Government Policy

  • 2015-03-27 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.

  • 2015-03-27 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.

  • 2015-03-27 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.

  • 2015-03-27 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$$$$,MGU$$$]

  • 2015-03-27 11:32


    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.

  • 2015-03-27 11:11


    By Angelika Papamiltiadou

    ATHENS (MNI) - Greece's government is threatening to stop repaying its obligations to creditors if its updated reforms list, set to be officially sent to Brussels Monday, is rejected, a government official told journalists Friday.

    The same official said that the so-called Brussels Group will meet Friday evening or Saturday to examine a draft of the reforms list.

    The official said that "the government will not continue repaying its debt obligations using state money if the creditors don't give loan tranches access to Greece imminently which have been pending since 2014."

    "We continue to repay our creditors despite the fact that we have received no funding since the summer," he said.

  • 2015-03-27 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.

  • 2015-03-27 06:30


    --More Work Needed on Short-Term Wholesale Funding, Hedge Funds, Derivatives

    WASHINGTON (MNI) - While progress has been made in regulating the non-banking financial sector since the 2008 crisis, Federal Reserve Board Vice Chair Stanley Fischer said Friday more work needs to be done to stay ahead of further changes.

    "Many reforms have been adopted for both banks and nonbank financial institutions," Fischer said in remarks prepared for the Deutsche Bundesbank Conference on Debt and Financial Stability in Frankfurt.

    "But regulation is a cat and mouse game," he said.

  • 2015-03-27 03:45


    By Jack Duffy

    PARIS (MNI) - France's housing starts declined only slightly in the three months through February while permits edged higher, suggesting the French home building industry may be stabilizing after one of its longest downturns on record.

    Housing starts fell by 1.8% in the December-February period while permits rose by 0.1%, the Ministry for Ecology and Development said Friday.

  • 2015-03-27 02:35


    LONDON (MNI) - Latest polling data

    Con Lab LD UKIP Green SNP

    ----------------------------------------------------------

    YouGov/Sun 27/03/15 36% 34% 7% 13% 5% n/a YouGov/Sun 26/03/15 34% 35% 8% 12% 6% n/a Survation/Mirror 25/03/15 32% 33% 8% 18% 4% YouGov/Sun 25/03/15 35% 35% 8% 12% 6% n/a ComRes/ Mail ITV 24/03/15 35% 35% 8% 10% 6% n/a YouGov/ Sun 24/03/15 34% 34% 8% 12% 6% n/a ICM Scotland 23/03/15 14% 27% 6% 7% 3% 43% Populus 22/03/15 31% 33% 9% 16% 5% n/a Ashcroft 22/03/15 33% 33% 8% 12% 5% n/a

    The UK Parliament will be dissolved on Monday March 30, triggering a near 6-week campaign ahead of the May