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WRAPUP 8-Fed ramps up economic stimulus, ready to do more 20 Jun. 2012 By Mark Felsenthal and Pedro da Costa WASHINGTON, June 20 - The U.S. Federal Reserve on Wednesday delivered another round of monetary stimulus and said it was ready to do even more to help an increasingly fragile U.S. economic recovery. The central bank expanded its 'Operation Twist' by $267 billion, meaning it will sell that amount of short-term securities to buy longer-term ones to keep long-term borrowing costs down. The program, which was due to expire this month, will now run through the end of the year. Fed Chairman ... Read more | Comments

UPDATE 1-Eagle Bulk reaches agreement with lenders 20 Jun. 2012 Shares up 11 pct after market Co to receive new $20 mln facility June 20 - Debt-laden drybulk shipper Eagle Bulk Shipping Inc reached an agreement with its lenders, sending its shares up as much as 11 percent in extended trade. The lenders, led by Royal Bank of Scotland Plc, have agreed to permanently waive any purported defaults, the company said In a statement. The $1.13 billion outstanding under the existing revolver will be converted to a term loan which matures in 2015, Eagle Bulk said. The ... Read more | Comments

Schapiro takes money market reform case to U.S. Congress 20 Jun. 2012 By Dave Clarke WASHINGTON, June 20 - Securities and Exchange Commission Chairman Mary Schapiro will brief Congress on Thursday on her case for tightening the regulation of money market funds, arguing they remain a threat to the economy. In testimony prepared for a Senate Banking Committee hearing, Schapiro argues that reforms put in place in 2010 after a run on some funds in 2008 were not sufficient. 'The next run might be even more difficult to stop, however, and the harm will not be limited to a discrete group of ... Read more | Comments

Motiva Texas refinery shuts reformer, hydrotreater -sources 20 Jun. 2012 HOUSTON, June 20 - Motiva Enterprises 600,000 barrel per day (bpd) Port Arthur, Texas, refinery was shutting a catalytic reformer and a catalytic feed hydrotreater on Wednesday because of a lack of feedstock due to the shutdown of the 325,000 bpd crude distillation unit, said sources familiar with refinery operations. Motiva built a reformer, which creates gasoline additives, during the 5-year, $10-billion project in which the shut CDU was built. The reformer being shut was not built during the expansion project, the sources said. ... Read more | Comments

UPDATE 2-BofA directors settle lawsuit over Merrill-judge 20 Jun. 2012 Definitive settlement in lawsuit vs BofA directors Final OK may wait until after trial in securities case Directors accused of letting bank overpay for Merrill (Adds Bank of America comment, closing share price) June 20 - Bank of America Corp directors have reached a definitive settlement of litigation by shareholders, who accused th e bank of overpaying for Merrill Lynch & Co, a federal judge said on Wednesday. In a written order, U.S. District Judge P. Kevin Castel in Manhattan did not reveal ... Read more | Comments

BRIEF-Chesapeake Midstream Partners updates on credit agreement 20 Jun. 2012 June 20 - Chesapeake Midstream Partners LP: On June 15, entered into second amendment to amended and restated credit agreement-SEC filing Amendment raises sublimit applicable to letters of credit from $50 million to $200 million Amendment does not increase $1 billion revolving commitment that co may request under facility ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) Read more | Comments

BRIEF-Moody's rates Laurentian Energy Authority bonds 20 Jun. 2012 June 20 - Moody's assigns Ba2 rating to Laurentian Energy Authority's Cogeneration Bonds; outlook is negative (Reporting By Hilary Russ) Read more | Comments

Templeton's Hasenstab says euro zone crisis a 'blessing' 20 Jun. 2012 CHICAGO, June 20 - Michael Hasenstab, who runs the $57 billion Templeton Global Bond Fund, said on Wednesday that the European debt crisis is a 'blessing in disguise' and criticized the dollar as a safe haven. Speaking at the 2012 Morningstar Investment Conference, Hasenstab said that the European debt crisis has revealed that Europe suffers from not having a fiscal union and a 'lack of competitiveness and convergence' between its countries. Hasenstab added that leaving the euro zone crisis is 'going to be messy, but it's not ... Read more | Comments

NYSE CEO: market reforms needed to boost confidence 20 Jun. 2012 By John McCrank WASHINGTON, June 20 - Dozens of small and medium-sized private companies are talking to the New York Stock Exchange about going public because of a recent law, but more reforms are needed to ensure successful IPOs, NYSE Euronext Chief Executive Duncan Niederauer said on Wednesday. Niederauer, testifying before a congressional hearing on market reforms, said NYSE has had conversations with 50 to 100 of these companies since the legislation was passed in March. The JOBS Act eases regulatory burdens ... Read more | Comments

UPDATE 1-Two Gulf of Mexico natgas platforms shut after leak 20 Jun. 2012 By Edward McAllister NEW YORK, June 20 - Two natural gas platforms in the High Island area of the Gulf of Mexico have been shut after a pipeline was seen leaking on Tuesday, an Enterprise Products Partners spokesman said Wednesday. Enterprise does not operate either platform, the spokesman said, but the company was aware of the leak, which occurred on a feed line in between the platforms and Enterprise's major High Island Offshore System (HIOS). HIOS is a 291-mile pipeline that transports production from fields in the western ... Read more | Comments