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October 22, 2012
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Daily news for the equipment finance sector

  Industry News 
  • GE on course for record U.S. wind-power installations in 2012
    General Electric is on pace to establish a new company record for wind-power installations in the U.S. this year, topping its previous record of 3.99 gigawatts in 2009, said Matt Guyette, general manager for strategy and market development at GE Wind and Solar. GE's projections are in tune with the American Wind Energy Association's forecast that the U.S. will install somewhere between 12 GW and 13.5 GW in wind capacity this year, Guyette said. "We haven't released our numbers, but it will be a record year in the U.S.," Guyette said. RechargeNews.com (tiered subscription model) (10/19) LinkedInFacebookTwitterEmail this Story
  • Small business lending fund falls short of original goals
    A $30 billion plan to help provide loans to small businesses does not appear to have fulfilled its original expectations. The idea was that community banks would leverage the money received under the plan, part of the Small Business Jobs Act, to increase lending to small businesses. In many cases, banks have used the money to shore up balance sheets. Bloomberg Businessweek (10/18) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Stronger but still weak third-quarter growth is seen for U.S.
    A poll of U.S. economists yields a prediction of a 1.8% annual growth rate for gross domestic product in the third quarter, up from 1.3% in the preceding period. A jump in consumer spending is credited for the expected rise, which nonetheless would mark the first two successive quarters of sub-2% growth since the country began emerging from recession in 2009. Bloomberg Businessweek (10/21) LinkedInFacebookTwitterEmail this Story
  • GDP figures are expected to show U.K. emerging from recession
    The U.K. government is likely to receive bragging rights with third-quarter figures expected to show 0.8% growth in gross domestic product, ending the country's longest double-dip recession since World War II. However, economists note the results will be inflated by one-time factors such as the Olympics and a bounce-back from a June bank holiday. The Guardian (London) (10/20) LinkedInFacebookTwitterEmail this Story
  • China's yuan steadily replaces U.S. dollar in East Asia
    Many emerging market countries, concerned that the Federal Reserve's policies are destabilizing their economies, are linking local currencies to China's yuan, displacing the U.S. dollar as the key international currency, according to the Economist. "The greenback has in the past played a dominant role in East Asia," the magazine notes. "But if anything, the region is now on a yuan standard." The Economist (10/20) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • Basel Committee will take a close look at securitization
    The Basel Committee on Banking Supervision plans a review of how securitization is regulated, said Secretary-General Wayne Byres. "What will come out before the end of the year will be more a concept paper than a detailed set of rules," he said. "It'll pose some questions." Bloomberg (10/22) LinkedInFacebookTwitterEmail this Story
  • U.K. regulators aim to tackle high-speed trading
    Vince Cable, the U.K.'s secretary of state for business, innovation and skills, says he's ready to seek better risk management of computer trading. The notion is that while algorithmic trading has enhanced liquidity, it falters when it is most needed, such as during a crisis. The Telegraph (London) (10/20) LinkedInFacebookTwitterEmail this Story
  • SEC's new capital rule for derivatives may be doomed
    With the option for big U.S. banks to monitor their own risk internally, the Securities and Exchange Commission's proposal that banks hold more capital for their securities derivatives may fail, observers say. The complex modeling that banks will use may enable them to simply produce the result they want, some point out. "You have to ask the question: If the regulators can't figure out the value-at-risk modeling, what is the point of all this?" asks former Goldman Sachs banker Wallace Turbeville. MarketWatch (10/19) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  ELFA News 
  • Attention all Annual Convention attendees: Upload your photo to the attendee list
    New this year! Photos have been added to the Full List of Attendees for the ELFA Annual Convention. You can add your photo to your ELFA profile very easily. Log in to the ELFA website at www.elfaonline.org with your user name and password. Once logged in, click on Account Tools. You can upload your photo by clicking on Add/Edit Photo. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
The importance of money flows from it being a link between the present and the future."
--John Maynard Keynes,
British economist


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