News Topic: interest rates
Search Results
House committee advances bill to address Libor transition
Only Congress can smooth the Libor transition
Libor is dead. Long live choice.
Fed holds rates at zero, projects two hikes by end of 2023
Wall Street warned by U.S. regulators to speed up Libor exit
Fed’s Beige Book reports pickup in recovery, price pressures
Investors flock to bank stocks, anticipating higher interest rates
Half a trillion dollars is sitting at the Fed earning nothing
Say goodbye to Libor, or risk the ire of your regulator
Bank of America, JPMorgan enter swaps trade tied to new Libor replacement
Why Zions is shunning SOFR, embracing Ameribor
Killing off Libor gets real for banks on key milestone date
Fed’s Quarles aims to clear up confusion about Libor deadline
Legacy contracts using the London interbank offered rate — which is set to be phased out at the end of this year — were granted a reprieve to mid-2023. However, there is no wiggle room on when the rate will expire for new deals, said Federal Reserve Vice ... Read full article
NCUA’s derivatives rule could be boon for large credit unions
Under a proposed rule change, credit unions would no longer need to seek pre-approval from the regulator before entering into interest rate swaps, speeding up transactions for some of the industry’s biggest institutions that already hold over 80% of total ... Read full article
Illinois caps interest rates on consumer loans at 36%
It is the 18th state to pass a law imposing rate caps on all consumer loans, including payday and car title loans. ... Read full article
Global banks warn of market chaos if court rushes Libor exit
Some of the world’s biggest banks are urging a U.S. judge not to immediately terminate Libor after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.” ... Read full article
Banks' net interest margins plunged to record lows in 3Q
The Federal Deposit Insurance Corp.’s latest report on the industry’s health had positive news about the earnings recovery last quarter, but it also showed that low interest rates amid continuing economic uncertainty are putting downward pressure on asset ... Read full article
NCUA moves to loosen derivatives rule for credit unions
The credit union regulator has held back in allowing the use of derivatives but has released a proposal that would remove red tape for some larger institutions. ... Read full article
Leveraged lending has avoided pandemic hit. Will that last?
Defaults have been milder than expected thanks to government relief and stricter underwriting. But with the crisis dragging on and policymakers unable to agree on a stimulus plan, loans to highly indebted companies remain at risk. ... Read full article