News Topic: interest rates

As U.S. banks were tallying up the billions of dollars in extra profits they'll reap from the sweeping tax cuts signed into law by President Donald Trump, they were quietly delivering unwelcome news to local governments: The interest rates on their ... Read full article

Bank stocks recovered some of their lost value on Tuesday on extremely high levels of trading volume. The lone exception: Wells Fargo. ... Read full article

Bank stocks tumbled on Monday amid a wider sell-off as investors' concerns mounted that wage growth could lead to inflation, higher borrowing costs for businesses and a slowdown in Fed rate hikes. ... Read full article

Though business owners are more optimistic about the direction of the economy since the tax law was passed, it's doubtful their borrowing will increase meaningfully until they see more signs of more robust growth, bankers say. ... Read full article

The Fed said Wednesday that the system paid roughly $80.2 billion to the Treasury in 2017, a 13% drop from a year earlier because of an increase in interest payments to member banks for reserve balances. ... Read full article

Banks are looking for ways to capture and retain deposits as interest rates rise, including promotional offers and focusing on relationship banking. ... Read full article

The economy is ripe for another downturn in the months or years to come, and banks shouldn’t be lulled into a false sense of security. ... Read full article

Bank of Canada governor says digital currencies could cause “significant disturbance”; JPM testing quantum computing's abilities. ... Read full article

Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank. ... Read full article

Federal Reserve chair Janet Yellen said interest on bank reserves should remain the central bank’s primary monetary policy tool ... Read full article

Capital One Financial will stop originating mortgage and home-equity loans after competition made it difficult for the businesses to be profitable. ... Read full article

Investors Bancorp in Short Hills, N.J., chased deposits in the third quarter in a move that drove up interest expenses and lowered profits. ... Read full article

The accord is the latest development in investigations by governments across the globe into banks’ manipulation of benchmark interest rates. ... Read full article

The president of the St. Louis Fed said that regulators should go back to the pre-Dodd Frank framework for small banks, while warning about changes to the system as fintechs expand their presence. ... Read full article

The embattled company has begun offering cash bonuses to certain customers who open accounts, but at least for now pricey deposit rates would not ensure that customers stick around, executives said Friday. ... Read full article

The Pittsburgh company benefited from loan growth and higher interest rates, though fee income fell and expense rose in the third quarter. ... Read full article

Total revenue rose less than 1% to $21.8 billion, but expenses declined 2.5% to $13.1 billion. That computed to the highest profit at Bank of America in six years. ... Read full article

Facing persistently low loan yields, increased competition and higher regulatory costs, many community banks are at risk of becoming irrelevant unless they rethink their business models. ... Read full article