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Washington
Inside Washington (04/09/2010)
* WASHINGTON (4/12/10)--Federal Reserve Board Gov. Daniel Tarullo Thursday said the Fed needs to be careful when unwinding liquidity facilities so that it does not disrupt fragile markets. Tarullo spoke at a Federal Reserve Bank of New York’s community bankers’ conference (American Banker April 9). He emphasized caution about exit strategies that involve the early sale of assets before a sustainable recovery is grounded. The Fed should come up with a “single game plan” that will be announced before interest rates are raised, he said. The Fed is hoping to use interest on reserves that banks are holding to drain the $1.1 billion now held by institutions at Federal Reserve banks ... * WASHINGTON (4/12/10)--About 44% of respondents are strongly or somewhat in favor of financial regulatory reform, while 30% strongly or somewhat oppose reform, according to a poll by a Republican communications firm (American Banker April 9). Roughly 21% were strongly in favor of reform while 16% said they strongly oppose it. Fifty-two percent said they were significantly concerned that Congress would pass new regulations to raise costs, or reduce loan availability for the average consumers and small businesses ... * WASHINGTON (4/12/10)--The World Council of Credit Unions (WOCCU) is working to expand the number of member-owned Islamic investment and finance cooperatives (IIFC) in Afghanistan, and WOCCU Senior Vice President Barry Lennon told an audience of congressional staffers Thursday that he “expects more growth” as word of the financial cooperatives spreads. Afghanistan’s IIFCs, which WOCCU says are growing by 1,000 new members each month, held $8 million in total assets at the end of 2009. The U.S. Agency for International Development late last year awarded WOCCU $60.5 million to expand financial services in rural southern and eastern Afghanistan, and, in many cases, the IIFCs are the only option for financial services in rural areas ...


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