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EU Financial Services Chief Eyes 2027 Start For Markets Reforms

The European Union hopes to begin implementing its ambitious market integration package by 2027, the bloc’s financial services commissioner said on Tuesday, giving the first guidance on the reforms’ timeline.

By Lyubov Pronina, Jorge Valero and Oliver Crook

Private Credit Hit Deployment Record Last Year, ACC Report Says

The amount of capital that private credit firms have deployed reached a record last year, according to a new report from the Alternative Credit Council, with the larger players like Ares Management Corp., Apollo Global Management Inc. and Blackstone Inc. playing an increasingly dominant role.

RBA’s Bullock Rules Out Further Rate Cuts, Sends Yields Soaring

Australia’s central bank Governor Michele Bullock called an end to a truncated easing cycle as policymakers gauge whether a pickup in inflation requires an extended interest-rate pause or a switch to tightening.

When Banks Need Capital, Synthetic Isn’t Good Enough: Editorial

The world’s banks are facing a big challenge: If more indebted companies follow auto dealer Tricolor Holdings and parts supplier First Brands Group into bankruptcy, lenders will need to be strong enough to survive the losses without damaging the broader economy.

Famed Bear Michael Burry Says He’s Bullish on Fannie and Freddie

Michael Burry, the money manager made famous in The Big Short, says he holds sizable positions in both Fannie Mae and Freddie Mac common stock and believes a re-listing of the US housing-finance giants is “nearly upon us.”

CFTC Deepens Crypto Push With Approval of Derivatives Collateral

The Commodity Futures Trading Commission will allow Bitcoin, Ether, and the dollar-pegged stablecoin USDC to be used as collateral for derivatives trades, a decision that pushes crypto deeper into the plumbing of US finance.

Bank CEOs Expected to Meet Senators on Crypto Market Structure

Bank of America Corp. chief executive officer Brian Moynihan, Citigroup Inc. CEO Jane Fraser and Wells Fargo & Co. CEO Charlie Scharf are scheduled to meet with senators in both parties on Thursday to discuss crypto market legislation that could soon come to a vote, according to a person familiar with the plans.

Morgan Lewis Recruits Pair of Dubai Corporate Partners

Victoria Ferres and Sami Ben Dechiche joined Morgan Lewis as investment management partners in Dubai, the firm announced Monday.

CFTC Starts Pilot to Allow Bitcoin, ETH as Derivative Collateral

The Commodity Futures Trading Commission has launched a pilot program to allow the use of some digital assets, including Bitcoin, Ether and Circle’s USDC stablecoin, as collateral in derivatives markets, CFTC says in a statement, citing Acting Chairman Caroline D. Pham.

Dollar Financial Group Hit With Suit Over November Data Breach

Dollar Financial Group Inc. failed to protect the personal information of thousands of customers that was exposed in a November data breach, a proposed federal class action said.