The location of the National Credit Union Administration suits its place in the hierarchy of U.S. financial regulators. Unlike its better-known peers, which are all clustered near the Capitol or the White House, the agency is a 20-minute drive from downtown Washington in good traffic.
Money-market mutual funds would be forced to create capital buffers equaling 1 percent to 3 percent of assets to protect against losses under a plan now favored by staff at the U.S. Securities and Exchange Commission, according to three people briefed on the regulator’s deliberations.
As Energy Future Holdings Corp.’s board met last month to plan for bankruptcy, representatives of every influential creditor from Apollo Global Management LLC to Oaktree Capital Group LLC filed into a New York law office, except one.
Zynga Inc., the biggest maker of games on Facebook, is in talks to raise funding from T. Rowe Price Group Inc. and Fidelity Investments at a valuation of close to $10 billion, two people familiar with the matter said.
China Asset Management Co., the nation’s biggest mutual fund company, boosted its holdings in property stocks in its flagship fund in the fourth quarter even as the government tightened policies to curb asset bubbles.