The Office of the Comptroller of the Currency today released its bank supervision operating plan for fiscal year 2023. The four-page document provides the foundation for policy initiatives and supervisory strategies as applied to individual national banks, federal savings associations, federal branches, federal agencies and technology service providers. The OCC staff uses the plan to guide supervisory priorities, planning and resource allocations.
Illinois regulators closed Pulaski Savings Bank of Chicago and appointed the FDIC as receiver. Millennium Bank of Des Plaines, Illinois, agreed to assume all deposits and most of its assets.
The FDIC sued 17 former executives and directors of Silicon Valley Bank, alleging their gross negligence led to the collapse of the institution.
The U.S. government will hit the debt limit on Tuesday and begin using “extraordinary measures” to avoid a default, outgoing Treasury Secretary Janet Yellen told House Speaker Mike Johnson.
This year could be a “banner year” for bank mergers and acquisitions, with improving economic conditions, enhanced net interest margins and the possibility of tax cuts, according to a recent analysis by the law firm Hunton Andrews Kurth.
The Federal Reserve announced it has pulled out of a coalition of central banks formed to tackle climate change risk in the financial sector.
Housing starts in December increased to a seasonally adjusted annual rate of 1.499 million, according to the U.S. Department of Commerce. This is 15.8% above the revised November estimate of 1.294 million but is 4.4% below the December...
