News By Region
Friday, March 27, 2015 - 18:09 Sr US Tsy Offl:'Too Early'to Address China FX Inclusion in SDR 0
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."
Friday, March 27, 2015 - 16:05 Insurance, Asset Managers Pound the Fed for Forbearance 0
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 US OCC: 1st-Lien Mtg Performance Improved In Q4; Up Vs Yr Ago 0
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 White House:Obama, Merkel Reaffirm Commitment To L-T Iran Deal 0
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: firstname.lastname@example.org
Friday, March 27, 2015 - 12:18 SSM Nouy: Scope Single Resolution Fund Will Suffice 0
--Reiterates view that Greece's banks remain solvent
FRANKFURT (MNI) - European Central Bank Supervisory Board Chairperson Daniele Nouy said Friday that she is confident the intended E55 billion size of the Single Resolution Fund will be sufficient.
"The size of the single resolution fund will be enough," Nouy said during a panel discussion at the Bundesbank's Conference on Debt and Financial Stability.
Only in "really, really tough crises" might limits be hit, but even in those cases new bail-in rules mean that cost for taxpayers should remain more contained than in the previous crisis.
Nouy called for a quick implementation of...
Friday, March 27, 2015 - 11:32 EURO WEEK AHEAD: Inflation, Jobs Data Highlight Easter Week 0
By Martin Baccardax
LONDON (MNI) - European investors will look to key economic data on jobs and inflation to confirm the strength of the region's recovery in an Easter holiday shortened week dominated by consumer price data and the ongoing debt crisis in Greece.
Good Friday observances around much of Europe will truncate the trading week to four days as we head into April, and the calendar of European Central Bank speakers is thin as a result, but there is still enough economic data to spark and active session in the region's financial markets.
Germany opens proceedings Monday with March inflation data, starting with state readings in the morning and ending with a federal "flash" estimate at 14:00 CET.