Fed’s Kohn Warns of Interest Rate Risk Exposure

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Jan. 29, 2010. Federal Reserve Board Vice Chairman Donald Kohn warned that many  banks, thrifts and credit unions may be exposed to an eventual increase in short-term interest rates, and urged institutions to install sound practices to measure, monitor and […]

Swiss Seek to Salvage UBS Agreement; IRS Expects Continued Cooperation

By George L. Yaksick Jr., CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Jan. 28, 2010. Switzerland’s executive body, the Swiss Federal Council, announced on January 27 that it intends to salvage its landmark 2009 agreement with the United States to expose alleged tax evasion by U.S. nationals. The agreement cracked […]

Senate Approves PayGo, Debt Limit Increase

By Jeff Carlson, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Jan. 28, 2010. The Senate on January 28 approved by a 60 to 39 margin legislation (HJRes45) to boost the federal debt ceiling to $14.294 trillion, a $1.9 trillion increase. Prior to final passage lawmakers narrowly approved an amendment to […]

President to Announce New Details on Small Business Incentives

By Paula Cruickshank, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Jan. 28, 2010. President Obama on January 29 will outline several proposals to spur new hiring by small businesses and to increase wages or hours of work for existing employees. Under the president’s plan, small businesses and non-profit organizations would […]

Obama Seeks $30 Billion to Revive Community Bank Lending

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Jan. 28, 2010. President Obama said he is proposing to take $30 billion in funds repaid by Wall Street banks and channel it to community and smaller banks so they can give small businesses the credit they need to stay […]

Bernanke Reconfirmed as Fed Chairman

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Jan. 28, 2010. Federal Reserve Board Chairman Ben Bernanke has been confirmed by the Senate for a second four-year term as head of the central bank. The final vote was 70 to 30. During debate on the Senate floor prior […]

Agencies Finalize Regulatory Capital Standards Rule

Reprinted from the CCH Federal Banking Law Reporter, Jan. 27, 2010. The federal banking and thrift regulatory agencies have finalized a risk-based capital rule related to the Financial Accounting Standards Board’s adoption of Statements of Financial Accounting Standards Nos. 166 and 167. These new accounting standards make substantive changes to how banking organizations account for […]

Geithner Defends AIG Rescue Decisions

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Jan. 27, 2010. Treasury Secretary Tim Geithner defended the government’s decision to rescue American International Group, Inc. (AIG), and stressed that he played no role in the Federal Reserve Bank of New York’s decision regarding disclosure of payments to AIG […]

Mixing Target Date Funds May Harm Portfolio

By Gregg D. Killoren, J.D., CCH State Banking Law Reporter, Bank Digest and Individual Retirement Plans Guide, Jan. 26, 2010. Plan participants who invest in target date funds along with other funds could end up with a potentially inferior portfolio in terms of risk/return tradeoff, according to a study published by the Employee Benefit Research […]

White House Seeks Additional Bank Restrictions

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, Jan. 21, 2010. The White House announced Jan. 21, 2009, that it is proposing additional financial regulatory reforms aimed at reducing risk and preventing further concentration in the financial system. “While the financial system is far stronger today than it […]