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CFTC Swaps Report Update

Date 18/01/2017

CFTC's Weekly Swaps Report has been updated, and is now available.

World Economic Forum: Carbon Pricing Vital To Avoid Coal-Powered Climate Catastrophe

Date 18/01/2017

Setting a realistic price of $20 per tonne of CO2 emissions is vital to wean the world off coal power
To meet the Paris targets, there is no space for new coal, and existing coal power must be retired early
The public must play its part by embracing energy efficiencies and reducing consumption
For more information on the meeting, see http://wef.ch/davos17
Follow the World Economic Forum on all digital platforms: wef.ch/follow

Speech By Federal Reserve Chair Janet L. Yellen, At The Commonwealth Club, San Francisco, California, January 18, 2017, The Goals Of Monetary Policy And How We Pursue Them

Date 18/01/2017

Watch live: https://www.facebook.com/pages/Commonwealth-Club-of-California/108879409056?ref=ts

Good afternoon. It is a pleasure to join all of you at the Commonwealth Club for lunch today, not the least because the club and the Federal Reserve have a few things in common. Both organizations, as it happens, have a board of governors and a chair. And both the club's and the Fed's histories extend back more than a century. The club, as many here know, was founded in 1903, and the Federal Reserve a decade later. Perhaps because of our shared origins in the Progressive Era, a period of reform in American life, we hold certain values in common. According to your website, the club is nonpartisan and dedicated to the impartial discussion of issues important to your community and the nation. At the Fed, we too are nonpartisan and focused squarely on the public interest. We strive to conduct our deliberations impartially and base our decisions on factual evidence and objective analysis. This afternoon I will discuss some challenges we've faced in our recent deliberations and may face in the next few years.
SEC Deputy Chief Of Staff Nathaniel Stankard To Leave Agency

Date 18/01/2017

The Securities and Exchange Commission today announced that Nathaniel Stankard, deputy chief of staff for policy, will be leaving the agency.
Canadian Securities Administrators Announces Agenda For Cyber Security Roundtable

Date 18/01/2017

The Canadian Securities Administrators (CSA) today announced additional details regarding the roundtable that it will host to further explore cyber security issues and opportunities for greater collaboration, communication and coordination in the event of a cyber security incident.

FINRA Reports On Potential Implications Of Blockchain; Seeks Comment

Date 18/01/2017

Distributed ledger technology (DLT), better known as blockchain, has garnered significant interest in the securities industry, with many market participants indicating a desire for increased regulatory engagement as they explore the technology and its possible applications. In response, the Financial Industry Regulatory Authority (FINRA) today issued a report that discusses the use and implications of DLT in the securities industry. The paper also seeks comments as part of an effort to obtain feedback on any challenges associated with the use and implementation of DLT.
EEX To Extend Power Offering To Floor Futures As Well As Swiss Day And Weekend Futures

Date 18/01/2017

EEX will extend its product suite in European power derivatives with exchange trading and trade registration for German Intraday Floor Futures on 15 March 2017. The German Intraday Floor Futures complement EEX’s German Intraday Cap Futures. Whilst the Cap Futures allow to hedge against particularly high prices in the German intraday market, the Floor Futures enables hedging against low prices.
US Department Of Justice: State Street Corporation Agrees To Pay More than $64 Million To Resolve Fraud Charges

Date 18/01/2017

Massachusetts-based global financial services company State Street Corporation (State Street) entered into a deferred prosecution agreement and agreed to pay a $32.3 million criminal penalty to resolve charges that it engaged in a scheme to defraud a number of the bank’s clients by secretly applying commissions to billions of dollars of securities trades. State Street also agreed to offer an equal amount as a civil penalty to the U.S. Securities and Exchange Commission (SEC).
General Counsel Anne K. Small To Leave SEC

Date 18/01/2017

The Securities and Exchange Commission today announced that General Counsel Anne K. Small will leave the agency later this month.
US Justice Department: Credit Suisse Agrees To Pay $5.28 Billion In Connection With Its Sale Of Residential Mortgage-Backed Securities

Date 18/01/2017

The Justice Department announced today a $5.28 billion settlement with Credit Suisse related to Credit Suisse’s conduct in the packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities (RMBS) between 2005 and 2007. The resolution announced today requires Credit Suisse to pay $2.48 billion as a civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA). It also requires the bank to provide $2.8 billion in other relief, including relief to underwater homeowners, distressed borrowers and affected communities, in the form of loan forgiveness and financing for affordable housing. Investors, including federally-insured financial institutions, suffered billions of dollars in losses from investing in RMBS issued and underwritten by Credit Suisse between 2005 and 2007.