Federal Reserve

Fed receives bipartisan critique for stalled Main Street lending

05/21/20

The Federal Reserve received a bipartisan critique Wednesday from members of a congressional oversight panel who said the central bank has been slow to launch a key emergency lending program for mid-sized companies.

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Regulators unite on small-dollar loan principles for banks, credit unions

05/20/20

Four federal agencies offered guidance Wednesday on how to offer products that compete against payday loans without incurring Washington's wrath. The announcement could spark the rebirth of deposit advances, which were regulated out of existence during the Obama administration.

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4 takeaways from Senate grilling of Mnuchin, Powell on relief plans

05/19/20

Members of the Banking Committee pressed the Treasury secretary and Fed chief to ensure CARES Act funds are deployed as Congress intended. They also debated the need for more stimulus to ease the economic effects of the coronavirus.

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Warren wants CEOs held criminally liable for bailout violations

05/19/20

Sen. Elizabeth Warren is calling on the Federal Reserve to hold corporate executives personally liable if they take bailout money intended to bolster credit markets and fail to meet all the certification requirements.

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Margin pressure could dog banks into 2022

05/18/20

With rates so low — after steep emergency Federal Reserve cuts in response to the pandemic’s fallout — banks will struggle to generate bread-and-butter interest income and asset-sensitive lenders will face substantial net interest margin contraction this year and next, analysts say.

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Fed muni program open for business

05/18/20

Kent Hiteshew, who was recently hired by the Fed to help with the municipal market, said the Municipal Liquidity Facility opened Monday.

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PPP set for revisions; Berkshire Hathaway unloads Goldman shares

05/18/20

The program would give small businesses greater flexibility on how they use loan proceeds; Warren Buffett’s company dumped 10 million of its nearly 12 million shares in the bank.

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Regulators temporarily ease key capital measure for large banks

05/15/20

The interim rule will allow institutions with over $250 billion of assets to exclude certain assets from the supplementary leverage ratio to help them respond to the economic fallout from the coronavirus pandemic.

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Fed warns corporate debt risk could soar the longer pandemic lasts

05/15/20

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."

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Cheat sheet: 7 measures in House coronavirus bill that matter to banks

05/15/20

Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.

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