Hedge Act News Today

Market participants are relieved after the Second Circuit recently affirmed the lower courts decision in Kirschner v. JP Morgan Chase Bank, N.A.1 applying the Reves four-part test to conclude...

In the ruling decided by the United States Second Circuit Court of Appeals on Aug. 24 in Kirschner v. JP Morgan, the court upheld the District Court’s decision stating that the...

Key Points - On August 24, 2023, a three-judge panel of the 2nd Circuit unanimously held that the syndicated term loans at issue were not “securities” under the test articulated ...

Deposits developments and bank funding in the US and euro area (I) Rubric Bank funding in the US (cumulated monthly differences in outstanding amounts in USD bn since end-March 2022; SA bank deposit, NSA bank bonds) (image) Mar-22 Jun-22 Sep-22...

On August 15, 2022, the Board of Governors of the Federal Reserve System (the "Federal Reserve") finalized guidelines that the regional Federal Reserve Banks ("Reserve Banks")...

As the federal government continues its whole-of-government response to cyber incidents, federal banking regulators took action to impose a new notice requirement on federally regulated...

(File photo) BENGALURU: Two Wipro employees had a role to play in what has been described as one of Citibanks biggest blunders. The case involves one where Citibank acted as an administrative agent for a term loan taken by Revlon, and where it was to wire approximately $7.8 million in interest payments to Revlon’s lenders. Instead, Citibank wired almost $900 million. It mistakenly sent the principal amount too. "The resulting payments equaled — to the penny — the amounts of principal an...