Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.
Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.
The performance of about $3 billion in hotel and other loans flagged by the Dallas company as high-risk has been a "a pleasant surprise," its chief credit officer said at an industry conference.
Lenders press Congress to restart — and revamp — the Paycheck Protection Program; Fed corrects stress test error for Morgan Stanley, Goldman Sachs; M&T's new fintech unit rolls out first product; and more from this week's most-read stories.
Bank of Montreal's top executive says it's a "myth" that his company's commercial lending business is taking big risks and argues the bank will come through the recession with fewer loan losses than rivals.
Only one of the 118 loans bought by the Federal Reserve through Aug. 31 was close to the $250,000 minimum in the rescue program, aimed small to midsize businesses hurt by the pandemic.
New analysis from S&P found that only two of the of the top 20 credit unions that participated in the Paycheck Protection Program loans had assets of less than $1 billion.
The Minneapolis company’s partnership with the Black Business Investment Fund and other community development financial institutions is an example of how banks can fulfill multimillion-dollar pledges aimed at closing the racial wealth gap.
