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FBN’s Rich Edson on the FSOC discussing efforts to support the reform of money market funds.
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Budget rich ads and -- Margaret what they -- What we were expecting Melissa for the -- -- to announce which companies were systemically important these systemically important financial institutions and on banks.
That would be subjected to greater regulation that's not happening today according to a spokesperson.
Here's what they're saying that the council will undertake further analysis of these companies before voting.
On any proposed designation -- the council.
Will notify the companies that they were advance to the next round but it does not intend to publicly announce the name of any non bank financial company.
That he's under valuation before a final designation of such company thought we were getting the -- today -- not the F -- also discussed.
Developments in Europe domestic markets and also money market mutual funds and has asked staff to work.
On recommendations for the council to consider for its November meeting so stubborn and again names yeah -- -- -- but the Fed is releasing information today about who's been tapping them for money at least right.
Right any results of that one -- banking -- barter a few days out of the top quarterly loan of seventy million dollars in August to 2010 Commerce Bank Kansas City.
Tapped the Fed for sixty million net next month and those -- the largest discount window loans for the third quarter up 2010.
And this is the first release of this type of information.
Under the Dodd-Frank law now Fox Business -- the Fed to report these details from loans during the financial crisis we first reported.
Tens of billions of dollars in credit to European banks showing the Fed was basically propping up the global financial system.
This from the third quarter 4010 -- a much different economy.
Back to you existing pretense and thanks so much.
Well yeah.
