Daniel Indiviglio is a Reuters Breakingviews columnist, based in Washington, where he covers the intersection of politics and business. He joined from The Atlantic, where he covered a similar beat, providing analysis on topics such as financial regulation, housing finance policy, the Treasury, and the Fed. He also wrote for Forbes. He is a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. Prior to becoming a journalist, Dan spent several years working as an investment banker and a consultant for financial services firms. He holds a BA from Cornell University, where he triple majored in economics, philosophy and physics. Follow Dan on Twitter @indiviglio
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A new bill proposes excluding lenders with less than $50 bln in assets from Basel III capital rules. But small banks are already exempt from many stringent new regulations. Giving them more help is more a sign of Washington’s unending affection than genuine need.
HSBC, RBS and BNP failed to provide credible resolution plans again, regulators say. They join 11 big banks watchdogs demanded new failure schemes from last August. Stress test results improved when dividend cuts caused pain. Whacks may be needed here too for better results.
A watchdog says the U.S. mortgage guarantors could lose $190 bln in a crisis. They lack capital cushions because Congress is stripping their cash. Changing that would require a policy rethink and could embolden undeserving equity holders. But the status quo is not sustainable.
- Wall Street's über-lawyer hits bum regulatory note
- Fed's lack of patience may be tested
- Market expectations weigh heavily on Fed patience
- Feuding clearers and dealers need a capital umpire
- Bank earnings need more stress than dividends
- Credit report firms finally score one for consumer
- Not even snow can chill U.S. jobs recovery