Reuters Arabic Service is reporting that the Malaysian government’s retirement fund, the sixth largest in the world controlling assets exceeding $160 billion, is considering establishing an independent fund to concentrate on investments in Islamic finance.
Malaysia Considers New Retirement Fund Structure
Federal Reserve Adopts Final Rule Implementing Enhanced Prudential Standards for Certain Domestic Bank Holding Companies and Foreign Banking Organizations
On February 18, 2014, the Board of Governors of the Federal Reserve System approved its final rule implementing enhanced prudential standards for certain domestic bank holding companies and foreign banking organizations (the Final Rule). While the Final Rule does not implement every provision of the December 2011 and December 2012 proposed rules, the Final Rule still requires enhanced standards of liquidity, risk management, and capital for covered institutions. Compliance with certain of the provisions of the Final Rule begins January 1, 2015.
Event Recap: Systemic Risk and the Financial Crisis
On February 25, 2014, the Berkeley Center for Law, Business and the Economy (BCLBE) hosted a lunchtime talk on Systemic Risk and the Financial Crisis by Prof. Steven L. Schwarcz. Prof. Schwarcz is a Professor of Law & Business at Duke University and is well known for his research and scholarship in the area of financial regulation and systemic risk. In his lecture, Prof. Schwarcz focused on how regulations should address systemic risk – “the risk that the failure of financial markets or firms harms the real economy by increasing the cost of capital or decreasing its availability.”
BCBLE Lecture Series: Eugene Ludwig on Putting Dodd-Frank in Context
On February 24, the Berkeley Center for Law, Business and the Economy (BCBLE) hosted a lunch presentation featuring Eugene Ludwig, founder and CEO of Promontory Financial Group. In his talk titled “Financial Regulation in the Post Reform Era: Putting Dodd-Frank in Context,” Ludwig shared his perspectives on the Dodd-Frank Act and other regulation efforts within the context of earlier cycles of crisis and reform. He discussed what the changes mean for the evolution of the American regulatory model and the transformative potential of the financial services industry.
FRB Proposes to Repeal Regulations P and DD and Amend Regulation V
The FRB issued a Notice of Proposed Rulemaking to repeal its regulation implementing the Truth in Savings Act, Regulation DD, and the regulation implementing the provisions of the Gramm-Leach Bliley Act protecting the privacy of consumer financial information, Regulation P.
[Upcoming Event] Financial Regulation in the Post-Reform Era: Putting Dodd-Frank in Context
The Berkeley Center for Law, Business and the Economy will be hosting a lunch presentation by Eugene Ludwig on Monday, February 24, 2014. Registration is requested.
Eugene Ludwig, Promontory Financial Group
Monday, February 24, 2014
Boalt Hall 100; 12:45 – 1:45 pm
From the Civil War to the savings & loan meltdown, U.S. financial regulation has been shaped by cycles of crisis and reform. What do changes like the Dodd-Frank Act mean for the evolution of the American regulatory model, and for global priorities like financial inclusion and development?
Dodd-Frank Rules’ Impact on Seller Financing
In 2014, new rules implementing amendments to the Federal Truth in Lending Act became effective as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”).
Are Bank Directors and Officers Protected by the Business Judgment Rule? Not Necessarily
Bank directors and officers may be held to a different standard of care from the directors and officers of other business corporations, leaving their actions without the protection of the business judgment rule, according to a recent and highly unusual decision from a Georgia federal court.
Investing in Real Estate is Back… And in a Big Way
In 2008, the collapse of major lenders and investors set the fire of the global financial crisis. Recently, Wall Street announced a similar activity, its latest trillion-dollar idea that involves slicing and dicing debt tied to single-family homes and selling the bonds to investors around the world.
The Current State of the LIBOR Scandal Investigation
The Financial Stability Board stated, in an email to Reuters on January 24, 2014, that it is “is in the process of defining the work it will do on issues around FX benchmarks.”