U.S. Government

  • 2015-11-25 11:26

    --Base-Line Limits Maintained for Most of Nation

    WASHINGTON (MNI) - The following is an announcement by the regulator of Fannie Mae and Freddie Mac, published Wednesday:

    2016 Maximum Conforming Loan Limits Established for Fannie Mae and Freddie Mac

    National Baseline Loan Limit Remains Unchanged; Limits Rise for 39 High-Cost Areas

    The Federal Housing Finance Agency (FHFA) today announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2016 will remain at existing levels, except in 39 high-cost counties where they will increase.

  • 2015-11-24 15:05

    WASHINGTON (MNI) - The following is a Federal Reserve announcement Tuesday of changes it is making in the supervisory regime for large and complex banking organizations:

    The Federal Reserve Board on Tuesday announced that it is implementing several recommendations to enhance the supervision of large and complex banking organizations.

  • 2015-11-24 15:00

    By Denny Gulino

    WASHINGTON (MNI) - President Barack Obama Tuesday welcomed French President Francois Hollande to the White House as a partner against terrorism while calling for those on the outer edge of the effort, Russia and Turkey, not to escalate their division in the wake of the shooting down of a Russian fighter jet.

    Obama, in a joint news conference with Hollande, said he could not comment on whether the Russian jet was over Turkish territory but a U.S.

  • 2015-11-24 14:04

    --Inversions Provoke Democratic Rebukes on Campaign Trail
    --Hill Tax Chiefs Say Inversions Make Case For Tax Reform

    WASHINGTON (MNI) - The substantial increase in corporate tax inversions in the United States during the last several years has spurred two very different reactions on Capitol Hill.

    First, there has been an upsurge in fierce political criticisms of the practice, in which inversions are often depicted as cynical, manipulative and even unpatriotic.

    Also, the practice of inversions, especially in its most aggressive manifestations, has dramatized and underscored the case for comprehensive tax reform.

    Both of these impulses have been in evidence this week in the wake of the proposed merger between Pfizer and Allergan.

    This specific tax i

  • 2015-11-24 13:18

    --Banks Serving Oil Patch Face Increasing Difficulties
    --Opportunities for Banks To Increase as Fed Raises Rates


  • 2015-11-24 12:04

    By Denny Gulino

    WASHINGTON (MNI) - After two years of work getting ready, the Commodity Futures Trading Commission Tuesday braced for an onslaught of criticism of a proposal to erect extensive new guardrails around algorithmic trading of futures contracts.

    The more-than-500-page proposal, approved by the three commissioners as expected, would make mandatory many safeguards against disruptive market events that larger firms have already put in place.

  • 2015-11-24 10:46

    WASHINGTON (MNI) - The following is the Quarterly Banking Profile for the third quarter released Tuesday by the Federal Deposit Insurance Corporation:

    Earnings Rise, Profitability Remains Flat

    Reductions in expenses for litigation reserves outweighed weakness in net operating revenue at large banks as third quarter net income for FDIC - insured institutions totaled $40.4 billion. This represents an increase of $1.9 billion (5.1 percent) from the $38.4 billion reported in third quarter 2014. Well over half of all banks, or 58.9 percent, reported higher quarterly earnings than the year - ago quarter. The proportion of banks that were unprofitable fell to 5 percent, compared with 6.6 percent in third quarter 2014.

  • 2015-11-23 14:41

    --Top Democrat on Senate Finance Panel Calls For Action
    --Sen Wyden: 'Concerning Trend' Requires Sweeping Tax Reform

    WASHINGTON (MNI) - Sen. Ron Wyden, the ranking Democrat on the Senate Finance Committee, said Monday that the proposed merger between pharmaceutical companies Pfizer and Allergan underscores the urgent need for sweeping tax reform.

    In a statement, Wyden said there are clear limits to what Treasury rules can do to "halt the inversion virus and stop the further erosion of our tax base."

    "The only course of action that will stop this concerning trend of American firms continuously looking for ways to shift their headquarters overseas is comprehensive tax reform," Wyden said.

  • 2015-11-20 13:11

    --Still Moving Toward Central Clearing of Repo
    --Tsy's Weiss: Building New Report on Oct 15 Questions

    WASHINGTON (MNI) - The market for Treasuries, central to the entire new framework of macroprudential stability safeguards, needs some market structure experimentation and regulators are still seriously considering expanded central clearing for repo, Federal Reserve Governor Jerome Powell said Friday.

    At the same conference on updating the Treasuries market, part of the first comprehensive review since 1998, Treasury Counselor Antonio Weiss said the department is building a new report on the still unanswered questions about the October 15, 2014, Treasury market gyrations.

    Powell too said he is still concerned about that "12-minute roundtrip episode" that m

  • 2015-11-19 18:16

    --Sen. Hatch: 'Comprehensive' Tax Reform Needed
    --Sen. Wyden: Inversions Underscore Urgency For Tax Overhaul

    WASHINGTON (MNI) - Senate Finance Committee Chair Orrin Hatch said Thursday he will carefully review Treasury's new statement tightening regulations on abusive corporate inversions, but said the only real solution is comprehensive tax reform.

    "While the best way to resolve these issues would be through a comprehensive tax overhaul that lowers the corporate tax rate and shifts the U.S. to a territorial tax system with base erosion protections, it's imperative we explore what actions can be taken now," Hatch said in a statement.