Fed News, Prosper Financing, ABS East Highlights
By Vy Phan
September 24, 2017


- Reduce its principal reinvestments by $10 Bn in each the next three months ($6 Bn from treasuries and $4 Bn from MBS).
- Every three months, the Fed plans to reduce principal reinvestments by an additional $10 Bn, until it reaches $50 Bn per month ($30 Bn from maturing Treasuries and $20 Bn from maturing MBS).
- This plan will effectively reduce the Fed's assets by $420 Bn in 2018, and $600 Bn in subsequent years.

Conferences:
- Ram will speak on the “Legacy of Madden" Panel at 9:40AM at the Online Lending Policy Summit on September 25th in Washington, DC. Speakers also include Keith Noreika, Acting Comptroller of the Currency, Congressman French Hill, Congressman Greg Meeks, and representatives from OCC, CFPB and Treasury. Register here.
- Ram will speak at the 1010Data Discovery Summit on October 5 in New York, discussing PeerIQ’s data partnership with 1010Data at 11:15-11:55AM.
- Ram will speak at FinTech Rising ’17 with 20+ FinTech founders. Get 25% off with code FTR25
PeerIQ in the News:
- Bond Buyers Stick With SoFi (AB Alert, 9/22/17) The exit of SoFi founder Mike Cagney isn’t dampening investor enthusiasm for the company’s asset-backed bonds.
- PeerIQ Pokes Around SoFi Fallout, Recent Securitizations (AlternativeLending.io, 9/18/17)
- SoFi CEO Resigns; Goldman & Mosaic Ink Deal; SoFi & Lending Club Deal Analysis (PeerIQ), Rated: AAA (Lending Times, 9/18/17)
- US Consumer Finance Agency Expected to Punish Equifax (NYT, 9/22/17) Equifax is not strictly a financial company and there are questions about whether the CFPB has the power to penalize the firm for the breach.
- JPMorgan Seeks to Banish Paper Payments With a Fintech Venture (Bloomberg, 9/19/17) JPMorgan to start offering Bill.com’s services to clients in 2018.
- Federal Reserve Attorney: US Not Interested in Fintech Sandboxes (Crowdfund Insider, 9/18/17) Report in Bloomberg Law that Federal Reserve Attorney in which Gerald Tsai indicated the US is not that interested in creating a regulatory Sandbox or Fintech Sandbox.
- Fed to Start Paring Holdings, Keeps December Rate Rise on the Table (WSJ, 9/20/17) The Federal Reserve indicated Wednesday it remained on track to raise short-term rates later this year and said it would begin shrinking its portfolio of bonds next month.
- Don’t let court squander online lenders’ chance to reach underserved (American Banker, 9/19/17) Nathanial Hoopes illustrates the adverse impacts stemming from the Madden decision.
- First Associates Loan Servicing Earns Morningstar’s Highest Ranking (PRWeb, 9/20/17) First Associates Loan Servicing announced the release of the Morningstar ranking report certifying their overall excellence in loan servicing.
- Scientists Discover a Jewel at the Heart of Quantum Physics (Wired, 12/11/13) Physicists reported the discovery of a jewel-like geometric object that dramatically simplifies calculations of particle interactions and challenges the notion that space and time are fundamental components of reality.