The U.S. Treasury Department is asking banks not to mention the regulatory stress tests as part of their first-quarter earnings results, according to a source familiar with government discussions.
President Barack Obama plans to meet on Friday with top financial regulators to sketch out the next steps to take with the stress tests being conducted at the 19 biggest U.S. banks, a source familiar with the meeting said on Thursday.
The United States and Switzerland will head back to the negotiating table to revise a 1996 bilateral tax treaty in an effort to cool a high-profile dispute between the two nations over banking secrecy laws, the U.S. Treasury said on Monday.
Treasury Secretary Timothy Geithner said Sunday that banks needing ‘exceptional’ U.S. aid may be forced to make management and board changes.
U.S. Treasury Secretary Timothy Geithner denied on Sunday the Obama administration was crafting bailout initiatives to allow companies to evade limits on executive pay and other restrictions imposed by Congress.
Gary Stern, the Federal Reserve's longest-serving regional president and a vocal critic of big bank bailouts, will retire in the summer of 2009, the Minneapolis Fed said on Thursday.
Maurice Hank Greenberg, former CEO of American International Group Inc and creator of the AIG unit whose investments triggered the insurance giant's near collapse, portrayed himself as a victim in testimony before a congressional panel on Thursday.
U.S. Treasury Secretary Timothy Geithner heads for a summit of world leaders this week having strengthened his president's hand by rolling out key pieces of a U.S. financial rescue plan.
U.S. Treasury Secretary Timothy Geithner heads for a summit of world leaders this week having strengthened his president's hand by rolling out key pieces of a U.S. financial rescue plan.
Stocks fell sharply on Monday as the Obama administration raised the specter of bankruptcy for U.S. automakers General Motors and Chrysler and Spain had to rescue regional savings bank CCM.
U.S. stock index futures pointed to a sharply lower open on Monday as the Obama administration threatened bankruptcy for two major U.S. automakers and Spain had to rescue regional savings bank CCM.
U.S. Treasury Secretary Timothy Geithner -- noting on Sunday that the Treasury had $135 billion in uncommitted bank bailout funds -- said on Sunday that if the agency needed additional money, he would make a strong case to Congress about it.
An independent investigating arm of the Treasury Department found a handful of cases in which a bank regulator ignored questionable backdating of capital injections, an official said on Friday.
A U.S. congressman has asked the Obama autos task force to withhold further emergency aid to Chrysler until the automaker resolves a financial dispute with an Indiana county stemming from a failed plant project.
The industry expected new regulations to derivatives being proposed by Treasury Seretary Timothy Geithner this week, industry figures said.
Wall Street faces curbs on risk taking and the prospect of lower profits under sweeping U.S. proposals to prevent a repeat of the credit crisis.
Treasury Secretary Timothy Geithner on Thursday called for broad reforms to curb risk taking on Wall Street, including a new regulator to oversee the entire financial system in a bid to restrain behavior that led to the worst credit crisis since the 1930s.
Stocks rose on Thursday after strong results at Best Buy lifted consumer shares, although worries over the fate of banks emerged as details on sweeping rules to regulate the financial system were unveiled.
Treasury Secretary Timothy Geithner said sweeping new rules of the game are required to make sure the financial system is regulated tightly enough that it cannot again threaten the entire economy.
One month of improved data does not constitute an economic recovery and recession in the United States will last for at least a few more months, Atlanta Federal Reserve President Dennis Lockhart said on Thursday.
Wall Street was set for a higher open on Thursday as reports on economic growth and jobless claims came in roughly as forecast, while shares of Best Buy jumped after its results beat expectations.
U.S. stock index futures pointed to a higher open on Thursday as upbeat data this week showed signs of life in the economy, as investors awaited reports on gross domestic product and the labor market.
