose on Risk Plea New York Times
• Loan Mod Program Left Homeowner’s Fate in Hands of Dysfunctional Industry ProPublica
• Downgrades loom for US states Financial Times
• Banks make changes to algorithmic trading processes, TABB Group claims BobsGuide
• How Goldman Killed A.I.G. New York Times
• MBIA’s volatile credit protection Reuters

February 16

• Analysis: Central bank demand to buoy commodity currencies Reuters
• Guest Post: The $500 Billion Dollar Bailout That You Never Heard About ZeroHedge
• Financial Stability Oversight Council Issues Proposal on Oversight of Nonbank Financial Companies K&L Gates
• Regulators to Hit Largest Mortgage Servicers with Enforcement Orders; Fines Likely American Banker
• OTS Guides on Mapping Thrift Financial Report Line Items to the Call Report Bank Digest
• FHFA Posts Discussion Documents on Mortgage Servicing Compensation Initiative Bank Digest
• Deceptive Lobbying on Derivatives New York Times
• Majority of Firms Have Put Counterparty Data Projects on Hold, Pending the OFR’s LEI A-Team Group
• Barclays starts electronic CDS trading Credit Lime
• Commodity Futures Trading Commission Proposes Position Limits For Commodity Derivatives Fried Frank
• Swap trading venues may miss deadline-regulator Reuters
• Mortgage Applications Plunge: Composite Down 9.5%, Refinance Index Down 11.4%, Lowest Since July 2009 ZeroHedge
• Muni Adviser Rule’s Scope at Issue Bond Buyer
• Cutting out the muni middle man FT Alphaville
• The muni loan market emerges Reuters
• Nine things the SEC is requesting from advisers on social media Investment News
• Crisis commission shows more division before House Housing Wire
• Bond Insurers Urge Review Of Mortgage-Backed Securities Dow Jones
• MBIA rally continues as CEO Brown testifies against RMBS sponsors Credit Flux
• Testimony of Joseph W. Brown, Chief Executive Officer MBIA, Inc.
• MBIA Risk Plunges On CDS Commutation Speculation, And Is There More In Store ZeroHedge
• Cuomo’s Deep Reach Into Regulatory Territory Could Provoke Clash in Albany New York Times
• DTCC To Launch Service To Automate Matching Of Broker-To-Broker Trades ISS-Mag.com

February 15

• The transmission channels between the financial and real sectors: a critical survey of the literature Basel Committee
• Eurozone finance ministers agree to €500bn bailout fund BobsGuide
• Good books, bad books at the banks FT Alphaville
• Global Demand for U.S. Assets Declined in December Bloomberg
• Top holders of US debt ZeroHedge
• Treasury dealers build up algo trading technology Reuters
• Analysis: Bond market to Fed: you're wrong about inflation Reuters
• How Higher Interest Rates Could Trigger Another 2008-Type Event ZeroHedge
• Daniel K. Tarullo, Governor, before the Committee on Financial Service Federal Reserve
• Testimony of Chairman Gary Gensler before the House Committee on Financial Services CFTC
• Business Study Says Derivatives Regulations Could Cost Jobs & Push Hedging Offshore CCH Federal Securities Law Reporter
• SEC and CFTC on User Fees, Data Utilities and Obama’s Recent Budget Request A-Team
• CFTC and SEC to increase budgets through user fees Finextra
• CFTC Adopts Position Limit Proposal at Ninth Open Meeting Implementing Dodd-Frank Fulbright & Jaworski LLP
• SEC Proposes Rule Amendments To Remove Credit Ratings References Ballard Spahr LLP
• Not the time to meddle with money market funds Financial Times
• JPMorgan to slash trading platforms Financial Times
• MSRB Makes Additional Continuing Disclosure Information Available to the Public MSRB
• FACTBOX-Municipal bond issuers with widest credit spreads Reuters
• Regulators and hedge funds in muniland FT Alphaville
• JPMorgan, With a Nod to Meredith Whitney, Calls Muni Holdings Diversified Bloomberg
• Munis perk up as Illinois debt-deal hopes rise Reuters
• The Impact of Pensions On State Borrowing Costs The Center for State and Local Government Excellence
• From Prison, Madoff Says Banks ‘Had to Know’ of Fraud New York Times

February 14

• What Ireland’s secret liquidity costs FT Alphaville
• ‘Arrogant’ London Bankers Learn to Lobby Brussels as Power Moves Bloomberg
• Credit Suisse launches $6.2bn CoCos offer Financial Times
• Banks face ratings downgrade in Moody's review Reuters
• U.S. Bankers Ask Fed to Reveal Criteria of Annual Stress Tests Bloomberg
• A Cheat Sheet for Obama’s Budget Wall Street Journal
• Dodd-Frank Hearing Lineup for the Week ABA Dodd-Frank Tracker
• Budget proposal only a temporary fix: S&P Reuters
• Geithner Quietly Tells Obama Debt Expense to Increase to Record Bloomberg
• CFPB To Add Over 800 Staff, More Than Double Expenses in 2012 ABA Dpdd-Frank Tracker
• User fees and CFTC funding FT Alphaville
• Dodd-Frank May Cost $6.5 Billion and 5,000 Workers Bloomberg
• Vanishing Act: ‘Advisers’ Seek Distance From a Report New York Time Dealb%k
• Obama proposes $300M in increased SEC funding Investment News
• CFTC, SEC Get Funding Increases for Dodd-Frank Work Wall Street Journal
• SEC said to ‘sweep' advisory firms for social-media info Investment News
• CME Group Signs Term Sheet With Global Dealers for OTC Interest Rate Swaps Clearing DerivSource
• Judge Finds MERS Has No Right To Transfer Mortgages ZeroHedge
• ABA Principles Included in Administration’s GSE Reform Proposal ABA Tracker
• Housing Crash Is Hitting Cities Once Thought to Be Stable New York Times
• Finally! Empirical Evidence About How the Foreclosure Crisis is Impacting the Recovery Rortybomb
• SEC makes muni bond disclosure a ‘top priority’ Financial Times
• Obama's BABs bid a boon for U.S., muni bonds Reuters
• Pension Bill Irks Experts Bond Buyer
• MSRB Seeks Comment on Draft Municipal Advisor Fiduciary Duty Rule and Fair-Dealing Interpretations MSRB
• State Bankruptcy Proposal Criticized by Both Parties at Hearing Bloomberg
• The Pecora Commission: Déjà Vu? Financial Task Force

February 13

• Modern Monetary Theory Part II: Money and The Limits of Empire Jesse's Cafe
• Silver in Backwardation and the Emperor, Once Again, Nearly Naked Jesse's Cafe
• GOP to Block Renewal of Build America Bonds Program Wall Street Journal
• The Performance Disclosures of Credit Rating Agencies: Are They Effective Reputational Sanctions? Securities Law Prof Blog
• Mutual Recognition in International Finance Pierre-Hugues Verdier, University of Virginia - School of Law
• In Re FERREL L. AGARD | MERS "Process Does Not Comply with the Law" ZeroHedge
• Investors fear muni defaults, job losses: Reuters poll Reuters
• At Last, Bernie Madoff Gives Back New York Times
• SEC Releases Study On Fiduciary Standard For Broker-Dealers Morrison & Foerster LLP

February 12

• G-20 to Address Hot Money Wall Street Journal
• Interpretive issues with respect to the revisions to the market risk framework Basel Committee
• Price Verification of Structured Finance Products and Regulatory Approaches to Liquidity Risk Management IOSCO
• Greece slams EU, IMF officials after inspection visit Reuters
• Guest Post: Western Banks Pushing Out Hawks ZeroHedge
• US default risk is 0.05 per cent, Moody's says FT Alphaville
• Fed's Losses Since The Start Of QE2: $76,814,152,246.00 ZeroHedge
• Modern Monetary Theory: The Sophistry of the US Dollar Jesse's Cafe
• Barclays to link bonuses to capital ratio - reports Reuters
• U.S. Mortgage Finance Overhaul May Create New Winners, Losers Bloomberg
• Imagining Life Without Fannie and Freddie New York Times
• Wall Street Can't Kick Its Government Housing Habit Wall Street Journal
• Fed's Sarah Raskin warns on mortgage servicing Reuters
• Religion, Not Money, Often Motivates Corporate Whistleblowers CNBC

February 11

• Central Bank Lessons from the Global Crisis Stanley Fischer, Governor, Bank of Israel
• Mervyn King: From Bagehot to Basel, and Back Again London Banker
• TAKE-A-LOOK-Policymakers turn their fire on inflation Reuters
• Regulating financial services for sustainable growth European Commission
• Revisions to the Basel II market risk framework - updated as of 31 December 2010 BIS
• World’s best bank (2006 vintage) FT Alphaville
• Axel Weber to Leave Bundesbank, Throws ECB Race Open Bloomberg
• Has the Fed’s exit strategy been Basel-ed? FT Alphaville
• FDIC Approves Final Rule Of Assessments, Dividends, Assessment Base And Large Bank Pricing Morrison & Foerster LLP
• State of the Banking Industry — Winter 2011 Larry McDonald
• Reforming America's Housing Finance Market a Report to Congress US Treasury and Department of Housing & Urban Development
• Putting the Low Road Behind Us Federal Reserve Governor Sarah Bloom Raskin
• Obama Calls For End Of Fannie Mae, Freddie Mac Huffington Post
• Obama Administration Calls for Ending Fannie, Freddie Bloomberg
• US Adm Offl: Still Committd To Backstop Fannie,Fred Obligatns imarketnews.com
• On the Treasury Department’s GSE Report, Privatization and Hybrid Models Rortybomb
• Lockhart Says Dissolving Freddie, Fannie Is Realistic Bloomberg
• Hill leaders want federal insurance jobs filled Reuters
• FDIC Announces Senior Leadership for the Office of Complex Financial Institutions and Division of Consumer Protection FDIC
• First CDS traded and cleared under Dodd-Frank rules Financial Times
• SEC Proposes New Rules For Documentation of Over-the-Counter Derivatives Transactions Proskauer's Finance Practice Group
• Bill Would Revive BABs for Two Years Bond Buyer
• SEC Muni Adviser Proposal Raises Issuer Concerns Dow Jones
• Further Circumstantial Evidence Of Pervasive Insider Trading By SAC? ZeroHedge
• NYSE-Deutsche Boerse Merger Is Free With Derivatives: Real M&A Bloomberg
• Investment Banking Scorecard - Week Ending February 11, 2011 Thomson Reuters
• Audio interviews Financial Crisis Inquiry Commission
• Bernanke's 2009 Interview Withheld by Crisis Panel Bloomberg
• Thain Says He Should've `Grabbed, Shaken' Paulson to Aid Lehman Bloomberg

February 10

• Reforming the International Monetary System IMF
• ECB's Stark: Can't Insure Fin System Against All Risks imarketnews.com
• IFR: Liquidity Rules Keep Senior Bank Bonds Short Reuters
• FSA and Bank of England announce new draft code of practice for auditors and supervisors FSA and Bank of England
• Bernanke Makes Sure Fed Reminds Congress Deficit Bigger Than QE2 Bloomberg
• Sack Speak ZeroHedge
• Repo Runs Alea
• Risk - Discombobulated Expect[ed] Loss
• Kevin Warsh to leave Federal Reserve board Washington Post
• Fed gives banks 2 years to comply with the Volcker Rule Housing Wire
• U.S. Regulators Struggle to Keep Up With Dodd-Frank Bloomberg
• Questioning Goldman’s “Market Making” Defense Naked Capitalism
• Testimony of Terrence Duffy, Executive Chairman of CME Group, Inc. House Committee on Agriculture
• Testimony of Chairman Gary Gensler before the House Committee on Agriculture CFTC
• 13 Senators + 1 Sub-Committee Chairman = A Theme: Pace Good, Prescriptive Bad The Swap Report
• At Center of Derivatives Debate, a Gung-Ho Regulator New York Times DealB%k
• How many CCPs do we need? Deus Ex Macchiato
• Lawmakers Seek Pension Disclosure Reuters
• House GOP Fears 'Looming Fiscal Crisis' for States Wall Street Journal
• Republican Threat to Cut SEC Funding May Delay Fiduciary Rules Bloomberg
• Dodd-Frank and Mutual Funds: Alternative Approaches to Systemic Risk Harvard Law School Forum
• SEC Enforcement Trends 2011: The SEC in Court Corporate & Securities Law Community
• Grassley Questions 'Cozy' Relationship Between SEC, Justice Dow Jones
• 2011 MSRB Rule Book MSRB
• 2010 MSRB Annual Review MSRB
• FPL Buy-Side Representatives Create Best Practices Around Execution Venue Reporting FIX Protocol
• Data Confirms That Securitized Mortgages Less Likely to Be Modified Center for Public Integrity
• Securitization Update Morrison & Foerster LLP
• Monthly foreclosures start climbing again FT Alphaville
• SBA Launches Initiative For Impact Investing And Early Stage Seed Financing McGuireWoods LLP
• Cassano’s Pay at AIG Peaked at $44.6 Million in 2003 Bloomberg

February 9

• IMF Under Fire Alea
• 'Overconfident' IMF downplayed risks in run-up to financial crisis The Guardian
• Ireland’s Lenihan Wants Senior Bank Debt Discounts Bloomberg
• ECB's Bini Smaghi: Greece Would Be Worse Off If Restructures Imarketnews.com
• The Miles Higher club The Economist
• Measures Adopted by Competent Authorities on Short Selling ESMA
• Fed's Ben Bernanke says he's not worried about inflation LA Times
• Paul slams Fed’s bond-buying program Marketwatch
• Big insurers ask Geithner for Dodd-Frank slowdown Reuters
• The SEC Needs to Expand to Cover Expanding Markets Wall Street Journal
• Fed Proposes Rules on Supervising Important Nonbank Companies Bank Digest
• Will the market because of modern improvements in IT displace the firm? The Fourth Circle
• Wall Street Should Bailout the S.E.C. Wall Street Oasis
• Lawmaker wants SEC details before money decided Reuters
• SEC Proposes First in Series of Rule Amendments to Remove References to Credit Ratings SEC
• SEC to wean markets off credit ratings Reuters
• SEC downgrades credit rating agencies FT Alphaville
• SEC Considers Removing Credit Ratings From Registration Forms Bloomberg
• Rule G-23 on Activities of Financial Advisors MSRB
• Crank Up the Casino! Hedge Funds to Short American States and Cities New Deal 2.0
• The metamorphosis of the muni market FT Alphaville
• Muni Market Bargains? A Closer Look at Municipal Debt, Deficits and Pensions PIMCO
• N.J. spends $122M to partially terminate interest-rate swap deals in past month NJ.com
• More than Fannie, Freddie block return of private mortgage market Housing Wire
• Plans Near for Freddie and Fannie New York Times
• The Art of the Punt National Journal
• Fact du jour, mortgage loan mod edition FT Alphaville
• Banks Could Face $60 Billion Tab on Bad Loans New York Times DealB%k
• XBRL Data in Use Public Radio
• How XBRL improves analysis Business Insider

February 8

• Central banks accused of collateral hypocrisy Risk.net
• Osborne Says U.K. Bank Levy Increase to Raise 800 Million Pounds Bloomberg
• Britain Raises Bank Levy to $4 Billion This Year New YorkTimes Dealb%k
• Govt aims to halve transaction costs for exporters Reuters
• Joint Implementation Plan Federal Reserve, FDIC, OCC and OTS
• Annual Report | Fiscal Year 2010 OCC
• Implementing the Dodd-Frank Act: The Federal Reserve Board's Role Federal Reserve
• Lacker says better economy requires Fed to rethink Reuters
• Definitions Of “Predominantly Engaged In Financial Activities” Federal Reserve
• MONEY MARKETS-Money funds repo activity may lag Fed's hopes Reuters
• Fed Requests Comments on Proposals for Dodd-Frank Law Bloomberg
• A Seer on Banks Raises a Furor on Bonds New York Times
• Rating Agencies: the Right Message at the Wrong Time Reuters
• FISD Creates Credit Rating Agency Group FISD
• Amendments to Rules G-8 and G-34 to Increase Transparency of Municipal Variable Rate Securities MSRB
• MSRB Seeking Applicants for Board of Directors MRSB
• Muni Regulator To Target Conflicts With Dealers Dow Jones
• California Plan Is Hope for Bondholders Wall Street Journal
• Muni Bonds: Matt Taibbi’s Antidote to Meredith Whitney Wall Street Pit
• Study Examines Possible Contributors to Subprime Foreclosures Federal Reserve Bank of New York
• Zandi's vision of housing finance means breaking up Fannie, Freddie Housing Wire
• Bankster Vs Deadbeat ZeroHedge
• Citigroup Settles Fraud Cases Tied to Texas Mortgage Assigner Bloomberg
• Ex-SAC Employees Are Charged in U.S. Insider Probe Bloomberg

February 7

• Banks should not be broken up, CBI chief urges BobsGuide
• Gold is good to go at JPMorgan repos FT Alphaville
• Can we trust TIPS? The Economist
• Senate memo shows fight awaits Dodd-Frank foes Reuters
• Comments Sought on FSOC’s Concentration Limits Study Bank Digest
• SEC Chair Says Budget Shortfall Affecting Core Mission as Dodd-Frank Rulemaking Intensifies CCH Federal Securities Law Reporter
• Wall St. Joins S.E.C. in Plea for Bigger Budget New York Times Dealb%k
• Securitization Quality Declines as Wall Street Revives Issuance Bloomberg
• FDIC Moves Forward on Executive Compensation, Deposit Insurance Rules CCH Federal Banking Law Reporter
• Big U.S. banks face delayed bonuses Reuters
• 'Toxic' Assets Still Lurking at Banks Wall Street Journal
• SEC sets sights on mortgage disclosures Financial Times
• Mortgage modifications drop 57% from 2009 peak: Fitch Housing Wire

February 6

• ESMA Work Programme for 2011 and implementation of CESR Work Programme for 2010 ESMA
• Shadow Banks, Dodd-Frank, UBS Notice: Compliance Bloomberg
• Deposit insurance costs climbing for big banks Reuters
• PREVIEW-Deposit insurance costs climbing for big US banks Reuters
• As debate begins, here are the facts on Fannie and Freddie McClatchy
• Treasury leaks: Government to reduce role in Fannie, Freddie Housing Wire
• New Fee Disclosure Rules: No Threat to Mutual Fund Providers Institutional Investor
• Wall St looks to boost market in US muni CDS Financial Times

February 5

• Classifications of Countries Based on Their Level of Development: How it is Done and How it Could be Done IMF
• Understanding and quantifying contagion Vox EU
• Principles on Point of Sale Disclosure - Final Report IOSCO
• A Note On Unemployment The Daily Capitalist
• 2010 Year-End Securities Enforcement Update Harvard Law School Forum
• Summary of Posts on Disclosure of Litigation Contingencies re: The Auditors
• The Ratings Charade Continues: A CLO Investigation, Part II Finance Guy
• Regulators May Force Wall Street To Defer Half Of Executives' Bonuses, Wall Street Journal Reports Huffington Post

February 4

• Commodity shock is a nightmare for central bankers Financial Times
• Fix the EFSF – lower the interest rate? FT Alphaville
• Gaelic TALF, and other bizarre Irish bank fixes FT Alphaville
• Bernanke Takes Sides on Debt Limit Vote New York Times
• Guest Post: The Great Global Debt Prison ZeroHedge
• Unemployed Still Far More Likely to Drop Out Than Find a Job Rortybomb
• Goldman kind of disagrees with the Fed on commodities inflation FT Alphaville
• Virginie’s Blog – A Peek Behind the Curtain of the OFR A-Team Group
• AIG Hires New York Fed’s Peters to Risk Job After Repaying Loan Bloomberg
• Regulators press for trader pay ‘clawbacks’ Financial Times
• Warren Details CFPB's Structure in Letter to Rep. Neugebauer ABA Dodd-Frank Tracker
• Remarks, American Bar Association, Committee on Derivatives and Futures Law - Chairman Gary Gensler CFTC
• SEC's Shapiro Outlines Priorities and Stresses Resource Constraint ABA Dodd-Frank Tracker
• SEC's Casey Warns of Legal Challenges on Dodd-Frank Reuters
• Mark Cahn Named SEC General Counsel SEC
• SEC in no great rush to write fiduciary rule, Schapiro says Investment News
• SEC casts wider net in regional bond probe Financial Times
• Muni bond issuers: Disclosure? What disclosure? Investment News
• ETFs in the heat of the US muni-bond battle Financial Times
• S&P: No Governors Are Planning On Default, And They're Furious That Noisemakers Are Spoiling The Debt Market Institutional Investor
• FACTBOX-Top threats to U.S. state, local governments Reuters
• Dems: Obama Broke Pledge to Force Banks to Help Homeowners ProPublica
• Financial Crisis Prosecutions On Wall Street Slow To Develop Despite Cries For Justice Huffington Post

February 3

• Statement on Monetary Policy Reserve Bank of Australia
• EP approves Steven Maijoor to be ESMA’s first Chair ESMA
• The Ruinous Fiscal Impact of Big Banks New York Times
• Vexed in the City - When businessmen issue new shares, they are prey to smooth-talking bankers The Economist
• Silent capital, backdoor Basel FT Alphaville
• Think the Basel III Rules Are All Sewn Up? Think Again American Banker
• Securitization Market, Derailed by Crisis, Chugs to Life Wall Street Journal
• CFTC Swap-Trading Rules May Limit Market Entrants, Moody’s Says Bloomberg
• Muni issuers lax in filing financials: study Reuters
• Congress Wants to Hear from Meredith Whitney on Muni Call Fox Business
• It's War: Pimco Says Meredith Whitney's Analysis Is 'Not Worth Paper It's Written On' Business Insider
• Inside Meredith Whitney's ratings agency Fortune
• SEC probes Rhode Island muni offerings: treasurer Reuters
• More Facts about Muniland Ritzholtz
• New York City Regulates Investment Managers’ and Placement Agents’ Solicitation of City Pension Systems K&L Gates
• JPMorgan Suspected Madoff Fraud, Trustee Says in Suit Bloomberg

February 2

• Stiglitz Says Europe Faces ‘Disastrous’ Budget Austerity Drive Bloomberg
• Richard Koo Says Rating Agency Sovereign Downgrades Could "Destroy The Global Economy Again" ZeroHedge
• Macroprudential policy – a literature review BIS
• EU Plans Euro Pledge as Investors Bet on Debt Effort Bloomberg
• Financial markets: OTC derivatives, central counterparties and trade repositories (amend. Directive 98/26/EC) European Parliament
• Measures Adopted by Competent Authorities on Short Selling European Securities and Markets Authority
• Banks hit out at EC derivatives proposal Financial Times
• Bill Gross Compares Ben Bernanke To Satan, Calls For A Bondholder-Citizen "Exorcizing" Comintern ZeroHedge
• Fed's Duke: current easing likely sufficient Reuters
• Fed Names MF Global, Societe Generale Primary Dealers Bloomberg
• Quantitative Easing and Relative Asset Performance From 2008: Gold, Silver, SP 500, US Dollar Jesse's Café Américain
• Garrett Announces Subcommittee Hearing To Tackle Fannie, Freddie Reform House Committee on Financial Services
• Registration and Regulation of Security-Based Swap Execution Facilities SEC
• SEC Proposes Swap Trading Facilities Under Dodd-Frank Bloomberg
• S.E.C. Proposes New Swap Rules DealB%k
• US SEC treads softly in swaps market transparency Reuters
• Large Players Worry About Dodd Frank Swap Regs Wall Street and Tech
• CFTC Swap-Trading Rules May Limit Market Entrants, Moody’s Says Bloomberg
• SEC Proposals for Suspension of Reporting Obligations for Asset-Backed Securities (“ABS”) Issuers K&L Gates
• Holly Petraeus Urges Top Banks to Follow Law on Military Debts Bloomberg
• Guest Post: The “Recovery” In Consumer Loans Isn’t Real ZeroHedge
• Moans of the monolines FT Alphaville
• NY State Judge Allows MBIA to obtain S&P and Moody's Ratings files Supreme Court of the State of New York
• BofA Mortgage Investors Extend Discussions on Putback Demands Bloomberg
• In Postcrisis Report, a Weak Light on Complex Transactions Pro Publica
• A Tale Of Outright Fraud From An Ex-Member Of Citi's Corporate Derivatives Team ZeroHedge
• SEC Approves Amendments to Rule A-3(c) to Establish New Nominating and Governance Committee MSRB
• Quarterly Report to Congress SIGTARP

February 1

• Global Government Solutions 2011: Annual Outlook K&L Gates
• Tackling aggressive tax planning through improved transparency and disclosure OECD
• FSA announces annual funding requirement for 2011/12 FSA
• Messages from the Academic Literature on Risk Measurement for the Trading Book Alea
• Ivory Coast Bondholders Call Default on $2.3 Billion Bloomberg
• Six scenarios in search of a eurozone solution FT Alphaville
• EU Said to Near Agreement on Bailout Fund Buying New Bonds Bloomberg
• ECB halts bond buying Valuation Risk Net
• Derivatives Plan for European Watchdog May Exceed EU Power Bloomberg
• UK banks face tighter regulation, says Lord Turner BobsGuide
• Senate Banking Staffer Joins Reed Smith New York Times DealB%k
• Fed's Easy Money Helps European Banks Refinance Bloomberg
• Fed Says Banks ‘More Upbeat’ on Delinquencies in 2011 Bloomberg
• Loans and Leases in Bank Credit Federal Reserve Bank of Cleveland
• NY Fed eases criteria for reverse repo counterparties Reuters
• Global supervisors gather at NY Fed for OTC meet Risk.net
• Congressional Research Service Issues Report on Dodd-Frank Implementation ABA Tracker
• "New Species: How Market Participants Have Evolved in Financial Ecosystems" CFTC
• Markit & Omgeo Partner to Set New Financial Industry Standard for Account Documentation Markit
• SEC Releases Money Market Fund Portfolio and "Shadow NAV" Information to the Public SEC
• Guide to SEC Investment Adviser Registration for Hedge Fund and Private Equity Fund Managers Bingham
• SEC Approves FINRA Proposal to Give Investors Permanent Option of All Public Arbitration Panels FINRA
• SEC Study on the Fiduciary Duty of Investment Advisers and Broker-Dealers Harvard Law School Forum
• Risky Debt Still Weighs on Weak Wall Street Journal
• Taxes Boost State Coffers Wall Street Journal
• Treasurer Lockyer Seeks Return of Taxpayer Money Used to Fund Wall Street Lobby Groups CA State Treasurer
• FACTBOX-Municipal bond issuers with widest credit spreads Reuters
• Sales of Muni Bonds Sink to 10-Year Low Wall Street Journal
• Whitney Municipal-Bond Apocalypse Is Short on Default Specifics Bloomberg
• Casualty List IRA Foresnic Reports on Failed Banks Institutional Risk Analyst
• Crisis Laid Bare Banks' Weaknesses at Processing Information Insurance Networking News