Latest news by Michael Volpe
December 7, 2018
Failure of a major clearinghouse would be an unprecedent event; such an event would mean there would a cataclysmic breakdown of the interlocking risk management schemes despite their highly regulated system.” Collin Peterson, a Democrat from the State of Minnesota, said at the June 2017, hearing.
But such an event may have since already occurred.
December 6, 2018
The Markets Risk Advisor Committee (MRAC) of the Commodities Futures Trading Commission (CFTC) met and announced the formation and chair of a new sub-committee.
December 4, 2018
The 10-year US Treasury futures contract is the most liquid US Treasury contract, the US Treasury market is going through a “liquidity hierarchy”, and as volatility increases in US Treasuries, liquidity migrates from less liquid cash securities to more liquid futures contracts.
November 30, 2018
“But we cannot be blinded by the fact that as good as the economy is of today, we still have to concentrate on the economy of tomorrow. And we need to know, can we ensure that the seed capital is there? Can we make sure that our public policy nourishes the drivers of tomorrow’s economy, the next Amazons, the next Googles, the next Ubers; where are they going to come from?”
November 26, 2018
“I would say the most poignant moment of me being a cyber special agent was the moment that I took an offensive hacking course. It’s white hat hacking and it was a bunch of agents that took it.”
He described learning how to control other people’s computers, “Once I started doing that, I realized ‘oh way’ this is as easy as turning on the computer and writing an email.”
November 18, 2018
Big fraud allegations often mean big settlements will follow. But the settlements the Commodity Futures Trading Commission reached with former MF Global CEO Jon Corzine in early January and Igor Oystacher and his Chicago firm, 3Red Trading LLC, in December were surprisingly puny.
November 16, 2018
This market looks a lot like the sub-prime mortgage market looked pre-2008. The loans are badly underwritten, with minimal protections, like sub-prime mortgages, these loans are being packaged up and sold to investors as collateralized loan obligations, or CLOs, which spread the risk throughout the system
November 15, 2018
Randal Quarles is the Vice Chairman for Supervision and he was testifying in front of the House Financial Services Committee in his bi-annual testimony on November 14, 2018.