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Banking

RATING AGENCIES – U.S. UNDER PRESSURE

Pressure from Congress in the wake of the global financial crisis led the SEC to expedite its lethargic and opaque process of registering rating agencies. As a result there are now 10 Nationally Recognized Statistical Ratings Organizations (NRSROs).

Economics, Policy & Regulation

LAME DUCK CONGRESS TO TACKLE INVERSIONS

MANAGEMENT | TAX PLANNING<br /> When Congress returns following the November elections, the issue of what to do about US companies making foreign acquisitions to relocate overseas and save on taxes will be high on the agenda.

Capital Raising & Corporate Finance

NO COLLATERAL DAMAGE TO HEDGES AFTER ALL

MANAGEMENT | DERIVATIVES REGULATION<br /> Nonfinancial corporations that hedge risk by using derivatives not traded on exchanges won an important victory in early September, when US bank regulators agreed to exempt such companies from rules that would have required them to post collateral against their positions.

Capital Raising & Corporate Finance

TORONTO, VANCOUVER PARTNER TO FORM RENMINBI TRADING HUB

TRENDS | RENMINBI TRADING<br /> Even though Toronto is the center of Canada’s financial industry, much of the country’s trade with China passes through Vancouver. Groups in both cities have decided to work together to promote Canada as a trading hub for the renminbi.

Award Winners

BEST INTERNET BANKS 2014 ROUND 1

In this first installment of a two-part series, Global Finance identifies the top online corporate and consumer banks by country and then by region, according to product or service category.

Banking

US EX-IM BANK FACES AN UNCERTAIN FUTURE

UNITED STATES<br /> In its 2013 report to Congress, the Export-Import Bank of the United States says that its “overriding mission is to create and sustain American jobs by supporting US exports.” But that very mission is under threat, with House Financial Services Committee chairman Jeb Hensarling, among others, seeking to abolish the bank.

Capital Raising & Corporate Finance

WALGREENS DUMPS INVERSION AS OBAMA BERATES “DESERTERS”

MANAGEMENT | TAX PLANNING<br /> Gregory Wasson, president and CEO of Walgreen, says the company “concluded it was not in the best interest of shareholders to attempt to re-domicile outside the US” to cut its tax bill.

Banking

FORMER DERIVATIVES SUPERSTAR TAKES THE HELM AT AIG

UNITED STATES<br /> After steering American International Group (AIG) during the financial crisis and putting it back on a sounder footing, president and chief executive officer Robert Benmosche is handing the baton over to Peter Hancock.
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