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January 10, 2013
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News on the capital markets, securities and financial industry

  Morning Bell 
 
  • Favorable tax treatment of munis is still up for debate
    The tax break that municipal bonds retained in the resolution to the "fiscal cliff" may be short-lived as lawmakers still have to contend with sequestration. President Barack Obama has suggested limiting the tax break at 28% instead of 39.6%, the current top level. "If and when there is a serious attempt to make substantial reforms to the tax code, I think that there's a risk that the tax exemption could be curtailed or eliminated," said Michael Decker, managing director at SIFMA. Bloomberg (1/9) LinkedInFacebookTwitterEmail this Story
6 Best Practices to Continuous Planning Success
Whether you call it 'forecasting' or 'planning', the key is to enable a continuous process that delivers real-time, up-to-date information to drive effective business decisions. Download this whitepaper to learn how you can bring everyone in your organization into your planning process.

  Industry News 
  • Moody's reports drop in default rate for high-yield debt
    Moody's Investors Service says the global default rate for high-yield bonds reached 2.6% in the fourth quarter, declining 0.6 percentage point from Q3. The rate was lower than the historical average of 4.8% dating to 1983. Moody's says the rate likely will hit 3.3% in Europe and 3% in the U.S. this year. Bloomberg (1/9) LinkedInFacebookTwitterEmail this Story
  Washington Roundup 
  • Banks are told not to leverage LCR's delayed introduction
    National regulators are telling banks they cannot shrink buffers already put in place to comply with Basel III's liquidity-coverage ratio simply because implementation has been changed to a staggered timeline. "It's still possible the liquidity requirements ... are in fact providing an incentive for banks to either deleverage or expand their lending by less than they would have otherwise done," Bank of England Governor Mervyn King said. Risk.net (subscription required) (1/9) LinkedInFacebookTwitterEmail this Story
  Operations Update 
  SIFMA News 
  • Early-bird rates: SIFMA C&L Society Annual Seminar -- March 17-20 -- Phoenix, Ariz.
    SIFMA's Compliance & Legal Society Annual Seminar 2012 was attended by 1,700+ financial industry legal and compliance professionals and featured more than 60 panels and sessions, creating the premier forum to discuss the issues and share expertise and insights into critical topics for varied interests. The 2013 program in Phoenix, Ariz. on March 17-20 will be no different. Registration is now open for this industry tradition. Be sure to attend this year and give yourself the opportunity to engage leading industry experts on the latest regulatory developments and industry trends. Act now and register before the early-bird rates expire Feb. 1. LinkedInFacebookTwitterEmail this Story
  • SIFMA Social Media Seminar -- Feb. 28 -- San Francisco
    This popular event moves to the West Coast for a full-day seminar featuring in-depth panels on marketing, business and practitioner experience with social media, as well as practical advice on the legal and compliance issues faced by the expanding use of interactive technology for business purposes. Learn the practices and processes that will help your firm navigate these new communication platforms. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Luck enters into every contingency. You are a fool if you forget it -- and a greater fool if you count upon it."
--Phyllis Bottome,
British writer


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