CongressionalHearings/MonetaryPolicy/House_Financial_Services/HFS_-_July_20,_2006/CHRG-109hhrg31539--244.txt Mr. Greenspan suggested that the cost to business would prohibit stronger data collection , discounting the positive effects to the economy of increasing minority homeownership and small business lending . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_24,_2009_Fed_Reserve/CHRG-111shrg50814--4.txt Given the scope of the Federal Reserve 's recent actions , it seems unlikely that any future student will conclude that today 's Federal Reserve was too timid in the face of this crisis , Mr. Chairman . FCIC/FCICFinalReport/fcic_final_report_full--318.txt It had already dropped WaMu 's rating significantly in March , indicating a `` high level of concern . '' CongressionalHearings/Dodd-Frank/CHRG-111shrg56415/CHRG-111shrg56415--246.txt Since net income is not easily increased in a fast-changing environment , state regulators recommend additional capital-raising capabilities for credit unions . CongressionalHearings/Other/Senate_Homeland_Security_and_Government_Affairs/SHSGA_-_High_Risk_Home_Loans/CHRG-111shrg57319--220.txt --------------------------------------------------------------------------- WaMu Capital Corp. acted as an underwriter of securitization transactions generally involving Washington Mutual Mortgage Securities Corp or WaMu Asset Acceptance Corp. . CongressionalReports/AnatomyofCollapse/FinancialCrisisReport--34.txt 56 6/24/2010 supplemental response from S&P to the Subcommittee , Exhibit N , Hearing Exhibit 4/23-108 -LRB- 1/30/2008 `` S&P Takes Action on 6,389 U.S. Subprime RMBS Ratings and 1,953 CDO Ratings , '' S&P 's RatingsDirect -RRB- . CongressionalHearings/Other/Senate_Homeland_Security_and_Government_Affairs/SHSGA_-_High_Risk_Home_Loans/CHRG-111shrg57319--6.txt I understood that the regulatory agencies and WaMu 's Board of Directors were interested in expanding risk management functions within the company to meet this demand . CongressionalHearings/Dodd-Frank/CHRG-111shrg54533/CHRG-111shrg54533--83.txt There 's no excuse for allowing a financial services company to take advantage of American consumers by selling them dangerous financial products . CongressionalHearings/Dodd-Frank/CHRG-111shrg53085/CHRG-111shrg53085--213.txt A change in federal regulatory culture is essential Consumer advocates have long noted that federal banking agencies give insufficient attention to achieving effective consumer protection . CongressionalReports/AnatomyofCollapse/FinancialCrisisReport--67.txt Those loans were typically purchased by the government sponsored enterprises -LRB- GSEs -RRB- Fannie Mae and Freddie Mac which paid relatively low prices for them . CongressionalHearings/Dodd-Frank/CHRG-111shrg51303/CHRG-111shrg51303--178.txt I have read a number of times statements that the New York State Insurance Department is the primary regulator of AIG . CongressionalHearings/Other/Senate_Homeland_Security_and_Government_Affairs/SHSGA_-_Bank_Regulators/CHRG-111shrg57320--5.txt The Board Resolution only addressed WaMu 's short-term liquidity issues and did not require it to address systemic problems repeatedly noted by OTS . CongressionalReports/AnatomyofCollapse/FinancialCrisisReport--147.txt 547 It was also an opportunity to meet WaMu 's top executives , including Mr. Killinger , Mr. Rotella , and Mr. Schneider . FOMC/FOMC20050630meeting/FOMC20050630meeting--380.txt MR. OLSON. According to some lenders , about 20 to 25 markets bear careful watching , and lenders have started to exercise restraint in those markets . CongressionalReports/AnatomyofCollapse/FinancialCrisisReport--110.txt By the end of 2007 , 84 % of the total value of the Option ARMs in WaMu 's investment portfolio was negatively amortizing . FOMC/FOMC20070807meeting/FOMC20070807meeting--17.txt MR. DUDLEY. It also reflects efforts to hedge subprime risk by going short these indexes by people who ca n't liquidate securities easily . CongressionalHearings/TARP/CHRG-110shrg50417/CHRG-110shrg50417--153.txt The percentage depends on the borrower 's income level -- higher income borrowers are allowed to have higher percentages . CongressionalReports/AnatomyofCollapse/FinancialCrisisReport--150.txt The plan stated : `` Overages ... -LSB- give a -RSB- Loan Consultant -LSB- the -RSB- -LSB- a -RSB- bility to increase compensation -LSB- and -RSB- -LSB- e -RSB- nhance compensation/incentive for Sales Management ... . CongressionalHearings/Dodd-Frank/CHRG-111hhrg52400/CHRG-111hhrg52400--20.txt The backbone of the industry 's financial strength is the State-imposed reserve requirements , and specifically the contingency reserve . CongressionalHearings/Dodd-Frank/CHRG-111shrg54675/CHRG-111shrg54675--89.txt Mr. Hopkins and Mr. Johnson , both of your institutions are members of the Federal Home Loan Bank system . CongressionalHearings/Dodd-Frank/CHRG-111shrg51290/CHRG-111shrg51290--67.txt Federal Law Following deregulation of home mortgages in the early 1980 's , disclosure became the most important type of Federal mortgage regulation . CongressionalHearings/Dodd-Frank/CHRG-111shrg54675/CHRG-111shrg54675--83.txt Federal Reserve surveys show that the Nation 's large banks tightened underwriting standards for the better part of the past year . FCIC/FCICFinalReport/fcic_final_report_full--14.txt Low interest rates , widely available capital , and international investors seeking to put their money in real estate assets in the United States were prerequisites for the creation of a credit bubble . CongressionalHearings/MonetaryPolicy/House_Financial_Services/HFS_-_July_21,_2009_Fed_Reserve/CHRG-111hhrg53244--269.txt Mr. Minnick , '' Mr. Chairman , I wanted to return to the next shoe to drop and the chairman 's concern about commercial real estate . CongressionalReports/AnatomyofCollapse/FinancialCrisisReport--155.txt G. Preventing High Risk Lending Washington Mutual was a $ 300 billion , 120-year-old financial institution that was destroyed by high risk lending practices . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_21,2010_Fed_Reserve/CHRG-111shrg62643--230.txt The Federal Reserve 's legal authority largely limits Federal Reserve purchases of securities to Treasury , agency , and agency-guaranteed securities . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_21,2010_Fed_Reserve/CHRG-111shrg62643--230.txt Finally , the Federal Reserve can sell assets at an appropriate time and pace to further tighten the stance of monetary policy . FCIC/FCICFinalReport/fcic_final_report_full--172.txt During a June meeting , the Federal Open Market Committee -LRB- FOMC -RRB- , com - posed of Federal Reserve governors , four regional Federal Reserve Bank presidents , and the Federal Reserve Bank of New York president , heard five presentations on mortgage risks and the housing market . FCIC/FCICFinalReport/fcic_final_report_full--545.txt Federal Reserve Bank of New York One of regional Federal Reserve Banks , with responsibility for regulating bank holding companies in New York State and nearby areas . CongressionalHearings/Dodd-Frank/CHRG-111shrg56262/CHRG-111shrg56262--93.txt Limitations and Deficiencies in Securitization Revealed by the Recent Financial Market Crisis The recent financial market crisis revealed several limitations and weaknesses in securitization market activity . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_14,_2007_Fed_Reserve/CHRG-110shrg38109--39.txt Chairman Bernanke , the Federal Open Market Committee has held the Federal funds rate target at 5.25 percent since June 2006 . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_Feb_25,2010_Fed_Reserve/CHRG-111shrg61513--124.txt In addition , Federal Reserve staff made significant contributions to the Basel Committee 's Principles for Sound Liquidity Risk Management and supervision issued in September 2008 . CongressionalHearings/MonetaryPolicy/House_Banking_Committee/HB_-_June_9,_2010_State_of_the_Economy:_View_from_Fed_Reserve/CHRG-111hhrg56847--261.txt Mr. Chairman , the Treasury is pouring money into Fannie and Freddie , keeping it afloat to support the current structure of housing finance . CongressionalReports/AnatomyofCollapse/FinancialCrisisReport--90.txt Evidence gathered by the Subcommittee from OTS examination reports , WaMu internal 276 2/7/2005 OTS Letter to Washington Mutual Board of Directors on Matters Requiring Board Attention , OTSWMEF-0000047591 , Hearing Exhibit 4/16-94 -LSB- Sealed Exhibit -RSB- . CongressionalHearings/Dodd-Frank/CHRG-111shrg56415/CHRG-111shrg56415--80.txt The larger banks ' loan performance reflects record high loss rates on credit card loans and record delinquencies on mortgage loans . CongressionalHearings/Dodd-Frank/CHRG-111shrg56376/CHRG-111shrg56376--127.txt The Treasury Proposal would make these types of firms subject to the Bank Holding Company Act and supervision by the Federal Reserve Board . CongressionalHearings/Dodd-Frank/CHRG-111hhrg53241/CHRG-111hhrg53241--28.txt I previously spent 26 years with the Federal Reserve System , 15 years as an Associate General Counsel at the Board in Washington . CongressionalHearings/MonetaryPolicy/Senate_Banking,_Housing_and_Urban_Affairs/SBHUA_-_July_15,_2008_Fed_Reserve/CHRG-110shrg50409--8.txt Mr. Bernanke , '' Chairman Dodd , Senator Shelby , and Members of the Committee , I am pleased to present the Federal Reserve 's Monetary Policy Report to the Congress .