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December 28, 2012
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News on the capital markets, securities and financial industry

  Morning Bell 
  Industry News 
  • Central banks increase U.S. Treasury holdings worldwide
    The Federal Reserve's holdings of U.S. securities maintained for foreign central banks rose $4.502 billion in the week ended Wednesday, the Fed said. This is despite the decline of securities guaranteed or issued by Fannie Mae and Freddie Mac that are held by foreign institutions, which fell $4.148 billion, to $311.05 billion. CNBC/Reuters (12/27) LinkedInFacebookTwitterEmail this Story
  • Expiration of crisis program may be boon for some asset classes
    The Transaction Account Guarantee, which lifted the $250,000 limit on Federal Deposit Insurance Corp. insurance of noninterest bearing checking accounts, expires this week, and according to a Federal Reserve survey, Wall Street expects borrowers to take some cash out of those accounts in response. Without the added guarantee, survey responders expect some money to be spread into safe securities like Treasury bills or money market funds. CNBC/Reuters (12/27) LinkedInFacebookTwitterEmail this Story
  • Alexandra Lebenthal brings back the family muni-bond business
    The once-prominent Lebenthal municipal bond business, whose name disappeared when Merrill Lynch bought it in 2005, is back doing business on Wall Street. Lebenthal & Co., led by CEO and principal owner Alexandra Lebenthal, is now the biggest woman-owned stock and bond underwriter in the U.S. CNNMoney/Fortune (12/12) LinkedInFacebookTwitterEmail this Story
  Washington Roundup 
  • FINRA fines 5 Wall Street banks over payments to lobbyists
    The Financial Industry Regulatory Authority said it imposed fines of just over $4.48 million on five Wall Street banks for improperly attempting to obtain reimbursement for payments to lobbyists from the proceeds of state and municipal bond sales. The regulator said the banks asked for the refund of fees paid to the California Public Securities Association by claiming that lobbying payments were underwriting expenses. Reuters (12/27) LinkedInFacebookTwitterEmail this Story
  Operations Update 
  • Top priority for 2013: Keep markets calm and reliable
    Regulators and exchange operators will face pressure in 2013 to find ways to get the markets to calm down and make sure they operate reliably even under unusual conditions, Mary Schroeder and Tom Steinert-Threlkeld write. Efforts toward these ends began in 2010, but the market disruptions of 2012 made it clear there is a lot more to be accomplished, Schroeder and Steinert-Threlkeld write. Traders Magazine Online (12/27) LinkedInFacebookTwitterEmail this Story
  SIFMA News 
  • Take advantage of early-bird rates for SIFMA Tech 2013 -- June 18-19 -- New York City
    As the financial services industry's technology evolves, so does SIFMA's Tech Conference. SIFMA is taking this 30-year tradition to new levels in 2013. SIFMA Tech 2013 will again be a focal point for industry leaders, regulators and solution providers, but in a new and dynamic forum. Save the date! Better yet, take advantage of early-bird rates to learn how you can harness cutting-edge technology to achieve a technological infrastructure that keeps your firm at peak efficiency and keeps your clients better served. LinkedInFacebookTwitterEmail this Story
  • REGISTRATION NOW OPEN: 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 and give yourself the opportunity to engage leading industry experts on the latest regulatory developments and industry trends. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
If all misfortunes were laid in one common heap whence everyone must take an equal portion, most people would be contented to take their own and depart."
--Socrates,
Greek philosopher


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