Reuters alone with FDIC rules for bank investing

Reuters was alone with news on Aug. 3 that U.S. banking regulator FDIC is set to come out with controversial rules for private equity investment in banks this month. Reuters was also alone narrowing the leverage ratio likely to be used to 10pct (from 15pct proposed). The story got a lot of media play, including on the New York Times’ Dealbook page and the FT’s dealsite Alphaville. The story also provoked an angry response from the Private Equity Council`s PR head. He emailed top buyout execs at TPG, KKR, Carlyle, and Blackstone reprimanding everyone for talking to Reuters about the guidelines as it is “extremely disturbing that the press is aware of our internal deliberations on this sensitive matter”