Sr502. Sr444. Basel and the Wider Financial Stability Agenda - Federal Reserve Bank of New York. Remarks at the 2010 Institute of International Finance Annual Membership Meeting, Washington, D.C. As Prepared for Delivery Over the past year, important new regulatory initiatives have been advanced both at the national and international level. These include the recent agreement in Basel on stronger capital and liquidity standards for internationally active banks and the considerable regulatory changes embodied in the Dodd-Frank Act (DFA).
Today I want to discuss some of these initiatives, with a special focus on the recent agreement in Basel on capital and liquidity for large, internationally active banks. I will give my perspective on how these efforts have been informed by the lessons of the financial crisis and discuss what some of the likely consequences may be as these measures are put in place. Given the breadth of the changes, my remarks will be by no means complete. As always, my remarks reflect my own views and not necessarily those of the Federal Reserve System. 1. 2. 3. 4. FEDERAL RESERVE BANK of NEW YORK. Statement on Financing Arrangement of JPMorgan Chase's Acquisition of Bear Stearns. Statement on Financing Arrangement of JPMorgan Chase's Acquisition of Bear Stearns At the closing of the merger, the Federal Reserve Bank of New York ("New York Fed") will provide term financing to facilitate JPMorgan Chase & Co.'s acquisition of The Bear Stearns Companies Inc.
This action is being taken by the Federal Reserve, with the support of the Treasury Department, to bolster market liquidity and promote orderly market functioning. The New York Fed will take, through a limited liability company formed for this purpose, control of a portfolio of assets valued at $30 billion as of March 14, 2008. The assets will be pledged as security for $29 billion in term financing from the New York Fed at its primary credit rate. JPMorgan Chase will bear the first $1 billion of any losses associated with the portfolio and any realized gains will accrue to the New York Fed. Summary of Terms and Conditions Regarding the JPMorgan Chase Facility ›› Liberty Street Economics. Supervision and Regulation. Sarah J. Dahlgren. Sarah J.
Dahlgren, executive vice president and member of the Bank's Management Committee, became head of the Financial Institution Supervision Group at the Federal Reserve Bank of New York effective January 1, 2011. Ms. Dahlgren had been the executive vice president of the Special Investments Management Group since January 2010. The Financial Institution Supervision Group at the New York Fed is responsible for supervising and regulating all state member banks, financial holding companies and other bank holding companies, and foreign banks operating within the Second Federal Reserve District.
It is also heavily involved in the development of supervisory policies and procedures, both domestically and internationally, and processes applications by banking organizations to expand their activities. Ms.