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News & Commentary
Content tagged with Compliance posted in March 2010
604 Banks Disappeared in 2009 - For Good and Bad Reasons
News  |  3/30/2010
Bank Population Accounting: January 1, 2009 16,374 Add de novos 26 (185 in 2007 before the crunch) Deduct failed banks 140 Deduct acquired banks 464 December 31, 2009 15,796 (This 3.5% net reduction compares to a 2.4% average during the past 16 years)
Mark to Market Lending: FASB Dances on Banking's Toes
News  |  3/24/2010
This column is not about banking's version of "Dancing with the Stars." Rather, the issue of mark to market may return to the table. Most observers, including yours truly, agree that the doomsday financial meltdown scenario has passed. With a few notable exceptions, the largest financial institutions have survived the crisis and are returning to profitability. However, many mid-size and smaller banks are still struggling. Now, the Financial Accounting Standards Board (FASB) may stomp (not dance)
FSA Seeks to Make Banks, Brokers Record Some Cell Phone Calls
News  |  3/22/2010
Mobile phone conversations related to orders and transactions in the equity, bond and financial and commodity derivatives markets would need to be stored for six months, at an annual cost to the industry of $27 million.
Dodd Tells PBS Newshour Why His Bill Gives the Fed Consumer Protection Oversight
News  |  3/16/2010
Senator Christopher Dodd, chair of the Senate Banking Committee, discussed his new unveiled financial reform bill with Judy Woodruff on PBS Newshour last night. Dodd's version of the bill would give the Federal Reserve the power to regulate any firm with more than $50 billion in assets and would embed a new consumer protection agency within the Fed.
The Economic Recovery Has Begun
News  |  3/9/2010
First, let me come clean with this admission. I am not a Gartner or Forrester visionary who puts a "Good Housekeeping" label on all he surveys. I'm the guy in the trenches and the quintessential errand boy who is always out there, whether it be on assignment or running errands for Mrs. Gillis. The fun part is that Mrs. Gillis also drags me out on mini vacations to take a little break and enjoy the "world."
FSA Eases Liquidity Rules Until Q4
News  |  3/8/2010
Due to ongoing economic uncertainty, new rules around liquidity for British banks are being put on hold until late this year.
FDIC's Plan to Sell Troubled Loans Could Cause More Bank Failures, Bloomberg Reports
News  |  3/8/2010
To those who believe much of the recent credit crisis was caused by the securitization and sale of subprime debt to investors, paired with credit default swaps based on those obligations, the FDIC's plan to auction more than $1 billion in assets seized from failed banks next month is puzzling.
Top 8 Provisions of the Senate's Financial Reform Bill
News  |  3/2/2010
As Christopher Dodd, chairman of the Senate Committee on Banking, Housing and Urban Affairs, tries to get his colleagues to pass his financial reform bill as soon as he can (possibly this week), we bring you the major provisions of the 1,139-page legislation.

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