News Topic: Treasurys
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Only Congress can smooth the Libor transition
Libor is dead. Long live choice.
Key capital measure not working as Fed intended, Powell says
Fed 'likely' to tweak capital measure because of pandemic, Quarles says
Banking regulators will let temporary capital relief expire as scheduled
The decision is seen as a setback for the banking industry, which had been pushing for and extension, and a win for Democrats, who have argued that a pandemic is no time for banks to be shedding capital. ]] ... Read full article
D.C. power shift complicates Fed decision on capital rule
The industry wants regulators to extend a temporary measure making it easier to satisfy the supplementary leverage ratio. But Democrats’ control of the White House and Congress has given a bigger platform to those who say banks have had enough relief. ... Read full article
Nonbank sector needs reform to combat risk to financial stability: Fed
Temporary policy responses have mitigated problems in the short-term funding markets related to the pandemic, but permanent fixes may be necessary in some areas, the agency said in a report. ... Read full article
Industry wins key concession in liquidity rule
Regulators said they will allow banks to deduct Treasury securities — a source of market volatility in the pandemic — from the net stable funding ratio on the same day they provided relief from auditing requirements. ... Read full article
Repo blowup was fueled by big banks and hedge funds, BIS Says
The market was upended because the largest banks hold more liquid assets in Treasuries than at the Fed, limiting their ability to supply repo funding on short notice, according to a new analysis from the Bank for International Settlements. ... Read full article
How BNY Mellon is going further on AI
The custody bank has deployed more than 300 bots and is using artificial intelligence throughout the organization. ... Read full article
Fed to start buying $60 billion of Treasury bills a month
The Federal Reserve said it will begin buying $60 billion of Treasury bills per month to improve its control over the benchmark interest rate it uses to guide monetary policy after turmoil rocked money markets in September. ... Read full article
EU to regulate Libra; Robinhood joins online deposit war
The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances. ... Read full article
JPMorgan's contrarian move: Stockpiling securities
The bank started buying more Treasurys and mortgage-backeds over a year ago, long before talk about rate cuts. What did it know that its rivals didn't? ... Read full article
Lower securities yields could squeeze banks' 3Q profit, report says
M&T Bank, Zions and Comerica are among the regional banks facing the most pressure on net interest margins, Wells Fargo analysts said in a research note to investors. ... Read full article