FURTHER FURTHER READING
- Nick Summers on why Jamie Dimon is a colossus no more.
- Chris Dillow on the rhetoric of inequality.
- Kevin Roose finds that the age of bull$hit investments is back!
- Heidi Moore on the JPMorgan settlement.
- Karl Smith on Ken Rogoff on the UK, and an extreme hypothetical.
- Shahien Nasiripour says the Fed appears to dismiss collateral shortage concerns with its LCR proposal.
- Matthew Boestler on whether the Fed blew its chance to taper.
FT EVENING ROUND-UP
Twitter could raise up to $1.6bn from IPO: "Twitter has set a price range of between $17 and $20 for its initial public offering next month, giving it a valuation of between $10.5bn and $12.4bn, or less than the up to $15bn which had been widely expected. The messaging platform will sell 80.5m shares representing about 13 per cent of the company, it said in a filing, as it prepared to embark on its roadshow next week. The company is selling new stock and no existing shareholders will sell their stake." (Financial Times)
Carney buries predecessor's policies on liquidity: "Mark Carney, the new governor of the Bank of England, on Thursday announced a sweeping overhaul of the way the central bank deals with lenders in financial difficulties, bringing it in line with the Federal Reserve and the ECB." (Financial Times)
Fed proposes new liquidity rules for banks: "The Federal Reserve on Thursday proposed new liquidity requirements for large US banks aimed at helping them withstand a credit crunch, including some tougher standards than those contained in the Basel III international regulatory accord. Fed governor Daniel Tarullo called the Fed liquidity rules "super equivalent" to Basel because of those differences. For example, what is covered under high quality liquid assets is narrower in the Fed rules than in Basel III. The US proposal does not include covered bonds or private label mortgage-backed securities, which the Fed deems as less liquid." (Financial Times)
