HOUSE_OVERSIGHT_026799.jpg
1.76 MB
Extraction Summary
1
People
6
Organizations
2
Locations
0
Events
1
Relationships
5
Quotes
Document Information
Type:
Presentation slide / corporate internal report
File Size:
1.76 MB
Summary
A Deutsche Bank presentation slide authored by Francis J. Kelly (Global Public Affairs) analyzing regulatory risks for hedge funds and private equity. The document argues that despite political 'chatter' regarding carried interest and shadow banking, little legislative action is expected through 2016. It contrasts this with 'Big Banks,' noting that legislation is moving forward to significantly drop guaranteed interest rates from the Federal Reserve to fund the Highway Trust Fund.
People (1)
| Name | Role | Context |
|---|---|---|
| Francis J. Kelly | Author / Contact |
Deutsche Bank Global Public Affairs executive listed on the slide footer.
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Organizations (6)
| Name | Type | Context |
|---|---|---|
| Deutsche Bank |
Creating organization of the document
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|
| IRS |
Mentioned regarding auditing hedge funds
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| Federal Reserve |
Mentioned regarding interest rates for banks
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|
| Congress |
Legislative body mentioned regarding regulations
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| Highway Trust Fund |
Fund mentioned as reason for raising revenue
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| Republicans |
Political party moving legislation forward
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Locations (2)
| Location | Context |
|---|---|
|
Used metonymically for the US Government
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Jurisdiction for the banks discussed
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Relationships (1)
Listed as contact for Deutsche Bank Global Public Affairs
Key Quotes (5)
"Should hedge funds and private equity funds be worried about Washington? No."Source
HOUSE_OVERSIGHT_026799.jpg
Quote #1
"But chatter does not mean action and we see little actual movement toward raising the rates on carried interest through 2016."Source
HOUSE_OVERSIGHT_026799.jpg
Quote #2
"Good luck with that."Source
HOUSE_OVERSIGHT_026799.jpg
Quote #3
"Again, chatter is not action."Source
HOUSE_OVERSIGHT_026799.jpg
Quote #4
"But “Big Banks” continue to take it on the chin"Source
HOUSE_OVERSIGHT_026799.jpg
Quote #5
Full Extracted Text
Complete text extracted from the document (1,278 characters)
Should hedge funds and private equity funds be worried about Washington? No.
- There continues to be chatter about dealing with carried interest. But chatter does not mean action and we see little actual movement toward raising the rates on carried interest through 2016.
- The new “tax reform” focused on hedge funds is projected to raise $11 billion a year. Somehow this gets done by allowing the IRS to audit hedge funds and find this amount of unreported revenue annually. Good luck with that.
- Private Equity has also been a focus of political chatter – maybe we see new regulation on the burgeoning “Shadow Banking” sector? Again, chatter is not action. There is little chance Congress or regulators will move aggressively in this space through 2016.
- But “Big Banks” continue to take it on the chin: In an effort to raise revenue for the Highway Trust Fund, Republicans have legislation moving forward that would drop the guaranteed interest rate banks receive for “investing” in the Federal Reserve – which they are required to do by law - from 6 percent to 1.5 percent. This will result in a significant drop in revenues for some of the biggest banks in the US.
Deutsche Bank
Global Public Affairs
Francis J. Kelly
francis.j.kelly@db.com
5
HOUSE_OVERSIGHT_026799
Global Public Affairs
Francis J. Kelly
francis.j.kelly@db.com
5
HOUSE_OVERSIGHT_026799
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