Federal Reserve Bank of New York

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


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


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


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.


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


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


What ongoing repo turmoil means for banks


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.


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


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.


Household debt hits new high as low rates boost mortgage demand


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.


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


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.


Business loan demand softer; BofA speeds minimum pay hike


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.


Is the end of Libor a threat to financial stability?


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.


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


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.