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March 11, 2013
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News on the capital markets, securities and financial industry

  Morning Bell 
 
The Leader in OTC IRS Clearing
SwapClear is LCH.Clearnet's global clearing service for interest rate swaps. We have over 12 years’ experience, unparalleled risk management and more clearable IRS products than any other clearing house. That's just part of what earned LCH.Clearnet AFTA Best Risk Analytics Initiative and FOW's Clearing House of the Year awards for 2012. swapclear.com
  Industry News 
 
  • BIS study suggests size does matter in foreign exchange
    The Bank for International Settlements has released a study that suggests bigger banks with more market share in foreign exchange have an advantage over smaller dealers. "The trend towards more market concentration observed in FX markets over recent years clearly benefits large financial institutions acting as dealers and potentially trading on this information in the inter-dealer market," according to the study. The Wall Street Journal/Dow Jones Newswires (3/8) LinkedInFacebookTwitterEmail this Story
  • CMBS delinquency rates continue to drop, Fitch says
    For the ninth consecutive month, delinquency rates on commercial mortgage-backed securities declined, falling from 7.91% in January to 7.61% in February, according to Fitch Ratings. The rating agency expects the trend to continue. "With many loans over $100 million still in the index, steep month-over-month declines in CMBS delinquencies are likely to continue as larger loans get resolved," said Mary MacNeill, managing director at Fitch. The Wall Street Journal/Dow Jones Newswires (3/8) LinkedInFacebookTwitterEmail this Story
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Washington Roundup 
 
  • SEC denies Goldman request to omit proxy proposal
    The Securities and Exchange Commission will not give Goldman Sachs Group permission to leave out a proposal in the company's proxy statement that would split the chairman and CEO titles that Lloyd Blankfein holds. CTW Investment Group brought the proposal and seeks to fill the chairman's role with a company outsider "to promote the robust oversight and accountability of management." Reuters (3/8) LinkedInFacebookTwitterEmail this Story
  • Analysis: "Stress-test" results differ from market indicators
    The Federal Reserve's most recent round of "stress tests" show that Citigroup is safer than JPMorgan Chase. The result contrasts with credit ratings, and the prices for credit default swaps, which indicate JPMorgan is safer, and has some analysts questioning whether the tests can accurately measure the safety of the biggest banks. "At the end of the day, there is a legitimate question about the ability of regulators to fully evaluate $2 trillion institutions because of the complexity and exposures they have," said Fred Cannon of Keefe, Bruyette & Woods. Reuters (3/9) LinkedInFacebookTwitterEmail this Story
  • Commentary: SEC and CFTC should be self-funded
    Recent federal budget cuts highlight the importance of regulatory agencies being self-funded, write former Commodity Futures Trading Commission Chairman Brooksley Born and former Securities and Exchange Commission Chairman William Donaldson. The SEC and CFTC should be funded by the industry they regulate and not by the congressional appropriations process, write Born and Donaldson, who are both members of the Systemic Risk Council. Politico (Washington, D.C.) (3/10) LinkedInFacebookTwitterEmail this Story
  • Commentary: "Too-big-to-fail" challenge needs to be addressed
    Richard W. Fisher, president and CEO of the Federal Reserve Bank of Dallas, and Harvey Rosenblum, the Dallas Fed's executive vice president and director of research, write that measures in place to resolve the problem of banks becoming "too big to fail" are insufficient. They recommend further action, including fine-tuning deposit insurance, making a lack of government guarantees explicit, and restructuring larger entities. The Wall Street Journal (3/10) LinkedInFacebookTwitterEmail this Story
Big Data is revolutionizing trading. Get in on it.
Today's financial firms are faced with intensive regulatory scrutiny, new compliance demands and the need to make better, more transparent decisions. It's all about data. These articles show how banks, capital markets and other financial institutions can derive the most value from the complex, fast-paced data pouring into their organizations.

  Hot Topics 

Top five news stories selected by SIFMA SmartBrief readers in the past week.

  • Results based on number of times each story was clicked by readers.
  SIFMA News 
  • SIFMA Newsletters: Regular updates on an array of financial industry topics
    SIFMA's topic-focused newsletters will provide you with timely and informative summaries of key developments to keep you informed of the changing environment of the financial services industry landscape. Choose from a broad range of industry topics including: municipal securities, securitization, rates, retirement and savings, derivatives as well as major regulatory and legislative actions on Capitol Hill and across the globe that affect the financial services sector, and more. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
The greatest way to live with honor in this world is to be what we pretend to be."
--Socrates,
Greek philosopher


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