Federal Governor Daniel Tarullo said regulators should put their attention not only on banks but on the shadow banking system as well. He said policy options for shadow banks needed to be reformulated to counter its risks.
Tags: Federal Reserve
FED trims monthly bond purchases to $75B
The Federal Reserve said it will be trimming its monthly bond purchases to $75 billion from $85 billion in its first move to start tapering, Bloomberg reported.
As Fed looms, Morgan Stanley sets sale of US oil terminal business
Morgan Stanley has launched a formal effort to sell its controlling stake in U.S. oil terminal and transport business TransMontaigne, four sources said on Wednesday, following other Wall Street powerhouses in yielding to intense regulatory pressure to get out of commodity investments.
Pioneer Investments recommends trimming of US equities holdings
Giordano Lombardo, the Group Chief Invesment Officer of Pioneer Investments, said investors should consider pruning their US equities holdings as the economy shows signs of improvement, according to a Bloomberg report.
US tech giant Microsoft raises USD8 billion in combined dollars-euros bond offering
Washington-based tech company Microsoft Corp sold a record offering of USD8 billion of bonds in dollars and euros to fund general corporate purposes, according to regulatory filings today.
Latest News
The United States could start missing payments on its obligations some time between March and June if lawmakers don't raise a legal limit on borrowing by early February, congressional analysts said on Wednesday.
Federal Reserve officials felt they could decide to start scaling back the U.S. central bank's massive asset purchase program at one of its next few meetings, provided this was warranted by economic growth, minutes of the Fed's October policy meeting showed.
Russia's state-run oil firm Rosneft is looking to acquire Morgan Stanley's oil trading business for an unspecified amount. Morgan Stanley has been trying to sell or spin off the said business unit over a year ago.
Investors remain inclined to take markets higher in the absence of anything that would suggest equities should fall. The market seems to have hit a stage where strong data helps and weak data affirms the Fed's intentions to keep policy accommodative, which also helps stocks.
While banks received USD2.3 billion in quantitative easing, they haven't been lending to small businesses and consumers and have pushed then to peer-to-peer lenders.
Friday is the first day of sales for Sony's PlayStation 4 interactive gaming console. GE holds an meeting for investors and analysts focused on its GE Capital business. The Federal Reserve releases its report on U.S. industrial production.
Cisco is expected to report higher quarterly profit for its fiscal first quarter of 2014. The report may uncover any evidence of sales pressure from the U.S. federal government shutdown and weakness in China.
This is a summary of key economic events and central bank speeches, likely to affect the global economy through the foreign exchange, equity and debt markets.
In response to developments in US economy, Fed officials scaled back asset purchases. In a report by Reuters, the Federal Reserve scaled back asset purchases following the slow improvement of the US economy.
