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Inside Washington (06/06/2012)
  • WASHINGTON (6/7/12)--The Treasury Tuesday said it will sell preferred stock in seven banks as part of its efforts to wind down the Troubled Asset Relief Program. The banks are: Ameris Bancorp, Moultrie, Ga.; Farmers Capital Bank Corp., Frankfort, Ky.; First Capital Bancorp Inc., Glen Allen, Va.; First Defiance Financial Corp., Defiance, Ohio; LNB Bancorp Inc., Lorain, Ohio; Taylor Capital Group Inc., Rosemont, Ill.; and United Bancorp Inc., Ann Arbor, Mich. Treasury has recovered $264 billion from TARP's bank programs through repayments, dividends, interest, and other income--compared with the $245 billion initially invested. It has remaining outstanding preferred stock investments in 343 banks.  Treasury intends to announce additional preferred stock auctions in the coming weeks and expects to begin the auctions, which will be registered public offerings, on or about June 11 …
  • WASHINGTON (6/7/12)--Community banks for the most part are sufficiently capitalized to meet the new minimum capital levels required by Basel III capital rules, George French, the Federal Deposit Insurance Corp. (FDIC) deputy director of  risk management supervision said Tuesday (American Banker June 6). The FDIC board will meet June 12 to discuss implementation proposals for the Basel international agreement. Most community banks "overwhelmingly" meet the capital requirements proposed by the Basel committee, French said at a meeting of the FDIC's community bank advisory panel …
  • WASHINGTON (6/7/12)--The Systemic Risk Council, a private sector, volunteer group led by former Federal Deposit Insurance Corp. chair Sheila Bair, will convene this month to monitor and encourage regulatory reform of U.S. capital markets focused on systemic risk. The independent, non-partisan council was formed by CFA Institute, a global association of investment professionals, and The Pew Charitable Trusts, an independent nonprofit organization. The Systemic Risk Council comprises experts in investments, capital markets and securities regulation, including senior adviser Paul Volcker, former chair of the Federal Reserve.  Concerns over the slow progress of regulators and standard-setters prompted the council's formation, Bair said.  The group will monitor and evaluate the agencies that oversee the implementation of Dodd-Frank provisions related to systemic risk, including the Financial Stability Oversight Council and the Office of Financial Research. "The great challenge is to devise a system to identify risks that threaten market stability before they become a danger to the general public," said Bair. "As evidenced by the 2008 crisis and even recent headlines, we need a more effective and efficient early-warning system to detect issues that jeopardize the functioning of U.S. financial markets before they disrupt credit flows to the real economy. And two of the most critical tasks are how to impose greater market discipline on excess risk taking and effectively end the doctrine of too-big-to-fail" …


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