U.S. manufacturing activity contracted in August for the sixth consecutive month, the Institute for Supply Management said. ISM’s manufacturing index was 48.7%, up 0.7 percentage points from the previous month. (Readings over 50% indicate expansion.) Seven industries reported growth in August while 10 contracted.
Regulators set sights on liquidity coverage ratio reform
Saying that bank liquidity is “the next big-ticket item” for regulatory reform, top officials at the Treasury Department and Federal Reserve outlined their case for revisiting the liquidity coverage ratio to recognize discount window borrowing capacity.










