Banks Think Rates Won’t Rise

 |  Wednesday, 23 August 2017 09:48  |  Published in Banking
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Banks Think Rates Won’t Rise
(New York) Here is an eye-opener. Investors have for years been buying bank stocks in the expectation of rising rates. That idea was a major component of the Trump rally. However, the view from the inside appears to be changing, as banks don’t think rates are going up. According to the Wall Street Journal, banks have given up on rising rates and are buying up all manner of loans that have low rates locked in for long periods, a sure sign they do not expect rates to move higher. Overall, the percentage of bank assets whose rates will not rise…

US Moves to Loosen Volcker Rule

 |  Wednesday, 02 August 2017 09:09  |  Published in Banking
US Moves to Loosen Volcker Rule
(Washington) One of the crowning achievements of Dodd-Frank has been the Volcker Rule, or the rule which bars banks from undertaking trading on their own account. The US’ OCC this week took the first step to loosening the rule, which is hated by those on Wall Street. The leader of the OCC, appointed by President Trump, has opened a request for comment, which is a prelude to a possible loosening or overturning of the rule. Consensus has apparently been formed in Washington, across parties, that the Volcker Rule needs to be simplified in order to be more effective. OxWFD: The…

SEC Chief Speaks on Plans for Fiduciary Rule Overhaul

 |  Thursday, 27 July 2017 10:54  |  Published in Banking
SEC Chief Speaks on Plans for Fiduciary Rule Overhaul
(Washington) Despite all the Congressional efforts going on to overturn the fiduciary rule, we think the best chance for a real change is if the SEC and DOL come together to form a comprehensive new rule framework. With that in mind, SEC chairman Piwowar’s comments from yesterday are very important. Disconcertingly, Piwowar’s language seemed less confident than a couple of weeks ago, when he and the DOL both struck up-beat tones about working together to make a new rule. Piwowar said yesterday about the DOL, “We have our mandate; they have theirs. But I'm very hopeful that we can reach…

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