The Treasury Department made clear in a much-anticipated report that it prefers Congress take up reform of the government-sponsored enterprises, but it also recommended steps that federal agencies could take without legislation.
Higher net interest income and securities gains boosted quarterly profit to $62.6 billion, which was 4% higher from a year earlier. But potential trouble signs from lower interest rates may emerge.
About 15% of the bank’s partners are likely to leave this year to make room for new ones; the bank said it is looking into why it charges some customers even after their accounts are closed.
The top regulatory official at the central bank said it could deploy either one of two tools to revise the proposed stress capital buffer. The plan aims to streamline the stress test program.
A new kind of institution wants to make the interest rate the Federal Reserve pays to its member institutions more widely available, but that could have big implications for monetary policy.
The banks, which plan to merge as Truist Financial, are expected soon to start selling hundreds of branches in the Southeast to satisfy antitrust concerns and increase efficiency.
A new kind of institution wants to make the interest rate the Federal Reserve pays to its member institutions more widely available, but that could have big implications for monetary policy.
