News Topic: interest rates

The Columbus, Ohio, company said Thursday that it expects the Federal Reserve to cut interest rates twice this year and two more times in 2020. ... Read full article

Second-quarter earnings at the Chicago custody bank were flat as increased interest costs offset better yields and fee income held steady. ... Read full article

KeyCorp, Regions Financial and others have sacrificed short-term profits to avoid being crushed by an anticipated decline in interest rates. ... Read full article

The Birmingham, Ala., company warned in its earnings call that moves by the central bank could make it harder to lower costs. ... Read full article

The company could rein in deposit costs, cut operational expenses and buy back more shares in anticipation of a Federal Reserve rate reduction. Other banks — especially big ones — could do the same. ... Read full article

Christopher Waller is a conventional choice drawn from within the Fed’s own ranks. Judy Shelton has spent decades outside mainstream economics. But both are expected to echo the president’s call for lowering interest rates. ... Read full article

The president said that European Central Bank President Mario Draghi would do a better job overseeing monetary policy in the U.S. than Fed Chairman Jerome Powell. ... Read full article

Regional and small banks are striking digital partnerships and launching new savings offerings as they attempt to steal away business from bigger institutions. ... Read full article

The banking industry isn’t prepared to transition away from a key financial benchmark in 2021, and steps need to be taken now to avoid market disruptions. ... Read full article

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management." ... Read full article

It's tempting to reach for higher returns on securities in anticipation of tightening margins. However, that strategy has pitfalls, including underestimating risks or being caught flat-footed by future rate moves. ... Read full article

Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates. ... Read full article

Banks are starting to lower their rates to savers, due to easier Fed policy and lower expected profits; Commercial lenders see big rise in non-performing loans. ... Read full article

The legislation from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez is part of an effort to shift the range of what is thinkable in Washington to the left. It may also serve to highlight the vulnerabilities of Democrats with bank-friendly records. ... Read full article

The Democratic senator's legislation, which has been floated in previous years, would apply to the APRs on all open-end and closed-end consumer credit transactions. ... Read full article

Money managers, which are critical to the success of State Street and Northern Trust, are aggressively moving cash into higher-rate products. ... Read full article

The Alabama company recorded a $91 million loan-loss provision and raised deposit rates during the first quarter ... Read full article

CEO Joseph DePaolo lamented the tough funding environment after the New York bank said deposit costs jumped 90% in the first quarter. Signature was the second bank Wednesday to report a drag on profits from funding costs. ... Read full article