Treasury Department awards grants to boost local economies after COVID

ABA expressed support for FHA's proposed voluntary Reinstatement Advance Payment, or RAP, demonstration, but also offered several recommendations to ensure mortgagees are fully equipped to participate in the demonstration and borrowers are treated fairly and consistently.

One -size-fits-all regulation does not work for community banks, which is why legislation is needed to better tailor regulation and promote de novo bank formation, Kentucky community bankers told House lawmakers.

While both rates have increased and the yield curve remains upward sloping, it has flattened as the two-year yield has risen faster than the 10-year yield, suggesting that the market expects the Fed to keep short-term interest rates...

Delays in supervisory action ahead of the Silicon Valley Bank failure were not caused by regulatory tailoring mandates, despite an earlier Federal Reserve report alleging they were, Vice Chair for Supervision Michelle Bowman said, citing preliminary results from...

Industrial production was unchanged in August, after edging up 0.2% in July. In August, manufacturing output decreased 0.3%, and the index for mining and utilities rose 0.1% and 1.8%, respectively.

The Federal Reserve will soon propose a revised stress test model for noninterest income to better capture business diversity across firms, Vice Chair for Supervision Michelle Bowman said.