Ginnie Mae, the U.S. government- owned corporation that guarantees almost $1.5 trillion of mortgage bonds, is no longer actively considering merging its two types of securities, President Ted Tozer said.
Regulators outnumber bankers at Frankfurt’s biggest finance conference this week, underlining their importance as the European Central Bank prepares to scrutinize the books of the euro area’s largest lenders.
Commercial real estate investors are moving to smaller markets and buying suburban properties as they search for higher returns after snapping up the most desirable buildings in the biggest U.S. cities.
Steve Schwarzman’s Blackstone Group LP has spent $7.5 billion acquiring 40,000 houses in the past two years to create the largest single-family rental business in the U.S. The private-equity firm is now planning to sell bonds backed by lease payments, the latest step in turning a small business into a mature industry.
Hong Kong’s futures and options market operator said traders will need to put up additional collateral when using some U.S. Treasury bills to back their positions, citing concern the U.S. is at risk of a default.
Federal Reserve Chairman Ben S. Bernanke said the Fed plans to avert strains in the banking system by pushing financial companies to better manage liquidity risk and reduce reliance on wholesale funding.
Scandinavia’s biggest banks have failed to curb funding risks linked to financial innovation and will probably only avoid downgrades if national regulators force through stricter measures, according to Standard & Poor’s.