Federal Reserve Bank of New York

JPM’s boffo earnings; N.Y. Fed says cyberattack could be ‘devastating’

01/14/20

Bank beats estimates as earning soar 21%; a cyberattack on the American banking system could create havoc on financial stability.

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Will earnings season bring surprises?; Wells Fargo’s tech troubles

01/13/20

Profits at big banks are expected to be up versus a year ago but down from the third quarter; add antiquated systems to the bank’s many problems.

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Rate cuts have put U.S. economy on ‘strong footing’: N.Y. Fed's Williams

12/13/19

John Williams said Friday that the Federal Reserve's three interest rate cuts this year have bolstered the housing market and consumer spending.

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What ongoing repo turmoil means for banks

12/03/19

Federal Reserve officials said they contained fallout from the rate spike in the repurchase agreement market, but the episode poses longer-term repercussions for liquidity rules, the transition to a new interest rate benchmark and other issues.

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U.S. banking regulators taking harder look at climate change

11/18/19

In recent months federal regulators have been speaking out on the risks that extreme weather events pose to the financial system, something their European counterparts have been doing for some time.

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Household debt hits new high as low rates boost mortgage demand

11/13/19

Home loan originations rose by double digits in the third quarter while auto loan originations approached an all-time high, according to new household credit data from the New York Fed.

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Daley reunites with Scharf at Wells; Capital One demotes cybersecurity chief

11/08/19

The two previously worked at BNY Mellon in similar roles, Scharf as CEO and Daley as head of public affairs; Michael Johnson’s demotion follows the bank’s massive data breach in July.

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Business loan demand softer; BofA speeds minimum pay hike

11/05/19

Businesses scaled back investment plans in the third quarter, but consumers continued borrowing; the bank now plans to raise its minimum wage to $20 in 2020.

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Is the end of Libor a threat to financial stability?

10/27/19

Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.

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Goldman’s ‘money pit;’ lenders embrace small installment loans

09/30/19

Goldman’s consumer unit, Marcus, has so far lost $1.3 billion; big lenders like JPMorgan Chase and Amex are making loans for small-ticket items like clothes and cosmetics.

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