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The uniform net capital rule is a rule created by the U.S. Securities and Exchange Commission ("SEC") in 1975 to regulate directly the ability of broker-dealers to meet their financial obligations to customers and other creditors. [1]
The financial term "haircut" began, and continues to be used, as a reference to valuation discounts applied under the U.S. Securities and Exchange Commission's net capital rule. The net capital rule was adopted to provide safeguards for public investors by setting standards of financial responsibility to be met by broker-dealers and requires a ...
On April 28, 2004, the SEC voted unanimously to change the net capital rule which applies to broker-dealers, thus allowing those with "tentative net capital" of more than $5 billion to increase their leverage ratios. [7] The rule change remains in effect, though subject to modifications.
In some stock markets, the October Effect also referred to as the Mark Twain effect is the phenomenon of stock returns in October being lower than in other months. [1] The reference to Mark Twain comes from a line in Mark Twain's Pudd'nhead Wilson: "October.
WASHINGTON (Reuters) -The U.S. banking industry urged the Federal Reserve Tuesday to completely redo a contentious new rule to hike bank capital, while a senior Fed official aired support for ...
The policy reason for the two-percent haircut is quite evasive. We may be able to gauge Congress' intent with the two-percent haircut by looking at the possible reasons for including certain items. The most significant expense that is categorized as a miscellaneous itemized deduction is the unreimbursed business expenses of an employee. [3]
Powell made it clear that new rules that may be considered this year by the Fed board would not affect community banks and instead would impact the “biggest banks” and those in the range of ...
The new proposal would increase capital levels for big banks like JPMorgan Chase and Bank of America by 9% in aggregate, down by half from the original plan from more than a year ago, which set ...