• Tuesday, September 27, 2016 - 16:02


    --Senate Majority Leader McConnell: Dems Seek To 'Precipitate' Shutdown
    --Senate Minority Leader Reid: Don't Need 'Manufactured Crisis' on Spending

    WASHINGTON (MNI) - Senate Democrats Tuesday blocked a Republican effort to advance a fiscal year 2017 stop-gap spending bill, but the leaders of both parties said they're interested in further negotiations on the needed funding bill.

    On Tuesday in two procedural votes, Senate Democrats blocked Republican motions to end debate on the stop-gap spending bill proposed by Senate Majority Leader Mitch McConnell.

    McConnell has called for speedy passage of the FY 2017 stop-gap bill that he introduced late last week that funds the government until Dec.

  • Tuesday, September 27, 2016 - 15:29


    --Senate Majority Leader McConnell: Dems Seek To 'Precipitate' Shutdown
    --Senate Minority Leader Reid: Don't Need 'Manufactured Crisis' on Spending

    WASHINGTON (MNI) - Senate Democrats Tuesday blocked a Republican effort to advance a fiscal year 2017 stop-gap spending bill, but the leaders of both parties said they were interested in further negotiations on the needed funding bill.

    On Tuesday in two procedural votes, Senate Democrats blocked Republican motions to end debate on the stop-gap spending bill proposed by Senate Majority Leader Mitch McConnell.

    McConnell has called for speedy passage of the FY 2017 stop-gap bill that he introduced late last week that funds the government until December 9.

    Just before the vote, McConnell said Democrats had b

  • Tuesday, September 27, 2016 - 10:40


    --Senate Majority Leader McConnell: Dems Seek Spending Confrontation
    --Senate Minority Leader Reid: GOP Has Objectionable Riders, No Funds For Flint
    --Senate To Hold Key Procedural Vote At 2:15 PM; 60 Votes Needed

    WASHINGTON (MNI) - Senate Majority Leader Mitch McConnell and Minority Leader Harry Reid exchanged verbal jabs Tuesday on key funding legislation, with McConnell charging that Democrats have manufactured reasons for threatening to block a fiscal year 2017 stop-gap spending bill while Reid hammered McConnell for adding unacceptable policy riders to the package and not including funds for Flint, Michigan.

    In back-to-back remarks on the Senate floor prior to a critical Senate procedural vote at 2:15 p.m., the two Senate leaders blamed each other for the

  • Tuesday, September 27, 2016 - 09:00


    --Calls on Policymakers to Address Low Investment
    --Trade Policy Still Relevant, Protectionism Could Grow Into Hazard

    WASHINGTON (MNI) - With a weak economic outlook weighing heavily on trade, it is imperative that global leaders use all the tools at their disposal to boost investment while resisting protectionist impulses, the International Monetary Fund said Tuesday in its World Economic Outlook report released ahead of its annual fall meeting.

    Since 2012, the growth rate in the volume of world trade in goods and services has been stuck at around 3%, less than half the rate during the prior three decades.

  • Monday, September 26, 2016 - 15:33


    --Senate Majority Leader McConnell Rips Dems Over Spending Stalemate
    --Sen. McConnell: Stop-Gap is 'Clean' and 'Fair'
    --Senate Minority Leader Reid: 'We Should Not Leave Flint Behind'

    WASHINGTON (MNI) - Senate Majority Leader Mitch McConnell ripped into Democrats Monday for threatening to block a fiscal year 2017 stop-gap spending bill, accusing them of "trying to take our country to the brink" as government funding expires at the end of the week.

    In remarks on the Senate floor, McConnell said the FY 2017 stop-gap bill he introduced late last week deserves speedy approval by Congress.

    "It's clean. It's fair.

  • Monday, September 26, 2016 - 14:13


    --Updating Story at 15:45 GMT to Add Details of Proposal
    --8 Biggest Banks' Capital Surcharges to be Considered in Stress Scenarios
    --Smaller Banks Exempt from Qualitative Portion of Stress Tests Starting 2017

    WASHINGTON (MNI) - The Federal Reserve intends early next year to formally propose revisions to capital requirement rules for big banks that would significantly raise the amount of capital required under stress scenarios for the country's eight largest lenders, Fed Gov. Daniel Tarullo said Monday.

    The eight "globally systemically important" banks (GSIB) -- J.P.

  • Monday, September 26, 2016 - 13:24


    --Senate Due To Hold Stop-Gap Procedural Vote Tuesday Afternoon
    --Fed's Yellen To Testify To House Fin Services Panel Wednesday

    WASHINGTON (MNI) - Congressional Republicans and Democrats are still at odds over a fiscal 2017 stop-gap spending bill that would fund the federal government until December 9.

    The new 2017 fiscal year begins this coming Saturday, October 1. Without additional funding by then, much of the federal government would have to shut down.

    Senate Majority Leader Mitch McConnell has scheduled a key procedural vote Tuesday at 2:15 p.m. ET on the stop-gap bill, but the parties remain divided over assistance for Flint, Michigan to help that community deal with lead contamination in the city's water supply.

  • Monday, September 26, 2016 - 12:25


    --Shift to Risk-Sensitive Capital Buffer Approach
    --Change Would Not Take Effect Until After 2017 Stress Tests

    WASHINGTON (MNI) - The Federal Reserve intends early next year to formally propose revisions to capital requirement rules for big banks that would raise the amount of capital required across the board but especially for the eight largest lenders considered globally systemically important, Fed Gov. Daniel Tarullo said Monday.

    The eight banks -- J.P. Morgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Wells Fargo, State Street and Bank of New York Mellon -- already face special capital surcharges tailored to each of them, but the new rules would force them to hold the extra capital during stress periods.

  • Friday, September 23, 2016 - 13:52


    --Sen. McConnell Begins To Move A Plan That Democrats Reject
    --Senate Moves Toward Key-Stop Gap Vote On Tuesday
    --Budget Group Says Trump Proposals Would Boost Debt By $5 Trillion

    WASHINGTON (MNI) - The Senate's bid to negotiate and pass a fiscal 2017 stop-gap spending bill sailed into partisan waters this week, with Senate Majority Leader Mitch McConnell offering Thursday a package that he called a bipartisan consensus but which Democrats slammed as a "Republican only" measure.

    The Senate will hold a key procedural vote at 2:15 p.m. Tuesday on the FY 2017 stop-gap and it seems likely the two parties will try to reach an agreement before that vote.

    The FY 2017 stop-gap measure under discussion would fund the federal government until December 9.

  • Thursday, September 22, 2016 - 15:26


    --Analysts Say Warnings of Gov Shutdowns Are Often Hyperbolic
    --Hill Dems, GOP Remain At Odds Over FY 2017 Stop-Gap

    WASHINGTON (MNI) - Warnings about a shutdown of the federal government have become an autumn ritual in Washington for more than 20 years and rumblings about a possible shutdown continue this fall despite a bipartisan bid to negotiate a stop-gap funding bill that keeps the government running into December.

    Concerns about government shutdowns are fueled by fiscal history, divided government, current political dysfunction and news organizations and political pundits trying to capture attention and generate buzz.

    As an example, the September 6th edition of Roll Call, Capitol Hill's most prominent magazine, welcomed lawmakers back to Washington