Builder confidence in the market for single-family homes in May was 40, up one point from the previous month, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The current sales conditions index rose two points to 45, sales expectations in the next six months fell four points to 43 and traffic of prospective buyers increased one point to 25.
Provisions welcomed by ABA and the state associations include a narrow version of the ACRE Act and a permanent Section 199A deduction that levels the playing field for Subchapter S banks.
The order permits banks to obtain TIN information from a third party rather than the customer as long as the bank otherwise complies with the customer identification program rule.
Under the recession scenario, the CET1 capital ratio declined by 1.8 percentage points in the aggregate. The Fed has proposed averaging results over multiple years to reduce volatility in calculating capital requirements.
Consumer spending rose 0.5% in the first quarter, down from 1.2% in an earlier estimate. Further, a 0.3% decrease in real PCE in May signals that consumer spending is continuing to trend downwards in Q2 2025.
The Fed, FDIC and OCC issued a joint request for comment on a proposal to modify certain regulatory capital standards for large banks. Comments are due Aug. 25.
Personal income decreased 0.4%, or $109.6 billion, in May, the Commerce Department said. The personal savings rate was 4.5%.
