• Tuesday, March 31, 2015 - 20:40


    --US Dollar Strengthening Reflects Relative Strength of Economy
    --Doesn't See 'Problematic' Currency Intervention in Japan and China

    WASHINGTON (MNI) - The strengthening of the U.S. dollar is good for the United States, because it is for the right reason, Treasury Secretary Jack Lew said Tuesday, and what the global economy needs is faster growth everywhere else.

    "A strong dollar is good for the United States especially when it's reflecting a strong U.S.

  • Tuesday, March 31, 2015 - 14:43


    WASHINGTON (MNI) - The following is the readout of a call between President Barack Obama and Egypt President Abdelfattah al-Sisi Tuesday:

    President Obama spoke with Egyptian President Abdelfattah al-Sisi today regarding the U.S.-Egyptian military assistance relationship and regional developments, including in Libya and Yemen. President Obama informed President al-Sisi that he will lift executive holds that have been in place since October 2013 on the delivery of F-16 aircraft, Harpoon missiles, and M1A1 tank kits. The President also advised President al-Sisi that he will continue to request an annual $1.3 billion in military assistance for Egypt. Beginning in fiscal year 2018, the President noted that we will channel U.S.

  • Tuesday, March 31, 2015 - 14:30


    WASHINGTON (MNI) - The following is the text of a joint-statement by U.S. bank regulators announcing permission granted to Wells Fargo to begin using, in the next quarter, the advanced approaches framework to determine risk-based capital requirements:

    The Federal Reserve Board and the Office of the Comptroller of the Currency today announced that they have permitted Wells Fargo and its subsidiary national banks to begin using the "advanced approaches" capital framework starting in the second quarter of 2015. Under this framework, firms must meet specific risk-measurement and risk-management criteria when calculating their risk-based capital requirements.

  • Monday, March 30, 2015 - 06:54


    BEIJING (MNI) - The following are U.S. Treasury Secretary Jack Lew's remarks prepared for his meeting with Premier Li in Beijing Monday:

    Mr. Premier, thank you for receiving us. President Obama sends his warm regards, and is looking forward to hosting President Xi in September. We have a good opportunity this year to strengthen and deepen economic relations between the United States and China.

    Each of our countries has a large stake in the success of the other. As the world's two largest economies, this is a matter of great importance not only to the prosperity of our own peoples, but to the health and development of the global economy.

  • Sunday, March 29, 2015 - 15:12


    --Retransmitting Story Published 16:05 ET Friday

    WASHINGTON (MNI) - Trade groups, lobbyists, executives for the insurance and asset management industries and Republican members of Congress who have focused their pressure on Federal Reserve Gov.

  • Friday, March 27, 2015 - 18:09


    By Denny Gulino

    WASHINGTON (MNI) - A senior U.S. Treasury official, previewing Treasury Secretary Jack Lew's trip to Beijing Monday, late Friday said it's "too early" to address China's renewed push to get the country's currency included in the IMF's basket composing special drawing rights.

    "There are still strong reasons to believe that further appreciation in the Chinese currency is consistent with a more balanced global economy and also with the priority the Chinese government has put on increasing domestic demand-driven growth," the official said.

    But on the inclusion of the yuan as one of the currencies making up the IMF's SDR, the official said, "The reality is I think it's too early to comment."

    Any changes in the makeup of the SDR would take effect Jan.

  • Friday, March 27, 2015 - 16:05


    By Denny Gulino

    WASHINGTON (MNI) - Trade groups, lobbyists, executives for the insurance and asset management industries and Republican members of Congress who have focused their pressure on Federal Reserve Gov.

  • Friday, March 27, 2015 - 15:00


    By Brai Odion-Esene

    WASHINGTON (MNI) - The performance of first-lien residential mortgage loans improved in the fourth quarter of 2014 compared to the third quarter, and made further progress when compared to the same quarter a year ago, the Office of the Comptroller of the Currency said in a report Friday.

    According to the agency's Q4 Mortgage Metrics Report, the percentage of mortgages that were current and performing at the end of the quarter was 93.2%, vs.

  • Friday, March 27, 2015 - 14:52


    WASHINGTON (MNI) - The following is the text of a readout of a phone call between President Barack Obama and German Chancellor Angela Merkel Friday:

    The President spoke today with Chancellor Merkel of Germany concerning the ongoing nuclear negotiations with Iran. They reaffirmed their commitment to achieving a long term comprehensive deal that fully and verifiably ensures that Iran's nuclear program is exclusively peaceful going forward, while noting that Iran must make the decisions necessary to resolve several remaining issues.

    --MNI Washington Bureau; tel: +1 202-371-2121; email: besene@mni-news.com

    [TOPICS: M$E$$$,M$G$$$,M$U$$$,M$X$$$,MI$$$$,MGU$$$]

  • Friday, March 27, 2015 - 10:48


    WASHINGTON (MNI) - The following is the text of a statement by the White House Friday in response to the Senate's approval earlier of a Republican-drafted fiscal year 2016 budget resolution:

    Following in the footsteps of their House colleagues, Senate Republicans today voted in favor of a budget that relies on top-down economics and gimmicks. The Senate Republican budget refuses to ask the wealthy to contribute a single dollar to deficit reduction, putting the entire burden on the middle-class, seniors, low-income children and families, and national security.