BankThink

Receiving Wide Coverage ...

Big Brother and Banking: The financial services industry has made a few cameos in the unfolding story of the National Security Agency's vast surveillance of phone "metadata" and Internet communications. First, Edward Snowden, the (probably now former) Booz Allen contractor who leaked NSA documents to the Guardian and the Washington Post, says he grew disillusioned while working for the CIA in Geneva in 2007. "CIA operatives were attempting to recruit a Swiss...

A recap of the informed opinions (and the discussions they generated) on BankThink and AmericanBanker.com this week.

Receiving Wide Coverage ...

Libor Update: Some big Libor news this Friday morning, courtesy of the Wall Street Journal — U.K. and U.S. authorities are preparing to file criminal charges against former Barclays employees for their alleged roles in the London interbank offered rate-rigging scandal. Sources familiar with the matter tell the paper charges are "likely to be filed this summer," but that "the plans aren't finalized and could be delayed or modified." The sources don't...

As the government banishes home loan products deemed unsuitable for most borrowers, why does it continue to backstop one that’s pitched to aging seniors – mainly by nonbank lenders?

Receiving Wide Coverage ...

SEC's Money Market Plan: The Securities and Exchange Commission has (finally) proposed rules to overhaul the money market fund industry. The rules present two alternatives. One would require prime funds to abandon their $1 fixed share price and use a floating net asset value, allowing share prices to reflect changing market-based value. The other permits stable share prices, but would impose temporary suspensions (or "gates") and 2% liquidity fees on redemptions in...