Jerome Powell

Lenders face quandary over offering Main Street loans to noncustomers


Many big banks say they will focus on existing customers in offering credit through the Federal Reserve’s emergency lending program for midsize businesses. Complex vetting and fear of being inundated are said to be among their concerns.


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


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.


Fed should make banks stop paying dividends, Senate Democrats say


The lawmakers argued in a letter to the Federal Reserve that suspending dividend payouts would be the "prudent course of action," allowing banks to build their capital cushions and continue lending during the coronavirus pandemic.


Why bankers remain unsold on Fed's Main Street program


Worried about a lack of demand and that some of their customers are ineligible, community banks are still on the fence about participating in the effort to back loans for businesses recovering from the pandemic crisis.


Small change is becoming a big problem for banks


At a congressional hearing, Fed Chairman Jerome Powell discussed steps to get the flow of coins to financial institutions back to pre-pandemic levels, as well as ways to ease other industry burdens.


Bank interest in Main Street Lending Program ‘substantial,’ Powell says


The Fed chairman updated senators about the agency's new credit facility for midsize firms struggling in the pandemic. He also left open the possibility of additional stress tests to gauge the industry’s coronavirus response.


Delay of Fed’s Main Street program hasn't hurt businesses, Powell says


The central bank is only now nearing the launch of the credit facilities after the effort was announced in April. But Chairman Jerome Powell said loans have been available through other means.


Fed expands middle-market loan relief to attract more interest


The central bank will increase support for credit issued through the Main Street Lending Program while providing midsize firms with more flexibility on the amounts they receive.


Fed policies ‘absolutely’ don’t add to inequality, Powell says


Chairman Jerome Powell said the Federal Reserve's actions during the coronavirus outbreak have been aimed squarely at helping U.S. workers, not Wall Street or wealthier Americans. He also said Friday that a new lending program geared toward middle-market firms is "days away" from getting up and running.


Banks are still paying dividends, but for how long?


Payouts continue to be relatively generous, but that could change if the Federal Reserve demands banks bolster capital or the economy worsens.