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February 12, 2013
14:29 EDTFII, TROW, BENFederal Reserve presidents support money market mutual fund reform in letter
The presidents of the twelve Federal Reserve Banks have submitted a joint letter responding to the Financial Stability Oversight Council's proposal on money market mutual fund reform, according to an announcement posted to the site of the Federal Reserve Bank of Boston. The twelve Reserve Bank presidents support the Council's efforts to address the structural vulnerabilities of MMFs. They also agree with the Council's determination that MMFs' activities and practices could create or increase the risk of liquidity and credit problems spreading through the financial system. In the letter, the Reserve Bank presidents discuss the risks associated with MMF activities and practices, focus on issues that should be addressed as part of any reform proposal, such as enhancing the accuracy of market-based net asset values, present observations on each of the three reform alternatives in the Council’s proposal, discuss why standby liquidity fees and temporary redemption gates would not address financial stability risks, and concur with the Council that more than one alternative could address the financial stability concerns posed by MMFs – for example, fund sponsors could be permitted to offer both a floating NAV fund and separately a stable NAV fund with a capital buffer or a buffer coupled with a Minimum Balance at Risk. The Fly notes that Federated Investors (FII) CEO Christopher Donahue has been an outspoken opponent of an effort to impose new regulations on the industry. Reference Link
News For FII;TROW;BEN From The Last 14 Days
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July 31, 2014
10:02 EDTBENOn The Fly: Analyst Downgrade Summary
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06:13 EDTBENFranklin Resources downgraded to Neutral from Buy at Citigroup
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July 30, 2014
08:32 EDTBENFranklin Resources reports Q3 EPS 92c, consensus 95c
Reports Q3 revenue $2.13B, consensus $2.17B. Total assets under management were $920.5B at June 30, up 4% during the quarter primarily due to $31.9B of market appreciation. AUM increased $105.5B or 13% year over year primarily due to $116.9B of market appreciation, partially offset by $7.2B of net new outflows.
July 29, 2014
15:53 EDTBENNotable companies reporting before tomorrow's open
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July 24, 2014
16:40 EDTFIIFederated Investors reports Q2 EPS 35c, consensus 36c
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07:37 EDTTROWT. Rowe Price: US recovery modest, but strong enough to repair balance sheets
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07:36 EDTTROWT. Rowe Price reports Q2 EPS $1.13, consensus $1.12
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July 20, 2014
11:58 EDTTROWCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link
July 18, 2014
12:36 EDTFIIPlug Power said to be on list of companies probed by SEC, Probes Reporter says
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