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October 2023 Financial Stability Report

The Fed's October 2023 Financial Stability Report: Three-fourths of survey participants cite persistent inflation and potential residential and commercial real estate losses as top concerns.

Highlights: Asset valuations: Equity prices grew faster than expected earnings, pushing the forward price-to-earnings ratio into the upper ranges of its historical distribution. Risk premiums in corporate bond markets narrowed somewhat and remained near the middle of their historical distributions. Prices of residential and commercial properties remained high relative to

IRS Launches New Initiatives Using Inflation Reduction Act

U.S. Department of Treasury: IRS Launches New Initiatives Using Inflation Reduction Act Funding to Ensure Large Corporations Pay Taxes Owed.

Following a dramatically improved 2023 Filing Season thanks to Inflation Reduction Act (IRA) investments, the Internal Revenue Service (IRS) has targeted IRA resources on strengthening enforcement, with announcements on new initiatives to pursue high-income, high-wealth individuals who do not pay overdue tax bills and complex partnerships. Today the IRS is

Retail trade, August 2023

Canada Retail Sales down .1% to $66.1 billion in August. Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—were down 0.3% in August. A .3% decrease was expected...

Wut Mean?: * Retail sales decreased by 0.1% to $66.1 billion in August. * Six of nine retail subsectors saw decreased sales. * Largest decrease: Motor vehicle and parts dealers (-0.9%). * Core retail sales (excluding gasoline stations, fuel vendors, and motor vehicle and parts dealers) decreased by 0.3%. * Retail

BGC Financial, L.P. (Respondent)

FINRA 'discipline' Alert! From December 2014 through January 2021, BGC Financial, L.P. could NOT effectively detect spoofing and layering on ~7,765,000 transactions. Penalty? Censure, $200,000 fine, with no admission of wrong doing.

Hello and happy Thursday, I hope everyone is enjoying a great week on this Friday eve! I would like to share some more FINRA 'discipline' with y'all, this time it's BGC Financial, L.P.! As these releases convey a ton of information, I hope

Compliance with the Block and Cap Amendments

CFTC Extends No-Action Enforcement on Block & Cap Amendments. A dive into the CFTC's DELAYED regulations aimed at refining swap data reporting, ensuring transparency, & maintaining market integrity.

Wut Mean?: * The letter addresses a request from swap data repositories Chicago Mercantile Exchange Inc., ICE Trade Vault, LLC, DTCC Data Repository (US) LLC, and KOR Reporting Inc. to extend a no-action position detailed in CFTC Letter No. 22-03. * The Swap Data Repositories (SDRs) want the Division of Market Oversight

Fed Vice Chair for Supervision Michael S. Barr

Fed Vice Chair for Supervision Michael S. Barr: "It is particularly important for us to consider a range of market shocks because some concentrated counterparty exposures may be revealed only under certain scenarios."

Highlights: * "A recent study confirms this experience, finding that banks subject to the stress test were less exposed to common systemic risks. In addition, the stress test helps to make capital requirements less susceptible to gaming by firms and therefore more likely to be set at adequate levels. This

Sales of previously owned homes in the US fell by 2% in September

National Association of Realtors: Sales of previously owned homes in the US fell by 2% from August to a seasonally adjusted annualized rate of 3.96 million units in September of 2023, the lowest since October 2010.

Highlights: * Existing-home sales slid 2.0% in September to a seasonally adjusted annual rate of 3.96 million. Sales are down 15.4% from one year ago. * The median existing-home sales price grew 2.8% from one year ago to $394,300, marking the third consecutive month of year-over-year price