Freddie Mac today reported a $354 million loss in the first quarter, following a $2.15 billion profit in the previous quarter. The drop in Freddie’s income was largely due to derivatives losses after increases in interest rates. The company will not have to draw from the Treasury to cover its loss.
The NFIB Small Business Optimism Index declined by 1.6 points in April to 95.8, the second consecutive month below the 51-year average of 98.
The Consumer Price Index rose 0.2% in April after falling 0.1% the previous month, and increased 2.3% over the past year, the Labor Department said.
The federal banking agencies issued updated host-state loan-to-deposit ratios that they will use to determine compliance with Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act.
Congressional leaders unveiled a federal budget reconciliation tax package that contains several banking industry priorities, including language to expand access to affordable real estate credit in rural areas, as championed by ABA.
Several congressional Republicans say they do not support a proposal by President Trump to redirect funds away from the CDFI Fund.
ABA joined a coalition of associations in voicing support for legislation to make permanent tax reforms that help U.S. companies compete against foreign firms.
