The Federal Reserve announced this morning that its Paycheck Protection Program Liquidity Facility is fully operational and available for institutions to use. Through the facility, the Fed will extend non-recourse loans to institutions eligible to make PPP loans. PPP loans guaranteed by the SBA that are originated by eligible banks may be pledged as collateral to the Federal Reserve Banks.
ABA joined six trade associations in urging the FCC to adopt a proposal to create a new call authentication requirement designed to limit criminal access to the U.S. calling network.
The Federal Reserve, FDIC and OCC issued a joint proposal to rescind the Community Reinvestment Act final rule adopted in 2023.
Economic activity increased slightly from late May through early July, with five Federal Reserve districts reporting slight or modest gains, five with flat activity and the remaining two experiencing modest declines in activity, according to the fifth Beige...
The agricultural provisions in the recently enacted budget reconciliation bill will provide a strong backstop for agricultural producers, but a long-term Farm Bill is still needed, Clint Hood, SVP for Synovus Bank in Dublin, Georgia, told House lawmakers.
FHFA released an FAQ on the recent announcement that Fannie Mae and Freddie Mac will expand credit scoring options. Fannie and Freddie have also created webpages about the planned implementation of the policy.
Industrial production (IP) rose 0.3% in June after remaining unchanged in April and May. For the second quarter as a whole, IP increased at an annual rate of 1.1%.
