Commercial banks reported total trading revenue of $5 billion in the final quarter of 2017, down 21.2 percent from the third quarter and 16.1 percent from the year before, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities. The net current credit exposure fell by 3.2 percent to $337.1 billion, the report said. The notional amount of derivatives banks held in the fourth quarter fell by 8.7 percent to $172 trillion.
The House voted in favor of two bills to create a regulatory framework for payment stablecoins and digital assets. House members also voted in favor of a separate bill to ban the Federal Reserve from issuing a CBDC.
Business inventories in May came in at $2.66 trillion, virtually unchanged from the month prior but up 1.7% from a year ago, the Commerce Department said.
The rate for a 30-year fixed-rate mortgage was 6.75% this week. The rate for a 15-year fixed-rate mortgage was 5.92%.
A durable regulatory framework for stablecoins must balance the potential for enhancing payments with the need to limit negative economic consequences, promote financial stability and guard against consumer protection risks, ABA President and CEO Rob Nichols said in...
Builder confidence in the market for newly built single-family homes was 33 in July, up one point from June, according to the NAHB/Wells Fargo Housing Market Index. Builder sentiment has now been in negative territory for 15 consecutive...
There were $720.1 billion in retail and food service sales, an increase of 0.6% from the previous month, and up 3.9% from June 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes,...
