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Washington
Inside Washington (09/12/2012)
  • WASHINGTON (9/13/12)--The Federal Housing Finance Agency (FHFA) Monday reclassified the struggling Seattle Federal Home Loan Bank as "adequately capitalized" (American Banker Sept. 12). With the reclassification, the Seattle Bank is eligible to repurchase up to $25 million of excess capital stock per quarter at par ($100 per share). The bank said it plans to make its initial excess stock repurchase before the end of the month. The bank was classified as "undercapitalized" by FHFA in November 2009. It is still prohibited from redeeming stock or paying a dividend without approval from the FHFA …
  • WASHINGTON (9/13/12)--U.S. regulators will select the first non-bank firms likely to be classified as potential risks to the financial system, according to sources with knowledge of the plans. The Financial Stability Oversight Council will request confidential data from up to five U.S. firms it deems as systemically important this month, according to the sources, who would not identify themselves because the plans are not public (Bloomberg Sept. 12). Regulators will scrutinize the data to decide whether the companies should be subject to Federal Reserve supervision, including stress tests, higher capital levels and tougher liquidity requirements. Treasury Secretary Timothy F. Geithner told the House Financial Services Committee in July that insurer American International Group Inc. (AIG) is among the firms the council is considering


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