New adjusting body for banks will be created in USA
11 April 2008Next week US Finance Minister Henry Polson will meet with senators and management of financial companies Fannie Mae and Freddie Mac for discussing with the bill of creation of new adjusting body for the control over bank system.
Freddie Mac and Fannie Mae’s managers will, accordingly, meet a management of Exchequer and two senators, leading work above the new bill on bank regulation.
Fannie Mae and Freddie Mac have faced problems because of hypothec crisis, and existing adjusting bodies in the end of March agreed to help them. They have lowered a level of necessary capitalization for the hypothec diggings, sponsored by the state, having allowed them to invest up to $200 billion into the hypothec market.
Management on federal supervision of US housing sector has lowered volume of the additional capital, which the companies should reserve after problems with the accounting reporting, from 30 % up to 20 %. The regulator has also promised to lead the further downturn of demanded level.
Now the Ministry of Finance is going to strengthen adjusting bodies.
- US hypothec brokers are suspected of swindle
- American banks will rescue bankrupt house owners
- European banks are looking for way out from crisis
- Fitch: crisis continues to reduce banks’ ratings
