The global economic recovery is losing steam in the face of a slowing U.S. rebound and tensions over currencies, and a debt crisis in Europe could trigger more weakness next year, the OECD said on Thursday. Get the full story »
Inside these posts: Global financial system
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CME Group daily trading volume up in September
CME Group Inc.’s daily trading volume rose in September and the third quarter as a whole, the exchange operator said, continuing a trend of growth. Get the full story »
U.S. bankers want part of Basel plan dropped
A leading U.S. banking group is urging Basel Committee negotiators working on new international capital standards to ditch part of their proposal. Get the full story »
N.Y. Fed finds BP woes no risk to Wall St.
The Federal Reserve Bank of New York has been probing major financial firms’ exposure to BP Plc to ensure that if the oil giant buckles under the costs of the Gulf oil spill, it won’t put Wall Street or the global financial system at risk, according to two sources familiar with the matter.
After pouring over documents and asking banks in the last two weeks about their exposure to BP the Fed found no systemic risk and hasn’t asked firms to alter their credit relationships with BP, the sources told Reuters.
“The Fed gave banks’ exposure to BP a passing grade,” said one of the sources on condition of anonymity. Get the full story »
