Federal Reserve

Fed's Quarles urges nations to strengthen bank resolution plans

07/07/20

Randal Quarles, who is also chairman of the Financial Stability Board, said FSB members must do more to prepare for bank failures.

[more]

Black communities need more help from Fed

07/07/20

The Main Street Lending Program and other Federal Reserve loan facilities should be tailored to the needs of Black-owned banks and businesses.

[more]

Fed to start buying loan stakes in coronavirus rescue program

07/06/20

Banks participating in the Main Street Lending Program were able to register for and offer credit to businesses last month, but the Federal Reserve said Monday it was set to make the effort fully operational.

[more]

Federal loan programs seek borrowers; ECB to encourage more bank mergers

07/02/20

The Main Street Lending Program is off to a slow start, while the PPP is extended five weeks to distribute the remaining $130 billion in loans; the European regulator is softening its stance to allow more deals.

[more]

Banks 'not getting a ton of interest' in Main Street program: Powell

06/30/20

Federal Reserve Chairman Jerome Powell said about 300 lenders have signed on to the program and that the central bank is committed to making adjustments that could attract more borrowers.

[more]

Pack of regionals can satisfy stress tests with minimum buffer

06/30/20

Six of the eight regional banks that announced their stress capital buffers on Tuesday said they will need just a 2.5% cushion to weather an economic downturn. All eight said they’ll keep their dividends steady.

[more]

Wells Fargo to cut dividend; other big banks boost capital buffer

06/29/20

In response to the Federal Reserve's stress tests, Wells said it will lower its third-quarter distribution to shareholders. Meanwhile, JPMorgan Chase, Goldman Sachs and five other companies announced stress test capital buffers that exceed the minimum requirement.

[more]

Did Fed get it right on shareholder payouts?

06/26/20

Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.

[more]

Wells customers phished, Fed caps dividends, Citi’s new ops chief: Top stories of the week

06/26/20

Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention.

[more]

Fed halts dividend hikes, buybacks; regulators vote to relax Volcker Rule

06/26/20

The Fed stopped short of banning payouts entirely following bank stress tests; banks get greater freedom to invest in venture capital funds and reduced collateral on swap trades.

[more]