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Washington
Inside Washington (04/15/2008)
* WASHINGTON (4/16/08)--The Federal Deposit Insurance Corp. (FDIC) board of directors was set to meet yesterday on capital reforms for community banks. Basel II, which implements international capital reform, was adopted in December but none of the 12 Federal Home Loan banks have yet adopted it (American Banker April 15). The board also was expected to increase the use of covered bonds, which some say could help the credit crisis. Currently, the bonds require a 90-day delay on reclaiming assets from a failed institution ... * WASHINGTON (4/16/08)--Senate Banking Committee Chairman Christopher Dodd (D-Conn.) yesterday asked the Federal Reserve and the Treasury Department to help prevent the student loan aid market from collapsing (CNNMoney.com April 15). Dodd said he would write the Fed and the Treasury with his request soon. Dodd said he would like them to provide liquidity to the industry or tap the Federal Financing Bank. If the two do not succeed in helping the market, the senator said he would prepare for legislation. A number of student lenders have said they may not lend to students given the credit crunch, which depletes the number of loans available to those enrolling at colleges and universities in the fall ... * WASHINGTON (4/16/08)--Several free policy forums will be webcast for small business owners nationwide next week during National Small Business Week. The webcasts begin Tuesday with an address by former Speaker of the House of Representatives Newt Gingrich at 10:30 a.m. EST. Following his remarks, discussions on “Cost and Coverage: Healthcare Chicken and Egg” will begin, followed by “Going Global: Accessing New Markets” ... * WASHINGTON (4/16/08)--The witness list for Wednesday’s hearing of the House Subcommittee on the Foreclosure Prevention and Sound Mortgage Servicing Act has been announced. Witnesses include Faith Schwartz, executive director, HOPE NOW Alliance; Julia Gordon, policy counsel, Center for Responsible Lending; Laura Maggiano, deputy director of the Office of Single Family Asset Management, Department of Housing and Urban Development; David Kittle, chairman-elect of the Mortgage Bankers Association; Tom Deutsch, American Securitization Forum; and Steve Bailey, senior managing director, Countrywide Financial ...


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