U.S. Government

  • 2015-03-30 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.

  • 2015-03-29 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.

  • 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 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.

  • 2015-03-26 16:30


    WASHINGTON (MNI) - The following is an announcement by the Federal Reserve and FDIC Thursday that they are permanently giving the four non-bank SIFIs - AIG, GE Capital, MetLife and Prudential - an additional six months to file their annual "living wills," to Dec. 31, beginning in 2016.

  • 2015-03-26 15:21


    --Lower Oil, Stronger USD, Moderating Growth May Lead To Further Challenges

    WASHINGTON (MNI) - The Financial Stability Board Thursday cautioned financial market participants against being lulled into a false sense of security just because recent market adjustments have occurred without any significant financial stress.

    "The risk of a sharp and disorderly reversal remains, given compressed credit and liquidity risk premia," the body charged with monitoring the G20 countries for signs of emerging financial stability risks warned in a statement.

    The remarks were made in a statement released following the group's meeting in Frankfurt.