CFTC Chairman Gary Gensler spoke before the U.S. Senate Banking, Housing and Urban Affairs Committee addressing swaps market reforms through the implementation of the Dodd-Frank Act. Chairman Gensler testified as to what he believes are the benefits which end-users will see as a result of recent swaps rulemaking reforms. Gensler stated that the putative benefits include: Increased transparency as a result of swap dealers being required to report in real time their interest rate and credit index swap transactions to the public and regulators, and a requirement (as of February 28, 2013) to

Federal financial regulatory agencies published in the Federal Register a final rule that establishes new appraisal requirements for "higher-priced mortgage loans". This rule implements the Truth in Lending Act amendments under the Dodd-Frank Act. The rule is being issued by the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the National Credit Union Administration, and the Office of the Comptroller of the Currency. Effective Date: January 18, 2014. Cross-Reference(s)

SIFMA released a statement from Kenneth E. Bentsen, Jr. (executive vice president, public policy and advocacy) in response to President Obama's endorsement of beginning negotiations with the EU on a comprehensive Transatlantic Trade and Investment Partnership. The statement from SIFMA said, "We strongly support such a partnership, which we believe should include financial services. . . . We encourage negotiators to focus on areas such as market access, extra-territoriality, and on enhancing regulatory efficiency that allows for increased growth and more efficient markets." Click here to view

Senator Bob Casey (D-Penn.) has joined the Senate Finance Committee for the 113th Congress, filling the seat of former Senator John Kerry (D-Mass.), who left the Senate this month to become Secretary of State. See: Statement by Chairman Max Baucus.

Senate Banking, Housing and Urban Affairs Committee Chairman Tim Johnson released his Committee agenda for the 113th Congress. According to the agenda, Chairman Johnson's focus will be on strengthening and sustaining the nation's economic recovery, with top priorities including: continued oversight of Wall Street Reform implementation, building bipartisan consensus on the future of housing finance, reauthorizing expiring programs within the Committee's jurisdiction, and considering the President's nominees expeditiously. Lofchie Comment : Not too much common ground between the House and the