News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

New York Fed Updates Portfolio Simulations, Projects Large Balance Sheet

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Three simulations of the future of the Federal Reserve's $4.5 trillion asset portfolio released Monday show the central bank retaining trillions of dollars of securities to support financial market stability, rather than shrinking its holdings to their precrisis size.

Finra Launches U.S. Treasury Transaction Reporting

U.S. Treasury bond traders started reporting their transactions for the first time this week, fulfilling a longtime goal of regulators for daily visibility into the $14 trillion market that influences securities prices across the globe.

China's CICC Jumps Into U.S. ETF Market

The latest entrant in the U.S. exchange-traded fund market is a Chinese investment bank: Beijing-based China International Capital.

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Rising Bond Yields Spur Concern on Stocks

As central banks signal that the days of easy money are nearing an end, investors worry that stocks trading near record highs could be vulnerable if the bond markets take a further hit.

Majority of Fed Regional Banks Wanted Discount-Window Rate Rise

A majority of the Federal Reserve's 12 regional reserve banks wanted to raise the interest rate on discount-window loans in the weeks ahead of the central bank's most recent policy meeting, minutes published on Tuesday said.

Fed's Brainard Sees Balance Sheet Runoff 'Soon'

Federal Reserve Governor Lael Brainard said Tuesday it would "soon" be the right time for the central bank to begin shrinking its $4.5 trillion portfolio.

PayPal Hires Former Executive for Lending Business

PayPal Holdings Inc. said Tuesday it has hired Mark Britto, a financial-technology entrepreneur and a former executive at Inc., to lead its lending business.

Shifting Monetary-Policy Outlook Imperils Rally in Emerging Markets

A record amount of money flowed out of a major emerging-market exchange-traded fund last week, a sign that some investors may be growing skittish about owning risky assets as interest rates appear poised to rise.

Buffett's Berkshire Moves Away From Stock Picking

Warren Buffett's Berkshire Hathaway is relying less on stock picking for its future, as its latest energy bid signals.

China's Central Bank Is Battling Investors at Home Over the Yuan

A tug of war between the People's Bank of China and investors in the country's domestic foreign-exchange market has played out almost daily in recent months, with the yuan consistently closing weaker than the level set by the central bank.

(END) Dow Jones Newswires

July 12, 2017 00:15 ET (04:15 GMT)