U.S. Government

  • 2015-05-05 15:06

    --Senate GOP Leader Praises Obama For TPA Push
    --Sen. McConnell: Senate To Take UP TPA After Iran Bill
    --Sen. Reid: Don't Know 'What The Rush Is' On TPA

    WASHINGTON (MNI) - Senate Majority Leader Mitch McConnell and Senate Minority Leader Harry Reid clashed sharply Tuesday over the merits of a Republican-drafted budget resolution and the substance and timing of legislation renewing Trade Promotion Authority.

  • 2015-05-04 15:00

    WASHINGTON (MNI) - The U.S. Treasury Monday estimated it will borrow $59 billion of net marketable debt in the second quarter of 2015, assuming a $260 billion cash balance on June 30.

    The larger borrow estimate is $66 billion more than the prior estimate of a $7 billion paydown, which assumed a cash balance of $150 billion at the end of June.

    "The increase in borrowing relates primarily to the increase in the end-of-quarter cash balance assumption partially offset by a decrease in the financing needs," Treasury said.

    In the first quarter of 2015, Treasury borrowed $141 billion, while the end-of-quarter cash balance was $100 billion.

  • 2015-05-04 14:08

    --Senate Finance Panel Chair Sees Senate TPA Action 'Soon'
    --Senate Finance Chief Shows Contours of Coming Debate
    --Senate Finance Chief Says TPA Bill Deals With Currency

    WASHINGTON (MNI) - In an effort to shape the coming Senate debate on legislation renewing Trade Promotion Authority, Senate Finance Committee Chairman Orrin Hatch released a statement Monday that argues that TPA preserves important powers for Congress and allows it to play an important role in trade matters.

    On April 22, the Senate Finance Committee approved TPA legislation on a 20 to 6 vote.

    In his statement, Hatch said he expects the Senate to take up TPA legislation "soon."

    It seems likely the Senate will take up the TPA bill next week, after voting this week on the fiscal year 20

  • 2015-05-04 14:00

    Survey is for: April 2015 Released: May 4, 2015

    Source: Federal Reserve Loans standards for large and middle-market firms (annual sales over $50 million) for approximately three month period prior to report release.

    All Banks # of Banks | % of Total Apr-15 Jan-15 Oct-14 | Apr-15 Jan-15 Oct-14 Tightened considerably 0 0 0| 0.0 0.0 0.0 Tightened somewhat 3 2 0| 4.0 2.7 0.0 Basically unchanged 65 65 68| 86.7 89.0 89.5 Eased somewhat 7 6 8| 9.3 8.2 10.5 Eased considerably 0 0 0| 0.0 0.0 0.0 ---------------------

  • 2015-04-30 14:20

    By Vicki Schmelzer

    NEW YORK (MNI) - The benefits of high-frequency trading or high-speed trading, which are forms of algorithmic trading, may not outweigh the risks, according to an international set of senior central bank and regulatory officials in the Senior Supervisors Group report released Thursday.

    The "Algorithmic Trading Briefing Note," produced and issued by senior financial supervisors from 10 countries, with representatives from central banks, such as the European Central Bank, and regulatory firms such as Switzerland's FINMA, warned that many financial firms may not fully understand their exposure.

  • 2015-04-30 14:11

    --Forced to Put Budget Resolution Before Appropriations Process
    --Gives Ex-Im Bank Nod of Support


  • 2015-04-30 10:22

    --Q1 GDP 'Disappointing'

    WASHINGTON (MNI) - Treasury Secretary Jack Lew, acknowledging the first quarter GDP report was "disappointing," Thursday joined the chorus of administration and Federal Reserve official pronouncements that the weakness was temporary.

    "The consensus among private forecasters is that our economy will expand at a healthy pace for the rest of the year," Lew said, in remarks opening a Treasury Department program showcasing women in finance-related careers cosponsored by Catalyst, the workplace development non-profit.

    "While growth in the first quarter of this year was disappointing, a number of temporary factors contributed to the sluggishness," he said, without elaboration.

    Lew did list the positives, saying the

  • 2015-04-29 17:04

    By Denny Gulino

    WASHINGTON (MNI) - Treasury Under Secretary Nathan Sheets, previewing the June Strategic and Economic Dialogue with China, Wednesday afternoon said exchange rate and interest rate reforms remain high on the agenda and an investment treaty, while not necessarily near being realized, remains a potential "game changer."

    The list of topics for this year's government-to-government engagement closely resembles last year's with an additional hope there will be more progress on the Bilateral Investment Treaty that was initiated two years ago at a Dialogue session.

    "Such an agreement could be a game changer in terms of unlocking new opportunities and leveling the playing field for U.S.

  • 2015-04-29 14:52

    By Denny Gulino

    WASHINGTON (MNI) - Three telephone calls from Treasury Secretary Jack Lew to Puerto Rico's top leaders this week have underlined the island's approaching many-layered crisis as some utility bonds face a summer default and island tax revenues fall short.

    Nevertheless some investors and at least one presidential aspirant are seeing a bright side for now, with bond yields hovering around double digits and, in the political sphere, Republican presidential primary delegates ready to be harvested.

    This week's enthusiastic island reception for Republican near-candidate Jeb Bush boosted the hopes for supporters of a change in status from commonwealth to statehood and reinforced what Bush hopes is his appeal to Hispanic voters and his campaign theme of immigration

  • 2015-04-29 12:13

    By Karen Mracek

    WASHINGTON (MNI) - Community bankers are pushing the White House to nominate another member to the Federal Reserve Board of Governors by Memorial Day, the head of the community bankers lobbying group said Wednesday.

    "Hopefully the White House will name a nominee prior to Memorial Day," Cam Fine, president and CEO of the Independent Community Bankers Association, said at press conference.

    The reason for the push is that Sen. Richard Shelby, chairman of the Senate Banking Committee, has said he is in "no hurry" to hold a confirmation hearing for Allan Landon, President Barack Obama's nominee for an open seat on the Federal Reserve Board, without another nominee.

    Shelby told MNI April 15, "Right now I'm not in a big hurry.