The Traderszone Network

Federal Reserve on Wednesday voted to adopt final rules requiring big banks to hold more assets that they could sell easily in a credit crunch. The rules, which call for big banks to hold enough liquid assets to meet their cash needs for 30 days, are a pillar of the response to the 2007-2009 financial crisis. The Federal Deposit Insurance Corp also plans to vote on the final rules on Wednesday.

The Revel Casino Hotel was envisioned as a playground for Wall Streeters who hated flying to Las Vegas. Barring a sale, the new owners may be Wells Fargo & Co. and JPMorgan Chase & Co., which provided $125 million in court-approved funding. Previous backers also included Capital Group Cos., the third-largest manager of U.S. The Revel saga shows what can go wrong when bankers stray from what they know, according to Charles Geisst, a professor of finance at Manhattan College in New York and author of the book “Wall Street: A History.”

U.S. options exchanges have united to draft a set of rules governing erroneous trade policies and procedures. The proposed rules have been written with the help of the Securities and Exchange Commission, which should see a formal proposal in the next several weeks.

The US is considering limiting hi-tech exports to Russia’s Arctic oil and gas industry as part of plans to strengthen sanctions against Moscow.

The dawning of the era of mobile banking is changing how consumers transact their financial affairs — and, in the process, how banks make money.
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The IRS argues that free employer-provide meals are a taxable fringe benefit.

Leasing a car, which has long been popular in select markets, is now the top choice for millions who want to drive a new vehicle.