Wall Street Breakfast: Must-Know News

Wall Street Breakfast Editors submit:
by Rachael Granby and the Market Currents team
U.S. banks to pay oversight fee. Banks with more than $50B in total assets will have to start paying a fee to cover the costs of the Financial Stability Oversight Council and the Office of Financial Research, according to a rule proposed yesterday by the Treasury. Banks will face a flat rate collected twice a year; the Treasury hasn't yet specified the size of the fee. Banks borrow more from ECB. Banks borrowed €17.307B from the ECB overnight, a very sharp jump from the €4.321B borrowed on Wednesday and the highest level since February. Banks deposited €445.683B, still near the €452.034B record set earlier this week. Credit gets tighter. The Fed's survey of senior credit officers found a "broad, but moderate tightening of credit terms" to large market participants over the past quarter, particularly noting REITs, hedge funds, and non-financial corporations. ThoughComplete Story »