FSOC reportedly will issue REIT warning
The U.S. Financial Stability Oversight Council's annual report is expected to note market vulnerability from REITs, sources say. Mortgage REITs, however, have supported their asset growth by raising capital in public markets. "Mortgage REITs are bigger today, but they are bigger by virtue of an increased capital base," said Wellington J. Denahan, chairman and CEO of Annaly Capital. The Wall Street Journal
(4/19)
Treasury's Miller rebuffs big-bank borrowing-cost argument
Mary Miller, undersecretary for domestic finance at the Treasury Department, said it isn't necessarily true that borrowing costs for big banks are lower than those of their smaller rivals. Miller was refuting arguments that major financial institutions are seen as "too big to fail" and benefit from reduced borrowing costs. "In the wake of the financial crisis, the largest banks' borrowing costs have not only increased more than those of some regional bank competitors, but have also increased to higher absolute levels," Miller said. Reuters
(4/18)
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