SEC proposes reforms to secure US money funds

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters
US Securities and Exchange Commission (SEC) is planning to offer overhauled reforms to improve the stability of money market funds. SEC is going to focus on possibilities to implement net asset value floating and require capital buffers for financial intermediaries. According to Mary Schapiro, chairwoman of SEC, US should never again have to choose between supporting private investors and risking to trigger a collapse of wider financial system.

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Tue, 08 Nov 2011 08:09:59 GMT

US consumer borrowing surge in September

Consumer borrowing increased substantially in September reaching $7.4 bn which was 2.2bn more than Bloomberg survey had forecast. The increase was mainly stimulated by surging non-revolving loans containing funding for car purchases and study credits. While loans ascended for big scale commodities, the debt including credit cards and other non-revolving loan declined, suggesting Americans cut other liabilities.

Tue, 08 Nov 2011 07:32:11 GMT

Japan purchases 10% of euro bonds

On Monday Japan claimed it purchased 10% of Euro rescue bonds issued by EFSF. Japanese government bought debt worth EUR 300 m. Earlier Japan suggested, it may acquire 20% of EFSF bonds, however, according to Junko Nishioka, RBS Securities chief economist in Tokyo, the amount purchased has been reduced due to potential losses associated euro depreciation risk.

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