Hints and tips:
Related Special Reports
From Christos Rotsas, Former Member of Parliament, Nicosia, Cyprus
...The Swiss are probably too polite to point out to the FDIC chair that this was certainly an unfortunate precedent. Alex J Pollock Senior Fellow, Mises Institute, Lake Forest, IL, US...
...An FDIC spokesperson declined to comment. The date and agenda of the next FDIC board meeting are expected to be announced shortly....
...Since 1991, federal law has subjected the FDIC to a “least cost test”....
...McKernan sought to set up an FDIC-run compliance programme for large index fund managers that say they are seeking to be “passive” investors in FDIC-supervised banks....
...Last week, private equity firm Brookfield sent a letter to the FDIC claiming the auction process had been “secretive” and warned it may contest the outcome....
...The move ends a stand-off between the banking regulator’s Democratic leadership and its two Republican board members, who last week called for FDIC chair Martin Gruenberg to recuse himself from the inquiry...
...Even if that were to happen, Bair said the turmoil at the FDIC would not stop the implementation of newly proposed capital rules — so-called Basel III Endgame — that are opposed by the industry....
...“It’s quite clear that we’ve had employees at the FDIC subjected to horrendous experiences that simply are unacceptable and can’t be tolerated,” Gruenberg said. Read more on the FDIC here...
...Gruenberg said Baker Hostetler would lead an independent “top to bottom” assessment of the FDIC’s workplace and the alleged conduct....
...“The current FDIC statement of policy on bank merger transactions was last published for comment in 1997, and was subsequently revised in 2002 and 2008,” said the head of the FDIC Martin Gruenberg....
...Read more about FDIC here....
...Letters in response to this article: FDIC Swiss stance — case of pot calling kettle black / From Alex J Pollock, Senior Fellow, Mises Institute, Lake Forest, IL, US FDIC has a short memory / From Christos...
...The FDIC takes over US lenders when they fail and brokers deals to sell what remains....
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
...The FDIC was the primary federal regulator for both First Republic and Signature before they collapsed....
...The FDIC’s first in-depth report into California-based First Republic’s collapse in April put the blame squarely on “a loss of market and depositor confidence” that had been triggered by the earlier failure...
...In 2020, the FDIC’s inspector-general found that the agency’s sexual harassment policies were inadequate at preventing abuse. The FDIC at the time vowed to improve its practices....
...Ponzi (New York Magazine) — Former Fed vice chair Randal Quarles on bank-capital regs, SVB and stress tests (Intrafi’s ‘Banking with Interest’ podcast) — Nelson Peltz vs Bob Iger, The Sequel (Puck) — FDIC...
...The FDIC’s proposal would be the first update to its bank merger rules since 2008 and is subject to a 60-day comment period....
...An FDIC spokesperson did not immediately respond to a request for comment from Gruenberg....
...Brookfield Property Group said the FDIC was running a “secret” process to sell Signature Bank loans....
...Nonetheless, the FDIC indicated that most of the banks on the list were either small or mid-sized lenders....
...The group will purchase its 20 per cent equity stake in the joint venture for $1.2bn, while the FDIC will own the remaining 80 per cent....
International Edition