News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed's Stress Tests Bolster Case for Easing Bank Rules

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The outcome gives ammunition to the Trump administration and congressional Republicans who see some of the rules put in place after the financial crisis as excessive.

Banks Pick New Reference Rate to Replace U.S. Dollar Libor

Efforts to replace Libor with a credible alternative have taken another step forward after 15 banks voted for a replacement of the U.S. dollar London interbank offered rate.

Warren Buffett Rescues Canada's Home Capital

Warren Buffett's rescue of struggling Canadian mortgage lender Home Capital Group is his latest move to secure generous returns in exchange for backing businesses that other investors are fleeing.

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U.S. Regulators Propose a Lighter Touch for Banking Oversight

Banks would see an easing of trading restrictions, more transparency in stress tests and less burdensome capital requirements under rollbacks proposed by policy makers to Senate lawmakers Thursday.

Consumer Bureau Criticized by Fellow Bank Regulator

Bank regulators rarely take public shots at each other, but the Consumer Financial Protection Bureau came under fire by an official who told senators the CFPB was doing a bad job of overseeing midsize banks, instead focusing on big banks, and should be stripped of its powers to supervise banks altogether.

CFTC's Giancarlo Sails Through Confirmation Hearing

The nominee to serve as the top U.S. derivatives regulator breezed through his confirmation hearing Thursday, presenting himself as a nonideological deal maker who would focus on upgrading his agency's capabilities to regulate and monitor increasingly complex markets.

Warren Buffett Wants You: To Buy Israel Bonds

Warren Buffett, the billionaire investor and Berkshire Hathaway chairman, hosted a lunch and dinner in New York last week to encourage investments in Israeli bonds.

A Sweetheart Deal to Bailout Italy's Banks

Intesa Sanpaolo has proposed a takeover of two small banks' good assets, but the deal is almost too good to be true

BOE's Forbes Sees Central Bankers Hindered by Their Higher Profile

Central bankers around the world have displayed a reluctance to raise interest rates that may be partly due to increased scrutiny that has made them overly sensitive to possible economic setbacks, a Bank of England rate setter said in her valedictory speech Thursday.

Beijing Investigates Loans to China's Top Overseas Deal Makers

China's banking regulator is conducting a sweeping check in one of the most forceful attempts yet to get a grip on runaway debt.

(END) Dow Jones Newswires

June 23, 2017 00:16 ET (04:16 GMT)