News Topic: Deposits

The company said the acquisition should lower its funding costs and shore up its net interest margin. ... Read full article

The new consumer deposit product will provide customers a snapshot of the carbon impact of their purchases and offer other incentives to entice the environmentally conscious. ... Read full article

While rival banks reported increases in loans and deposits, thanks largely to their participation in the Paycheck Protection Program, State Street and Bank of New York Mellon saw their balance sheets shrink in the second quarter. ... Read full article

Some 60% of Ally’s auto originations in the second quarter were used-vehicle loans, the highest percentage in the company's history. ... Read full article

Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use. ... Read full article

Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk. ... Read full article

Congress and the FDIC are considering easing limits on banks' holdings of such deposits, a move that could inadvertently lead to more expensive failures. ... Read full article

The Office of the Comptroller of the Currency will use year-end 2019 asset totals in its calculating its next assessment, saying national banks "should not be penalized" for adding emergency loans to their books during the pandemic. ... Read full article

JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's ... Read full article

A record amount of funds have flowed into banks since the coronavirus hit, but a low rate environment and tepid loan demand are complicating efforts to put that money to work. ... Read full article

The legislation would aim to address concerns that the current policy is outdated by establishing a new regime to limit asset growth for banks that are not well-capitalized. ... Read full article

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different than it might have been just six months ago. ... Read full article

Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to heed the $1.95 trillion growth ceiling set by regulators in the aftermath of its phony-accounts scandal. ... Read full article

The economic contraction caused by the coronavirus pandemic has been worse than the Wall Street firm had modeled two months ago, its president John Waldron said Wednesday. ... Read full article

The bank is trying to recover millions of dollars in returned deposits. It also has a $14 million loan to the company that allegedly conducted the scheme. ... Read full article

Bracing for a prolonged economic slowdown, many community bankers say they are considering a number of belt-tightening measures, including freezing salaries and delaying investments in technology and product development, according to a survey by Promontory ... Read full article

Congress authorized the Federal Deposit Insurance Corp. to intervene if the pandemic caused a liquidity scare, but nearly two months later deposits are through the roof and the agency has not acted on the expanded authority. ... Read full article

The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic. ... Read full article