Background
The Commodity Futures Trading Commission (CFTC) recently adopted final amendments to Part 190 of the CFTC s regulations (the Final Rules ), governing bankruptcy proceedings with respect to commodity brokers.
1 The Final Rules represent the first comprehensive update to the CFTC s bankruptcy rules since the Part 190 rules were initially adopted in 1983. Approved unanimously, the Final Rules serve to modernize and revise the CFTC s regulations to reflect changes in the commodity brokerage industry over that time.
Subchapter IV, chapter 7 of the Bankruptcy Code ( Code ) sets out the essential provisions governing the liquidation of a commodity broker in bankruptcy. However, the CFTC is authorized under section 20 of the Commodity Exchange Act (CEA), notwithstanding the Code, to adopt rules that provide, among other things: (1) that certain cash, securities, other property or commodity contracts are to be included in or excluded from customer property or member property
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Janet Yellen confirmed as first female US Treasury secretary - Here s what she can do about climate change
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Janet Yellen confirmed as first female US Treasury secretary - Here s what she can do about climate changeAP
Last Updated: Jan 26, 2021, 10:12 AM IST
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She can help guide the U.S. to the sweet spot of immediate growth that also puts the country on the path toward a cleaner, more resilient future. This means measures that steer investment and job creation in the sectors of the future, including clean energy, energy efficiency, clean transport and resilient agriculture.
WesBanco Announces Fourth Quarter 2020 Financial Results
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WHEELING, W.Va., Jan. 26, 2021 /PRNewswire/ WesBanco, Inc. ( WesBanco ) (NASDAQ: WSBC), a diversified, multi-state bank holding company, today announced net income and related earnings per share for the three and twelve months ended December 31, 2020. Net income available to common shareholders for the three months ended December 31, 2020 was $50.2 million, with diluted earnings per share of $0.75, compared to $36.4 million and $0.60 per diluted share, respectively, for the fourth quarter of 2019. For the twelve months ended December 31, 2020, reflecting the impact from the 2020 adoption of the new Current Expected Credit Losses ( CECL ) accounting standard, net income available to common shareholders was $119.4 million, or $1.77 per diluted share, compared to $158.9 million, or $2.83 per diluted share, for the 2019 period. Net income available to common shareho
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The financial markets are hoping collateralized loan obligations can strike back in 2021 after the menace of 2020. Our CLO team examines various mechanisms for adjusting CLO funding costs and deal terms.
Types of Rate Adjustment Transactions
Typical rationales for and constraints on Rate Adjustment Transactions
Supply of deals for Rate Adjustment Transactions in 2021
Many observers of the market for U.S. collateralized loan obligations (CLOs) are forecasting significant refinancing and reset activity in 2021. Although estimates of issuance volume vary among researchers, forecasts commonly cite continued improvement in CLO market fundamentals, particularly the continued tightening of liability spreads from the wide levels encountered in the market during the second quarter of 2020, and a large supply of legacy transactions that will be eligible under their governing documents to be refinanced or reset in 2021 as the mai
Former Federal Reserve Chair Janet Yellen's confirmation hearing for U.S. Treasury secretary was held Jan. 19. AP Photo/Jacquelyn MartinJanet Yellen is poised to be the next U.S. Treasury secretary, and her inbox will require every ounce of her vast experience to pilot the economy through a daunting confluence of challenges. How the U.S. manages the economic recovery from COVID-19, the financial risks from climate change and inequality together will determine the chances of American prosperity over the coming decades. First, Yellen will need to ensure that economic stimulus packages produce a job-rich recovery from the COVID-19 pandemic. She can help guide the U.S. to the sweet spot of immediate growth that also puts the country on the path toward a cleaner, more resilient future. This means measures that steer investment and job creation in the sectors of the future, including clean energy, energy efficiency, clean transport and resilient agriculture. Second, she will have a cruc