US banks eye capital victory as regulators tee up new Basel draft
WASHINGTON, March 10 (Reuters) - U.S. President Donald Trump's bank regulators will unveil in coming weeks long-awaited draft rules that could ultimately shrink the amount of cash lenders must set aside to absorb losses, in a major potential victory for the industry that could unleash billions of dollars in excess capital.
The Federal Reserve and fellow agencies are expected this month to unveil a more industry-friendly draft of the "Basel" rule overhauling how lenders gauge risk, three industry executives said. The agencies also plan to release a related proposal easing an extra capital surcharge levied on the riskiest global systemically important banks, or GSIBs, they said.
Fed Vice Chair for Supervision Michelle Bowman, who is leading the effort, is scheduled to give a speech on Basel on Thursday.
Source: thomsonreuters.com
WASHINGTON, March 10 (Reuters) - U.S. President Donald Trump's bank regulators will unveil in coming weeks long-awaited draft rules that could ultimately shrink the amount of cash lenders must set aside to absorb losses, in a major potential victory for the industry that could unleash billions of dollars in excess capital.
The Federal Reserve and fellow agencies are expected this month to unveil a more industry-friendly draft of the "Basel" rule overhauling how lenders gauge risk, three industry executives said. The agencies also plan to release a related proposal easing an extra capital surcharge levied on the riskiest global systemically important banks, or GSIBs, they said.
Fed Vice Chair for Supervision Michelle Bowman, who is leading the effort, is scheduled to give a speech on Basel on Thursday.
Source: thomsonreuters.com
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Shares skid as oil blasts past $100 after Iran strikes Gulf shipping
SYDNEY, March 12 (Reuters) - Shares in Asia fell broadly on Thursday as oil prices roared 9% past $100 a barrel on reports of more ships struck in Gulf waters and terminal shutdowns - a jump that could rapidly stoke inflation and push global borrowing costs higher.
Investors took little comfort from the International Energy Agency's plan to release 400 million barrels of oil from its reserves, the largest such move in its history. As part of that, the U.S. said it would release 172 million barrels of oil from next week.
Brent crude futures LCOc1 jumped 9.2% to $100.37 a barrel, extending a rise of more than 4% overnight. U.S. crude futures CLc1 surged 8.1% to $94.26 a barrel.
Source: thomsonreuters.com
SYDNEY, March 12 (Reuters) - Shares in Asia fell broadly on Thursday as oil prices roared 9% past $100 a barrel on reports of more ships struck in Gulf waters and terminal shutdowns - a jump that could rapidly stoke inflation and push global borrowing costs higher.
Investors took little comfort from the International Energy Agency's plan to release 400 million barrels of oil from its reserves, the largest such move in its history. As part of that, the U.S. said it would release 172 million barrels of oil from next week.
Brent crude futures LCOc1 jumped 9.2% to $100.37 a barrel, extending a rise of more than 4% overnight. U.S. crude futures CLc1 surged 8.1% to $94.26 a barrel.
Source: thomsonreuters.com
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JPMorgan's markdown to restrict lending to private credit firms, source says
March 12 (Reuters) - A move by JPMorgan Chase JPM.N to mark down the value of certain loans to private credit players will reduce lending to the funds, a source familiar with the matter said.
The move from the largest U.S. lender extends a flurry of jitters across the roughly $2 trillion private credit market, with Wall Street juggernauts facing heightened withdrawal requests in recent weeks.
The bank's credit agreements for private credit allow it to re-mark valuations based on the collateral of the fund if there is a market dislocation, the source had told Reuters earlier, adding that the marks are not significant.
The bank went through its financing portfolio name by name and then sector by sector and put different marks on loans such as those with underlying software exposure, the source said.
Source: thomsonreuters.com
March 12 (Reuters) - A move by JPMorgan Chase JPM.N to mark down the value of certain loans to private credit players will reduce lending to the funds, a source familiar with the matter said.
The move from the largest U.S. lender extends a flurry of jitters across the roughly $2 trillion private credit market, with Wall Street juggernauts facing heightened withdrawal requests in recent weeks.
The bank's credit agreements for private credit allow it to re-mark valuations based on the collateral of the fund if there is a market dislocation, the source had told Reuters earlier, adding that the marks are not significant.
The bank went through its financing portfolio name by name and then sector by sector and put different marks on loans such as those with underlying software exposure, the source said.
Source: thomsonreuters.com
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