The Terrorism Risk Insurance Act was created after 9/11 to serve as a crucial federal backstop for commercial real estate insurers, but an analysis of alternatives to fund the program reveals the continued challenges of measuring and predicting terror risk.
Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.
The Houston company doesn't expect any material impact on its commercial-and-industrial book, though there is potential risk tied to residential mortgages. Management, meanwhile, has started rolling out programs to help customers recover.
The massive flooding in Texas is sure to put pressure on lawmakers to resolve differences over the National Flood Insurance Program, but a short-term extension of the program is still the most likely scenario.
A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.
Three years after guiding the Baltimore bank through bankruptcy, the group that recapitalized it found a similar institution eager to form a new partnership.
Fed Vice Chair-nominee Randal Quarles will likely face questions about his support for small banks, while Comptroller-nominee Joseph Otting must face fallout from his predecessor.
House Financial Services Committee leaders and two top real estate trade groups have cut a deal on a bill to reform the National Flood Insurance Program.
