News Centre

Federal Court Orders James C. Yadgir Of Palatine, Illinois To Pay $130,000 Penalty For Violating Speculative Position Limits For Cattle Futures

Date 29/04/2014

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Sara L. Ellis of the U.S. District Court for the Northern District of Illinois entered a final judgment and consent Order for permanent injunction against James C. Yadgir of Palatine, Illinois, who has been registered with the CFTC as floor trader since 1993 and as floor broker since 2007. The Order settles charges that Yadgir exceeded speculative position limits in live cattle futures contracts on one day and feeder cattle futures contracts on two other days. The Order requires Yadgir to pay a civil monetary penalty of $130,000 and permanently prohibits him from violating speculative position limits of a registered entity, which have been either approved by the CFTC or certified by a registered entity.

ECB To Give Banks Six To Nine Months To Cover Capital Shortfalls Following Comprehensive Assessment

Date 29/04/2014

• Banks will be expected to cover capital shortfalls within six to nine months after the disclosure of the results of the comprehensive assessment.

• Capital shortfalls arising from the asset quality review and baseline stress test scenario must be covered by Common Equity Tier 1 (CET1) capital instruments.

• Capital shortfalls stemming from the adverse scenario can be covered in other ways, but the use of convertible capital instruments is subject to limits designed to support the use of instruments with higher triggers. The instruments with a trigger at or above 7% CET1 qualify to cover the shortfall up to 1% overall RWA.

• The outcome of the asset quality review will influence the results of significant banks taking part in the EBA stress test exercise. Combining the point in time asset quality review with the forward-looking stress test is the key strength of the comprehensive assessment.

European Commission: Business Climate Indicator Decreased Slightly In April

Date 29/04/2014

In April 2014 the Business Climate Indicator (BCI) for the euro area decreased slightly by 0.13 points to +0.27. Managers' evaluation of the past and expected production, as well as of the current level of export order books worsened, while their assessment of overall order books improved and their appraisal of the stocks of finished products remained broadly unchanged.

Office Of The Comptroller Of The Currency Hosts Nashville Workshop For New And Experienced Bank Directors

Date 29/04/2014

The Office of the Comptroller of the Currency will host a workshop in Nashville, Tenn., at the Holiday Inn Nashville Opryland Airport, June 2-4, for directors of national community banks and federal savings associations.

April 2014: Economic Sentiment Slips In The Euro Area, Rises Further In The EU

Date 29/04/2014

In April the Economic Sentiment Indicator (ESI) decreased slightly in the euro area (by 0.5 points to 102.0), while it continued to increase in the EU (by 0.9 points to 106.2).

Statement By Michel Barnier On The EBA Publication Of Key Components Of The Common Methodology For The 2014 EU-Wide Stress Test

Date 29/04/2014

I welcome today's publication by the European Banking Authority (EBA) of the key components of the forthcoming 2014 EU-wide stress test. The EBA has delivered a robust stress test methodology and a tough adverse scenario. The purpose of the exercise is to identify any remaining vulnerabilities in the EU banking sector in order to make it more resilient and to provide a high level of transparency on EU banks' exposures.

EBA Publishes Common Methodology And Scenario For 2014 EU-Banks Stress Test

Date 29/04/2014

The European Banking Authority (EBA) released today its methodology and macroeconomic scenarios for the 2014 EU-wide stress test. While the extensive process of banks' balance sheet repair is already underway, the test, designed to assess banks' resilience to hypothetical external shocks, will identify remaining vulnerabilities in the EU banking sector and will provide a high level of transparency into EU banks' exposures.

Testimony Of US Treasury Secretary Jacob J. Lew Before The House Appropriations Subcommittee On Financial Services And General Government

Date 29/04/2014

Chairman Crenshaw, Ranking Member Serrano, members of the Subcommittee, thank you for giving me the opportunity to speak about the Treasury Budget.  The President’s FY 2015 Budget requests $13.8 billion to fund the Department’s operating bureaus.  This includes an important increase for the Internal Revenue Service and a decrease for the rest of the Department, which I will cover in more detail below.

ACER Opens Consultation For Tackling The Upcoming Challenges Of The Single EU Energy Market

Date 29/04/2014

The Agency for the Cooperation of Energy Regulators (ACER) has presented today in Brussels its strategic document Energy Regulation: a Bridge to 2025, which identifies the main challenges that the EU energy market integration process will face over the next ten years, such as the integration of renewables and the need for an improved governance structure able to facilitate decision making at EU level. The document proposes that enhancements in the design of electricity and gas markets may be required for delivering tangible benefits to consumers, such as the capacity for EU citizens to change energy supplier within 24 hours.  ACER also opens today a public consultation on this document for stakeholders to contribute by 16 June 2014. 

Deutsche Börse: Growth Financing For Startup Companies – Package Deal Needed

Date 29/04/2014

Deutsche Börse: Deutsche Börse is currently looking into options for financing startup companies by offering and facilitating financing via capital markets, in line with its principles of integrity, transparency and investor protection.