Newsbytes

New Home Sales Increased in January

New single-family home sales rose to a seasonally adjusted annual rate of 555,000 in January, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The January level was 3.7% above the revised December rate of 535,000 and 5.5% above the January 2016 level. Sales rose in most regions, increasing 15.8% in the Northeast, 14.8% in ...

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Consumer Sentiment Fell in February

Consumer Sentiment declined 2.2 points in February to 96.3, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index rose 0.2 points to 111.5, while the Consumer Expectations Index fell 3.8 points to 86.5. “While consumer confidence edged upward in late February, it remained slightly below the decade peak recorded in January. Overall, the Sentiment Index ...

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ABA Advocates for Changes to 2018 Farm Bill

At a Senate Agriculture Committee field hearing in Kansas today, ABA highlighted the critical role that the nation’s banks play providing credit to farmers and ranchers, and advocated for changes to the upcoming 2018 Farm Bill that would take into account the rising costs of agriculture.

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Fed, OCC Issue Transition Period Guidance on Variation Margin

As the ABA Securities Association and other trade groups have urged, the Federal Reserve and the OCC today issued guidance on how examiners will review compliance with the requirement for when swap dealers and major swap participants must exchange variation margin for swaps not cleared through a central counterparty.

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Treasury Announces FY 2016 Bank Enterprise Award Funding

The Treasury Department’s Community Development Financial Institutions Fund is today announcing $19 million in funding for the fiscal year 2016 Bank Enterprise Awards, which encourage banks to increase their investments and loans in disadvantaged communities.

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FOMC Minutes: Hike May be Appropriate ‘Fairly Soon’

Fed officials expressed that they could raise interest rates “fairly soon” as an improving economy and the possibility of faster than anticipated inflation could put the economy at risk of overheating, according to the minutes of the meeting released today. “Many participants expressed the view that it might be appropriate to raise the federal funds rate again fairly soon if ...

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Fed Makes Annual Adjustment to Asset Threshold for Dividend Cut

The Federal Reserve today made an annual inflation adjustment to the asset threshold in Regulation I that determines the dividend rate that certain member banks earn on Federal Reserve Bank stock, as required by the 2015 transportation spending bill. The threshold for 2017 is now set at $10.122 billion in assets.

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Ely: FCA Chairman Tonsager Has Important Message for FCS

On February 1, Dallas Tonsager, the new chairman and CEO of the Farm Credit Administration (FCA), gave his maiden speech as FCA chairman at the Farm Credit Council’s annual meeting. The Council is the trade association for the FCS’s banks and associations. Tonsager sent a powerful message to the FCS that can be characterized by one word – confidence – ...

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