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Top stories summarized by our editors
11/20/2017

The Treasury Department has called on the Financial Stability Oversight Council to limit use of the systemically important financial institution designation and to target firms based on financial practices, rather than size. "Our recommendations include enhancing FSOC's analytic process, implementing cost-benefit analysis and increasing transparency," said Treasury Secretary Steven Mnuchin.

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The Hill
11/20/2017

An effort by German Chancellor Angela Merkel to put together a coalition government ended abruptly when business-friendly Free Democrats pulled out of the talks, raising questions about whether Merkel will be able to serve a fourth term. Merkel said she will talk with President Frank-Walter Steinmeier about what to do next.

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Angela Merkel
11/20/2017

President Donald Trump has pushed for more major infrastructure projects, and he has tried to streamline the federal approval process. Delays in beginning a project cost trillions of dollars in economic activity, but experts say funding issues and local regulations often are major factors as well.

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Trump
11/20/2017

As the world transitions from an extraordinary situation in which real interest rates have been negative, opportunities will be created, says Jacob Frenkel, chairman of JPMorgan Chase International. He says the decline in money supply ensuing from normalisation should not be seen as a harbinger of what's likely to happen in the stock market, because the market more fundamentally reflects hopes for the future.

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CNBC
11/20/2017

There are three main ingredients to a happy retirement, according to a university study: spending money on enjoyable activities, nurturing close relationships with family and friends and staying healthy.

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Money magazine
11/20/2017

Federal Reserve Governor Jerome Powell met with Treasury Secretary Steven Mnuchin, Senate banking committee Chairman Mike Crapo and bank executives in the months leading up to his nomination as chairman of the central bank, according to Powell's calendar. The executives included Wells Fargo CEO Timothy Sloan, JPMorgan Chase CEO Jamie Dimon, Goldman Sachs President Harvey Schwartz and Deutsche Bank CEO John Cryan.

11/20/2017

Visa has partnered with financial institutions such as Commerce Bank in the US, Shinhan Bank in South Korea, Union Bank of the Philippines and United Overseas Bank in Singapore in preparation for Visa B2B Connect's commercial launch next year. The platform is meant to provide banks with a fast, safe method of completing international business-to-business payments.

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Business Insider
11/20/2017

The European Banking Authority made public the final version of its methodology for next year's EU bank stress tests. The testing will continue to focus on key risks that influence liquidity, but this time will incorporate International Financial Reporting Standard 9.

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European Banking Authority, EBA
11/20/2017

New requirements are pushing more products into the cleared space, but Bruce Kellaway of LCH cautions that clearing is not always the solution. "Regulation is all about making the industry safer, but in some cases clearing won't always be the answer," Kellaway said.

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LCH
11/20/2017

The European Commission published its proposed list of derivatives subject to trading obligations under upcoming market rules. "[T]his regulation should enter into force as a matter of urgency," according to the commission.

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European Commission, EU