November 8, 2021
Via: Banking DiveFederal Reserve Gov. Randal Quarles resigned Monday in a move that allows President Joe Biden to give the central bank a Democratic majority. Quarles’ seat is the third Fed post Biden could fill in the coming months. One seat on […]
October 27, 2021
Via: Banking DiveFed rules issued last Thursday limit senior officials’ investments to “purchasing diversified investment vehicles, like mutual funds,” the central bank said. Tuesday’s bill would codify that into law. The bill would prevent the Fed’s board of governors, 12 regional presidents […]
Capital and Risk, Channels, Credit
October 19, 2021
Via: Payments DiveOver 10 years after Congress brought competition to how in-store debit card transactions are processed, the Federal Reserve is finally seeking to clarify that the same rules apply to online debit transactions as well. The move has been strongly backed […]
October 8, 2021
Via: YahooOver the past five trading sessions, the performance of major bank stocks depicted an optimistic stance. The continued market optimism on the back of the Federal Reserve’s slightly hawkish stance on monetary policy is driving the bank stocks. Thus, yields […]
September 16, 2021
Via: DailyFXA stellar retail sales report takes the USD to fresh session highs and raises the probability of a more hawkish Fed at next week’s meeting. A beat across the board in the data where consensus had been looking for a […]
Capital and Risk, Macroeconomic
August 26, 2021
Via: DailyFXHINTING AT TAPERING A slew of hot labor market reports and inflation rate readings have set the stage for a more hawkish Federal Reserve in the coming months. FOMC policymakers seem to concur, insofar as the tone of commentary over […]
July 28, 2021
Via: DailyFXThe Federal Reserve just released its latest update on monetary policy. FOMC officials left benchmark interest rates and the pace of asset purchases unchanged as widely expected, but changes to language in the press statement is fueling some volatility. Specifically, […]
Capital and Risk, Macroeconomic
July 13, 2021
Via: CNSNews.comAre the Democrats headed for their Little Bighorn, with President Joe Biden as Col. Custer? The wish, you suggest, is father to the thought. Yet, consider. On taking office, Biden held a winning hand. Three vaccines, with excellent efficacy rates, […]
May 21, 2021
Via: Payments DiveFederal Reserve Chairman Jerome Powell shifted his tack slightly Thursday on the topic of creating a central bank digital currency, saying the Fed will issue a paper this summer designed to “stimulate broad conversation” about the possibility. In a brief […]
May 6, 2021
Via: Banking DiveThe Federal Reserve has shown twice this week that it is open to applying its regulatory framework beyond the tidy little box where banks reside. First, in comments to a fair-lending advocacy group Monday, Fed Chair Jerome Powell said the […]
April 14, 2021
Via: Banking DiveThe San Francisco-based lender expressed optimism that a bounce back of the American economy is starting to show results. “Our results for the quarter … reflected an improving U.S. economy, continued focus on our strategic priorities, and ongoing support for […]
Capital and Risk, Macroeconomic
March 17, 2021
Via: CNBCThe Federal Reserve on Wednesday dialed up its economic growth expectations but signaled that there are no expected interest rate hikes for the next two years. The so-called dot-plot projections budged little, with most members still expecting to keep rates […]
March 8, 2021
Via: CNSNews.comThe Senate on Saturday passed the Democrats’ $1.9 trillion stimulus bill without a single Republican vote. This week, the House plans to take up the Senate bill, to avoid further negotiations. White House Communications Director Kate Bedingfield, speaking to CNN’s […]
Activity, Capital and Risk, Corporate Banking, Credit
February 5, 2021
Via: Banking DiveThe Fed’s annual survey, canvassing 15,000 businesses, gives another perspective on the effectiveness of pandemic-prompted relief programs. About 91% of respondents applied for emergency funding during the pandemic, the survey found. For 82%, that was the Paycheck Protection Program (PPP). […]
January 11, 2021
Via: CNBCInterest rates could rise sooner than forecast as the economy recovers more quickly than expected from the throes of the Covid-19 damage, Atlanta Federal Reserve President Raphael Bostic said Monday. While most of his colleagues don’t see a rate hike […]
December 21, 2020
Via: Banking DiveNone of the largest banks fell beneath their capital minimums under the Fed’s hypothetical stress scenarios, which assessed how banks are navigating the coronavirus pandemic, the central bank said. Due to the strong performance from banks in the second stress […]
Capital and Risk, Macroeconomic
December 16, 2020
Via: CNBCThe Federal Reserve dialed up its economic expectations slightly for the end of this year as well as for 2021, according to the central bank’s Summary of Economic Projections released on Wednesday. The central bank now expects real gross domestic […]
November 17, 2020
Via: YahooIt also generally means higher interest rates on loans, which is good for a bank’s bottom line. The United States has gone into recession, Federal Reserve-managed prime interest rates dropped to the 0%-0.25% range, and millions of people were losing […]
Capital and Risk, Macroeconomic
November 11, 2020
Via: AolEconomists and market analysts say that when President-elect Joe Biden takes the oath of office in January, he will inherit a battered economy. While most metrics of economic activity have risen from the record-shattering lows they hit in March and […]
Capital and Risk, Macroeconomic
October 28, 2020
Via: CNBCFederal Reserve officials have been pressing Congress to provide more fiscal help to the U.S. economy, and with good reason: The central bank is running out of ways it can help. Since the expiration of key provisions of the $2.2 […]