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Showing posts from June 22, 2015

U.S. Agricultural Exports to Cuba Have Substantial Room for Growth: U.S. Foreign Agricultural Service Press Release - June 22, 2015. U.S. Agricultural Exports to Cuba Have Substantial Room for Growth June 22, 2015 International Agricultural Trade Reports Printer-Friendly PDF Since the Trade Sanctions Reform and Export Enhancement Act (TSRA) was implemented in 2000, the United States has exported nearly $5 billion worth of agricultural products to Cuba. These exports have been supported by the close geographical proximity of the United States to Cuba and the island’s strong demand for U.S. agricultural products. The United States has typically been the largest supplier to Cuba and has had the highest market share of the island’s imports in nine out of the last 11 fiscal years. Recently, however, U.S. market share has declined due to increased competition, especially from countries able to provide export credits to the Cuban import authorities. But with the normalization of relations between the U.S. and Cuba now underway,

Federal Reserve Bank of New York Press Release - June 22, 215:

  Operating Policy Statement Regarding Term Reverse Repurchase Agreements June 22, 2015   The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has been working internally and with market participants on operational aspects of tri-party reverse repurchase agreements (RRPs) to ensure that this tool will be ready to support the monetary policy objectives of the Federal Open Market Committee (FOMC). The Federal Reserve continues to enhance operational readiness and increase its understanding of the impact of RRPs through technical exercises. In further support of its objectives, the FOMC instructed the Desk to examine how term RRP operations might work as an additional supplementary tool to help control the federal funds rate. In support of this goal, on March 17, the FOMC approved a resolution authorizing the Desk

DealBook P.M. Edition on June 22, 2015: Greece and Its Creditors Show Signs of Headway in Debt Talks.

Monday, June 22, 2015   DEALBOOK HIGHLIGHTS Greece and Its Creditors Show Signs of Headway in Debt Talks Eurozone finance ministers sounded positive after Athens submitted new proposals that would raise some taxes and cut costs by adjusting pensions. NYT » | As Greece Deadline Looms, European Central Bank Plays Key Role | Wall St. Is Higher on Greek Breakthrough Hopes   TOP STORY Jimmy Lee of JPMorgan Chase Remembered for Shaping an Industry Mr. Lee, who died on Wednesday , was responsible for securing some of the bank's most prominent deals. NYT »  

U.S. stocks end higher; Nasdaq, Russell 2000 hit records: Wall Street at Close Report by MarketWatch on June 22, 2015: U.S. stocks end higher; Nasdaq, Russell 2000 hit records Anora Mahmudova, Sara Sjolin   Small-cap index Russell 2000 and the Nasdaq Composite led the gains on Wall Street Monday, ending the session at record levels. The main benchmarks posted moderate gains, as headline news on Greece and potential agreement between its lenders to avert a default spurred a global equity rally. The Nasdaq Composite COMP, +0.72%   36.97 points, or 0.7% to 5,153.97, the highest level ever. Biotechnology stocks led the gains. The iShares Nasdaq Biotechnology ETF

CDFI Fund to Hold National Listening Tour on a Community Development Finance “Framework for the Future”: CDFI Fund Press Release on June 22, 2015.

        CDFI Fund Event -- June 22, 2015 CDFI Fund to Hold National Listening Tour on a Community Development Finance “Framework for the Future” The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today a national listening tour to solicit public opinion regarding a new strategic framework for the CDFI Fund. Intended to foster discussion and engagement among local community development leaders and practitioners, the listening tour will be co-hosted by CDFI Fund Director Annie Donovan alongside the Federal Reserve Bank of San Francisco, Federal Reserve Bank of Kansas City-Denver Branch, Federal Reserve Bank of Chicago, Federal Reserve Bank of New York, and Federal Reserve Bank of Atlanta. “I’m excited for the opportunity to hear from communities about what we’re doing well and what the CDFI Fund can do better to support economic growth and access to capital in areas that need it most,” said CDFI Fund Director Annie

FRB Press Release - June 22, 2015: Federal Reserve System begins 2015 Census of Finance Companies

Press Release Release Date: June 22, 2015 For release at 3:00 p.m. EDT The Federal Reserve System will begin its 2015 Census of Finance Companies in June, as part of a larger effort to paint a complete and continuing picture of this important sector of the U.S. economy. "The Federal Reserve System conducts this census to collect basic information on the types and volume of financing provided by nonbank financial institutions to the U.S. economy," Federal Reserve Chair Janet L. Yellen said in a letter to prospective census participants.

Export-Import Bank Approves Financing for Export of 144 American-Made Bridges to Sub-Saharan Africa: Export-Import Bank of the U.S. Press Release - June 22, 2015.

Export-Import Bank Approves Financing for Export of 144 American-Made Bridges to Sub-Saharan Africa Transaction will support jobs in Pennsylvania, Delaware, New Jersey, and several other states Washington, D.C. – The Export-Import Bank of the United States (EXIM) Chairman and President Fred Hochberg announced today in New Castle, Delaware that the Bank will finance the sale of Acrow Corporation of America’s modular steel bridge components to the Road Development Agency in the Republic of Zambia (ROZ). EXIM will guarantee a $73 million commercial loan to facilitate the export of 144 steel bridges. This action is expected to support approximately 200 jobs at Acrow’s manufacturing facility in Milton, Pennsylvania along with thousands more in Delaware, New Jersey and several other states.

Buffalo bill collecting: FTC Business Blog - June 22, 2015.

Buffalo bill collecting By Lesley Fair Beef on weck, frozen custard – and one of the largest debt collection industries in the U.S. Those are some of the things Buffalo is known for. That’s why the FTC kicked off its continuing Debt Collection Dialogue in Buffalo on June 15, 2015. Hosted with the New York State Attorney General’s Office, the event brought law enforcers, industry representatives, and consumer advocates together to talk about recent enforcement actions, consumer complaints, and compliance issues. If you couldn’t make it, here’s our informal take on what attendees talked about. Read more >

India's central bank opposes letting commercial banks count gold as money: GATA | THE GATA DISPATCH -June 22, 2015.

India's central bank opposes letting commercial banks count gold as money Submitted by cpowell on Monday, June 22, 2015 .  RBI Opposes Finance Ministry Plan to Use Gold Deposits as Bank CRR From The Times of India, Mumbai Monday, June 22, 2015 NEW DELHI -- The Centre's attempt at monetising gold lying with Indian households may face a roadblock with the Reserve Bank of India writing to the finance ministry opposing a plan to use gold deposits for bank Cash Reserve Ratios.

FDIC Press Release - Joint Release - June 22, 2015: Agencies Issue Flood Insurance Rule

Press Release Joint Release Board of Governors of the Federal Reserve System Farm Credit Administration Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency For Immediate Release June 22, 2015 Agencies Issue Flood Insurance Rule Five federal regulatory agencies today announced the approval of a joint final rule that modifies regulations that apply to loans secured by properties located in special flood hazard areas. The final rule implements provisions of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA) relating to the escrowing of flood insurance payments and the exemption of certain detached structures from the mandatory flood insurance purchase requirement. The final rule also implements provisions in the Biggert-Waters Flood Insurance Reform Act of 2012 (the Biggert-Waters Act) relating to the force placement of flood insurance. In accordance with HFIAA, the final rule re

BEA News Release - June 22, 2015: State Quarterly Personal Income, 1st quarter 2014 - 1st quarter 2015

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:  State personal income grew 0.9 percent on average in the first quarter of 2015, after growing 1.1 percent in the fourth quarter of 2014, according to estimates released today by the U.S. Bureau of Economic Analysis. Personal income grew in 46 states and growth accelerated in 15 of those states. The fastest growth, 1.3 percent, was in Florida. Personal income fell in four states, with the largest decline, 1.2 percent, in Iowa. The national price index for personal consumption expenditures, fell 0.5 percent in the first quarter, after falling 0.1 percent in the fourth quarter. The full text of the release on BEA's Web site can be found at regional/spi/sqpi_newsrelease. htm

European Markets at Close Report by CNBC on June 22, 2015: Europe closes sharply higher on Greece hopes. Europe closes sharply higher on Greece hopes Holly Ellyatt, Alexandra Gibbs   European equities closed sharply higher on Monday, as a deal between Greece and its creditors looked to be edging closer. It comes as crucial meetings of euro zone leaders and finance ministers to discuss new reforms offered by Greece to its creditors continued. The pan-European Stoxx 600 index closed around 2.2 to 2.3 percent higher Monday, with all sectors trading in positive territory. Greece's main stock index was the strongest performer in Europe, closing 9 percent higher on the heightened expectations of an agreement. U.S. stocks also rallied , as investors stayed optimistic on a deal between Greece and its creditors.   FTSE