Hints and tips:
...The most colourful lines came from John Ray III, FTX’s court-appointed chief executive, who trashed SBF’s management in a lengthy testimony before Congress....
...(iii) Such a property wealth tax would cause a large industry of tax avoidance....
...Christopher Joseph Sanfeliz, 24 Sanfeliz was a native of Cuba who worked for JPMorgan Chase in Florida....
...A couple of weeks ago, Joseph P Kennedy III, the latest member of the mighty Kennedy family to enter American politics, travelled to New York from his congressional seat in Boston to attend a fundraising...
...Judge Thomas P Griesa has come down very hard on the idea of Argentina swapping its restructured bonds out of New York law into local law, in order to avoid paying holdouts alongside them....
...Plans to adjust risk-weightings for mortgages were abandoned in the Fed board’s approval of the Basel III regime (Wall Street Journal)....
...The S&P 500 closed up 0.02 per cent at 1,652.62 (Reuters)....
...ROUND-UP Fresh record high for the S&P 500. The index rose 1.36 per cent to close at 1,675.02. The Nasdaq also hit its highest level since October 2000 (Reuters)....
...Indeed, US stocks recorded a fourth successive day of gains, with the S&P 500 closing just 1 per cent below May’s record close, as gloomy forecasts for global growth from the International Monetary Fund...
...The S&P 500 rose 0.1 per cent to 1,682.50, eking out an eighth day of gains (Bloomberg)....
...The S&P 500 closed up 1.5 per cent at 1,636, its strongest performance since January (Bloomberg). The Dow rose 1.2 per cent. The US concluded that chemical weapons have been used in Syria....
...And then there’s the mandate to reduce risk-weighted assets as the bank (and the industry) rolled towards Basel III....
...It has already transferred rights on $300bn of home loans in two deals this week, in response to Basel III capital rules that will make it costlier to hold MSRs....
...But, as Joseph notes, that “restructuring” might have some side-effects, including an acceleration on other bonds....
...It closed up 1.7 per cent at 12,795.96, while the S&P 500 gained 2 per cent to close at 1,386.89. Markets closed before news of the Moody’s French downgrade....
...Morgan Stanley’s Basel III capital ratio rose to 9 per cent in the third quarter (Financial Times)....
...5589, marginal no. 19; Kube, WM 2012, p. 245 <246 ff.>; Bundestag printed papers 17/9045, p. 29; 17/9047, p. 4; on the reference of the TESM to European Union law see Rathke, DÖV 2011, p. 753 <759-260>;...
...If Goldman chooses to speed up the mitigation process, there could be some P&L impact, but its capital ratios will get closer to the Basel III G-SIFI guidelines meaningfully faster....
...Fitch believes JPM continues to be well prepared to meet the minimum standards under Basel III....
...It is the so-called Basel III common ratio… M&T has not given out its own estimate of Basel III capital. The bank’s chief financial officer, Rene F....
...Behold — what could be the largest natural catastrophe bond ever: That’s S&P’s ratings doc for Everglades Re Ltd....
...The S&P 500 closed down 0.25 per cent to 1,402 and the DJIA fell 0.08 per cent to 13268. Weak ADP numbers added to the gloom spread by awful European PMI data (Wall Street Journal)....
...The offloading of assets held in the Fed’s Maiden Lane III portfolio closes a chapter on one of the most contentious bailouts of the financial crisis....
...Maiden Lane III auction....
...Joseph takes you through the highlights....
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