The FDIC released guidance today with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Michigan affected by severe storms, flooding and tornadoes. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to the severe weather, including extending repayment terms, restructuring existing loans or easing terms for new loans. The agency also said it would consider relief from certain filing and publishing requirements.
Preliminary: Consumer sentiment increased 2.5 points in November
Preliminary results show consumer sentiment increased 2.5 points in November to 73.0, up 8.7 points from one year ago. The Current Economic Conditions Index fell 0.5 points from the previous month to 64.4, 3.9 points lower than year-ago-levels....