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Wall Street banks ask Fed for five more years to comply with Volcker rule

Big Wall Street banks are asking the Fed to grant them an additional five-year grace period to comply with a financial reform regulations.

Source: Reuters

EXCLUSIVE-Wall St. banks ask Fed for 5 more years to comply with Volcker rule

Aug 11- Big Wall Street banks are asking the U.S. In deciding whether to grant Wall Street more leeway, the Fed has asked banks to provide details on their specific investments to prove that they fall under the statutory definition of "illiquid," said the people, who requested anonymity to discuss non-public regulatory discussions. They are making their push in...

Source: Reuters

SAFT ON WEALTH-Potential for a loss unlike any other for bonds: James Saft

Aug 3- A bond market unprecedented in history means investors face the risk of potentially unprecedented losses. Fitch Ratings published a study this week finding that if global sovereign bond yields revert just to where they were in 2011, investors would suffer losses of as much as $3.8 trillion, a bit more than 10 percent of the $37.7 trillion in outstanding...

Source: Reuters

Keith Noreika Joins Simpson Thacher’s Financial Institutions Practice

NEW YORK---- Simpson Thacher& Bartlett LLP announced today that Keith Noreika, a leading bank regulatory attorney, has joined the Firm’ s Financial Institutions Practice as a Partner in the Washington, D.C. office. “We are extremely pleased to welcome Keith to the Firm,” said Bill Dougherty, Chairman of Simpson Thacher’ s Executive Committee.“ He is a leader in his field and...

Source: Business Wire