Yellen plans on skipping this year's Jackson Hole conference WASHINGTON- It turns out that being the first woman to head the Federal Reserve is not the only tradition Janet Yellen is breaking. The Fed said Tuesday that she plans on skipping this year's gathering of the world's central bankers at Jackson Hole, Wyoming. The faithful attendance of Yellen's three predecessors- Paul Volcker, Alan Greenspan and Ben Bernanke-...
Source: The Associated Press
| By: By MARTIN CRUTSINGER, AP Economics Writer
UPDATE 1-EU vote sends draft law to rein in bank risks back to drawing board LONDON, May 26- A panel of European Union lawmakers narrowly rejected a draft law aimed at curbing trading risks at banks after they failed to bridge a deep divide between the main parties. The European Parliament's economic affairs committee voted to reject the draft law on bank structural reform by 30 votes to 29 in a relatively rare move.
| By: Huw Jones
U.S. rejects Canada's claim that Volcker rule violates NAFTA NEW YORK, May 14- The White House has dismissed the Canadian government's claim that a ban on some proprietary trading on Wall Street violates a free-trade agreement, saying it has the legal right to protect its financial system. The rule, adopted in 2010 but delayed in implementation, is meant to curb the risky proprietary trading blamed for worsening the...
| By: Jonathan Spicer
Fitch: Corporate Bond Liquidity a Major Concern for US Investors NEW YORK& LONDON---- US credit investors expressed high levels of concern about secondary corporate bond market liquidity in the latest Fitch Ratings/Fixed Income Forum senior investor survey. Participants noted that the liquidity issue is the largest risk to markets as a whole and that the next downturn and/or period of weaker sentiment could be more...
Source: Business Wire