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Tag >> Sifma
Jan 19
2011

MSEPs, or multiple small employer plans, attract interest

Posted by Karen1 in Sifmaretirement planNFIBMSEP

Karen1

Although the SAVE (Small Businesses Add Value for Employees) Act introduced by Rep. Ron Kind (D-WI) last year appears dead, one of the ideas contained within the bill has attracted attention. The legislation would have provided several incentives to encourage small employers to offer their workers retirement savings programs.

Nearly three-quarters - 72 percent - of businesses with fewer than 100 employees don't offer a retirement savings plan, a 2010 study by the SBA, "Small Business Retirement Plan Availability and Worker Participation," found. The study noted that the costs and regulatory requirements likely dissuaded many small employers from establishing retirement plans.

Oct 28
2010

Balancing independence and stakeholder needs

Posted by dbedell in Sifmaregulatorsfinancial reformFDICcomplianceBernanke

dbedell

Timothy Ryan, president and CEO of the Securities Industry and Financial Markets Association (SIFMA), explained in a piece Wednesday on The Huffington Post some of the challenges that face regulators in the long and complicated process of implementing regulatory reform.

That process is fraught with potential pitfalls and challenges. The question is how those that are responsible for implementation will roll it out and what it will mean for all the companies and industries that will be affected.

Jun 29
2010

Asset-based lending and asset-backed securitization pick up

Posted by Karen1 in SifmaCFAasset-based lendingasset backed

Karen1

One more sign that the economy is stabilizing: nearly one-third of asset-based lenders, which includes banks and other commercial lenders, reported an increase in new credit commitments during the first quarter of 2010. That's according to the Quarterly Asset-Based Lending Index compiled by the Commercial Finance Association (CFA). What's more, respondents also reported a slight decrease in write-offs and non-accruing loans, along with a small jump in credit line utilization, says Andrej Suskavcevic, chief executive officer with the CFA. "We're seeing across the board greater volume and better quality deals," Suskavcevic says. As their name suggests, asset-based loans are loans that are backed by the borrower's assets, such as accounts receivable, inventory or equipment. 

That's not to say that asset-based loan market is immune to forces in the larger economy. At the end of 2009, asset-based loans outstanding totaled $480 billion, a drop of almost 20 percent from 2008's high of $590 billion, and the lowest level since 2005, also according to the CFA.

Jun 14
2010

How bad a hit to GDP from financial reform?

Posted by Ron F in SifmaRiskRegulationrecoveryrecessionMorgan StanleyloansJ.P. Morgan Chasefinancial reformfinancial crisisFederal ReserveFedeconomyCongresscomplianceBanksbanking reformBankingbank lendingbank failures

Ron F

A panel sponsored by the Securities Industry and Financial Markets Association on Monday on what banks can expect from financial reform warned that higher capital reserves and other limits Congress imposes on their profitability would hurt the economy as they curbed their ability to lend.

Several panelists, including Adam Gilbert, head of regulatory policy in the corporate risk management group of JP Morgan Chase, and Gary Mandelblatt, chief risk officer of Nomura, warned repeatedly of such "unintended consequences" from financial reform.

Jun 14
2010

Fed official favors limits on banks' size

Posted by Ron F in SifmaRiskRegulationfinancial crisisFederal ReservecomplianceBanksbanking reformBankingbank failures

Ron F

The challenges of managing systemic risk became starkly apparent during a panel discussion held this morning by the Securities Industry and Financial Markets Association.

In fact, the panelists agreed that the challenges are so immense that it's difficult to see how financial reform can succeed without limits on the size as well as the interconnectedness of financial firms, though some were more reluctant to impose such limits than others.

Nov 30
2009

Bankers resist giving IRS a peek at foreign accounts

Posted by kcates in UBSUBSSifmaSifmaoffshore bankingoffshore bankingIRSEuropean Banking FederationEuropean Banking Federationcompliance

kcates

The latest wrinkle in the IRS crackdown on offshore tax evasion comes in a wave of industry opposition to a proposal that the agency routinely be given names and account numbers of U.S. customers who stash money in foreign banks.

The alternative to divulging such information?  A 30 percent withholding on payments made by U.S. residents who have accounts in foreign banks.

Nov 30
2009

Bankers resist giving IRS a peek at foreign accounts

Posted by kcates in UBSUBSSifmaSifmaoffshore bankingoffshore bankingIRSEuropean Banking FederationEuropean Banking Federationcompliance

kcates

The latest wrinkle in the IRS crackdown on offshore tax evasion comes in a wave of industry opposition to a proposal that the agency routinely be given names and account numbers of U.S. customers who stash money in foreign banks.

The alternative to divulging such information?  A 30 percent withholding on payments made by U.S. residents who have accounts in foreign banks.

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