Richard Sandor has been called the father of futures trading and carbon trading. His latest passion is a fledgling reference rate that is being used by a collection of small U.S. banks to price wholesale interbank financing.
The London interbank offered rate will likely be replaced by a new reference rate that critics say is better suited for the derivatives market than it is for commercial lending.
The London interbank offered rate has its faults, but at least it compensates for counterparty risk; not so the benchmark being touted as a replacement.
The bill, which also exempts community banks from the trading ban named for former Fed Chairman Paul Volcker, would go a step further than the regulatory relief bill that passed the Senate.
The deadline to seek an en banc hearing has now passed, and skin-in-the-game rules for collateralized loan obligations could be off the books by April 2.
Credit standards for commercial loans to medium and large firms showed some signs of easing over the last three months of 2017, even though demand stayed relatively unchanged.
Was the president’s recent tweet about enforcement measures against Wells Fargo an articulation of the administration’s approach for holding banks and executives accountable? Or is a tweet just a tweet?
