Written by Bradley Adams, GEI Associate
On November 9th the FSB, or Financial Stability Board, added a loss-absorbency requirement for the world's biggest banks to be implemented by 2019. The FSB has included banks it considered "systematically important" and those that made the list, such as JPMorgan Chase & Co. and HSBC, will now need capital or loss-absorbent debt equal to 16% of their risky assets by 2019. Banks that are big enough to fit this requirement will see an increase to 18% of risky assets by 2022.
Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.
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Special Report from ProPublica
-- this post authored by Charles Ornstein
This story was co-published with NPR's Shots blog.
In recent days, presidential candidates and even the American Medical Association have griped about rising drug prices, pointing to brand-name blockbusters with splashy ad campaigns.
Infographic Of The Day: Causes And Treatments For Headache In Children
Is your child often complaining of headaches?
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from EconMatters, EconMatters.com
The Federal Reserve has been telegraphing to markets that they are going to raise the fed funds rate by 25 basis points next month at its December Fed Meeting. The financial markets think they are serious this time and have been pricing in this 25 basis point rate hike for the past 6 weeks.
Written by Investing.com Staff, Investing.com
U.S. stocks mixed in light session, amid thin shopping on Black Friday
U.S. stocks were mixed in a lightly traded post-Thanksgiving session, as retail stocks remained flat during the official beginning of the Holiday shopping season.
Dragged down by sharp losses from Walt Disney Company (N:DIS), the Dow Jones Industrial Average lost 14.90 or 0.08% to 17,798.49. The S&P 500 Composite Index, meanwhile, gained 1.24 or 0.06% to 2,090.11, as seven of 10 sectors closed in the green. Stocks in the Telecommunications, Financials and Health Care sectors led, while stocks in the Energy, Consumer Services and Basic Materials industries lagged. The major indices remained near their highest closing level in three weeks.
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Total Fed Balance Sheet:
Fed's Balance Sheet week ending balance sheet was $4,439 trillion..