The expansion of the dollar swap lines allows foreign central banks to meet the needs of companies and financial institutions rushing for dollars as the global payments system undergoes severe strain due to the coronavirus.
The bank’s former chair expressed regret over comments attributed to her in a House report, while Democrats and Republicans butted heads over whether the hearing was necessary.
The FDIC’s Quarterly Banking Profile said lackluster net interest income, likely resulting from lower short-term interest rates, drove a decline in fourth-quarter and full-year earnings.
Bernie Sanders’ rise to front-runner status for the Democratic nomination worries many bankers, but their opinions diverge on his electoral chances and whether a Sanders presidency would pose a direct threat.
Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories.
The agency said it wants feedback on changing its ubiquitous logo greeting customers at branches and ATMs to address technological changes, shifting consumer behaviors and bank-nonbank partnerships.
Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.
Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service.
