Tuesday, February 21, 2012

Morning roundup: Fed offers little transparency on bank rules

Here's a look at this morning's banking and finance news:

  • The Federal Reserve is rewriting the rules governing U.S. banks behind closed doors, the Wall Street Journal reports. Rather than discussing rules and voting in public, as is done at other agencies, the Fed is making big changes almost completely without public meetings, the Journal writes.
  • Neil Barofsky, former special inspector for TARP, tells Bloomberg the proposed Volcker rule, which would restrict trading by banks, will help financial stability.
  • It's bonus season for bankers - but some executives will likely be forced to return the payouts as claw-backs become more popular, CNBC reports.
  • The Greek debt deal could pave the way for widespread economic reforms, but markets have reacted cautiously so far, the Associated Press reports.